DIY Selling Approach

If you're buying or selling, tell others about it here. Or ask other owners for advice.
nealh
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Joined: Sat May 26, 2012 3:45 pm
Location: Cyprus
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DIY Selling Approach

Post by nealh »

We are in the throes of putting the house and holiday rentals on the market in Cyprus. Not the best of times, but it is time for us - a long story behind the decision but won't bore you with the details.

World wide, estate agents in general have a poor reputation and this is particularly true in Cyprus. With this in mind, we thought we would give the DIY approach a shot. The problem we are coming across is finding sites that might be relevant.

Has anyone got any suggestions about a good route to take? We have got in touch with Charles but lots of other sites seem to be set up just for residential sales rather than a mix of the two, as we are. Would love to hear about success stories etc.

And rather than waste an opportunity, if anyone is interested in a Cyprus home with 2 attached holiday lets, please get in touch!
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PW in Polemi
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Location: A village in Paphos, Cyprus

Post by PW in Polemi »

Hi Neal
Do you have full title deeds or land only title deeds waiting for the Land Registry to draw your house on the plan? Is it a rural plot that can't be split or did you buy it as more than one smaller plot? I'm assuming that, like most holiday accommodation owners over here, you're not CTO registered - and this may well make it difficult to sell the property as a going concern.

It may well be that you can only sell it as a residential house, with granny wing/staff annex.
:(

Do you have a sea view at all? If so, you may be able to get Russians interested - from what I've heard, most of them want a sea view and plenty of security.

I know agents are a bit (well, a lot :roll: ) of a rip-off over here, but have you considered using agents in Nicosia and Paphos, trying to sell to Cypriots for a second, holiday home for them and their extended family?

Have you any idea of the valuation? If it's high enough, could you sell to Chinese wanting a Cypriot passport?????
Dogs have masters. Cats have slaves!
nealh
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Joined: Sat May 26, 2012 3:45 pm
Location: Cyprus
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Post by nealh »

Thanks for your reply PW...

Title deeds are not a problem although as you say, not being registered may be.

We are, I think, miles away from what a Russian would want, as the image I have of their requirements is more bling than you can shake a stick at.

In our minds, our target market is older British couple that want to semi retire and use the income from the holiday lets as a way of funding 'the lifestyle'. Of course, that brings on another set of issues linked to Brexit etc etc. Life is so complicated!!!

On Monday we are going to see what we hope is a more reputable agent to see what they have to say.

Thanks for your thoughts though, it is always good to get another perspective.
kg1
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Post by kg1 »

If you are looking for a cheap way to sell in the U.K. try Gumtree. I have sold 3 properties on there.
nealh
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Joined: Sat May 26, 2012 3:45 pm
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Post by nealh »

Were they UK properties or overseas? When I looked on Gumtree, there seemed to be a distinct bias towards UK residential houses so I thought people would perhaps not bother looking there for a house in Cyprus. Maybe your experience tells me I am wrong?
kg1
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Post by kg1 »

2 in the U.K. and 1 in Northern Cyprus!!
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Casscat
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Post by Casscat »

Rightmove. UK private advertisers cannot advertise direct but non-UK ones can on the overseas site: http://www.rightmove.co.uk/overseas-property.html Not Cyprus I know, but the nonetheless tricky market of inland Spain. My neighbour is selling and has his house in the hands of a local agent plus, at my suggestion, Rightmove. He has two viewings lined up later this month from British folks both of which came directly via Rightmove. Local property markets differ, but inland southern Spain the buyers are Scandinavian and British predominantly so you have to sell into their marketplaces.
nealh
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Joined: Sat May 26, 2012 3:45 pm
Location: Cyprus
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Post by nealh »

Kyreniagirl... interesting; perhaps I need to put them back on my list to follow up.

Casscat.... when the local agent is going to expect around 12,500 to sell the house, that would pay for a lot of advertising on Rightmove!

Will definitely have to explore these suggestions more - thanks for the heads up.
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