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Buying a Home in Cyprus
16
A Practical Guide to Successful Real Estate Purchase - Top Tips Supplement

Questions to ask estate agents
When discussing the purchase of a particular resale property with an
estate agent, there are a number of questions you should ask.
Here are my top 8.
Why is the owner selling?
If you are lucky, the agent may reveal more than he should about the
seller’s circumstances and motivation for selling.
A motivated seller is more likely to accept an offer below the asking price.
How long has the property been on the market?
Has the property been ‘sticking’ on the market? Is the seller getting
desperate to sell? Why is the property not selling? Are there any problems
with the property which the agent is not telling you about?
When does the owner need to move out?
Is there an urgent deadline which could be an advantage in negotiating a
lower price for the property? If the owner has to move somewhere else
they will be keen to sell and get everything settled before they go.
If the property is rented and the rental agreement is coming to an end,
the seller will not want to keep the property empty for too long after the
tenancy has ended.
What other properties are there in competition to this one?
This is a very useful question provided you get an honest answer! The
agent is looking to close a deal, not open everything wide open with a
whole load of new options. You are likely to get an honest answer by
taking the property details sheet into a rival’s office and asking them! The
information you gather will be important in justifying any offer you make.
© Nigel Howarth
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