law-firm-cyprus

5 things to consider for an easy sale of your property in Cyprus

Summary

Selling a property may cause inconvenience, stress and anxiety. We suggest the 5 steps to take when selling a property to do it better, whether the property you are selling is a Villa in Paphos, a bungalow in Limassol, or an apartment in Nicosia.

1. Learn the process

People selling a house have (in most circumstances) already bought the house in question. As such they already saw the conveyancing process in Cyprus even if some time has passed. Selling a house however is in certain respects different and it would be a good idea to take some advice on how it proceeds. As a law firm we do this consultation for free.

2. Choose the right estate agent

Estate agents will typically try to sell a property for the highest price as their commission depends on it. It is obligatory in Cyprus for estate agents to be licensed and we would recommend to see at least a couple of estate agents to choose from. You can use their exclusive service or their non-exclusive agency service which typically will be more expensive (some of them may not have a non-exclusive basis of co-operation). Estate agents will prefer to act as exclusive agents but depending on your requirements you might choose to advertise your property with more than one agent.

3. Use independent lawyers

Estate agents will typically try to sell a property for the highest price as their commission depends on it. It is obligatory in Cyprus for estate agents to be licensed and we would recommend to see at least a couple of estate agents to choose from. You can use their exclusive service or their non-exclusive agency service which typically will be more expensive (some of them may not have a non-exclusive basis of co-operation). Estate agents will prefer to act as exclusive agents but depending on your requirements you might choose to advertise your property with more than one agent.

4. Fees and step by step guide

You should always agree a fixed fee with your lawyer for the sale of your property. You will get a quote and decide if you want to proceed or not. Once you do decide to proceed, its best to have a guide on what is going to happen and what will be required from you each step of the way in order to make your arrangements. For example, you might want to leave Cyprus in a few days and would like to leave a power of attorney for the lawyer to handle the conveyancing.

5. Paperwork

You will need to prepare certain documents for the sale. As part of our procedure we give lists of documents that need to be prepared and you can tick off the ones prepared. These may vary for different circumstances but typically will include information about the property, the purchase contract, any mortgages that will need to be removed etc.

In conclusion, the people you work with matter as it is difficult to do things on your own safely. You should expect a clear view of the process and proper customer service from the professionals you choose to work with in order to be in control and stress-free. To learn more about our services related to properties click here

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