Cyprus Property Forum for Buyers, Sellers & Investors

Hi Nigel

could you give me some advice or recomend a land agent
to value 3 plots of land that we own in Cyprus which we
are looking to put up for sale asap. Would you have any
idea what sort of figure an agent would charge to do this
we have been told the best idea would be to obtaIn 3
seperate valuations.
Is this the usual course of action to take?

Regards

Sue Horton

Hi Sue

Any reputable estate agent will be able to give you a valuation. Also, there is the Cyprus Association of Valuers and Property Consultants - http://www.propertyvaluers.org.cy/index.php?lang=en who will also be able to provide you with a valuation.

I do not know how much this will cost.

Once you have a valuation, I suggest that you advertise the land on the Internet. Some sites, such as Angloinfo Cyprus, offer advertising.

If you do decide to use an Estate Agent, make sure your lawyer looks over any agreement before you sign it (some agents charge regardless of whether they achieve the sale). And be prepared to haggle the estate agency fees - they usually charge around 5% (+VAT).

Regards,

suenat1 wrote:Hi Nigel

could you give me some advice or recomend a land agent
to value 3 plots of land that we own in Cyprus which we
are looking to put up for sale asap. Would you have any
idea what sort of figure an agent would charge to do this
we have been told the best idea would be to obtaIn 3
seperate valuations.
Is this the usual course of action to take?

Regards

Sue Horton

Getting valuations is fine if you are looking to borrow on them, but in my experience, they do not carry any weight when w
wanting to sell.

The market is still unstable and the 'best' idea of what you can get for them would be to look around similar plots prices.

if your valuer gave you a high valuation and similar nearby parcels were on sale for a lot less then you will not sell.

Valuations from a official valuer will cost a %age of the value. Getting 3 valuations, will cost you.

You could get any estate agent to give you a today market price, so you could get a couple more in and see what figures they give you.

Land values have fallen significantly, now is not the best time to sell, but if you must, then you must.

The price is very much dependant on zoning, location road access etc, there are a number of factors to consider. So when you are comparing you need to be doing like for like.

Just out of interest, where is your land located and size? Do you own it out right or a share??

Good luck whatever route you take.

Pan