Buying a Home in Cyprus
A Practical Guide to Successful Real Estate Purchase - Top Tips Supplement
What is the minimum price the seller will accept?
Knowing the bottom price which the seller will accept will help you
formulate your offer. If a property has been on the market a while, most
agents will be very forthcoming with this information.
What do you think the property will actually sell for?
This is a bit of a ‘fishing expedition’. What you are looking for is signs
that the agent has a different opinion as to the true value of the property.
Who valued and priced the property?
Another ‘fishing’ question to follow-up from the last. If the seller priced
the property and the agent thinks it’s too high, then when you place a
lower offer, you stand a very good chance of having the agent bat your
corner. If the agent has priced the property then they probably will stand
by their valuation and push you to offer close to it.
What extras are included in the sale price?
Some properties are sold complete with furniture and other useful extras
such as household appliances, satellite dish, television, etc. And if the
owner is keen to sell quickly, it’s not unknown for them to include a car.
(A friend in my village bought a resale property and all the seller took
with him when he left was a suitcase full of clothes. Everything else he left
Buying resale property from a developer
Due to the delays in issuing Title Deeds, you may find that the person
selling the property is a property developer.
In this situation you need to follow much of my advice in the ‘Top Tips for
buying off-plan’ section.
© Nigel Howarth
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