It is now easier for a UK resident or someone from the UK who owns a holiday home in Cyprus to sell their holiday home property in Cyprus. The following steps will help guide UK residents through the selling process
ESSENTIAL CYPRUS SELLING GUIDE
We don’t have to inform you that the present market is difficult for UK sellers. The unpleasant fact is that only the greatest homes will sell. Most homes won’t sell unless they follow basic real estate guidelines. Sellers who choose inferior firms are frequently doomed from the outset. Since taxi drivers can no longer sell property in Cyprus, all real estate agents must have worldwide exposure. Or you can market privately on many platforms like Esales Property, Magnolia Property, Rightmove Overseas or a Place in the Sun and many more . Here is our sale timeline with some Top Tips to help sell your property.
If your Cyprus property lacks a separate title document, you must first undertake a Land Registry Search ( N50 ) by submitting a completed form N.50. The property owner or their legal agent can do this.
Step 1: Fair and accurate appraisal Realist
We seek to sell your home in Cyprus quickly for the greatest price. We’ll review the details and schedule a viewing and value of your home.
Step 2: Select an Agent or Online Portal Marketing to Overseas Buyers
Esalesinternational is a British-owned and operated platform that markets to buyers in over 70 languages around the world. For all of our properties, we are not exclusive agents. Our property promotion is equivalent to what an agent can do but with us you save thousands in agents fees and can talk to buyers directly if you so wish.
Step 3: Tell a lawyer you want to sell
Your lawyer’s efficiency might affect the selling of your property. Nobody wants a lawyer who is slow to respond or who is obstructive. We have a “council” of recognised lawyers that will provide you with outstanding service at a great price. Professional attorneys in your language, English or Russian.
If you want to leave Cyprus for a lengthy period or live permanently overseas, please prepare a power of attorney with your lawyer so that your transaction may proceed quickly.
Step 4: Selling your home in a marketable way?
Preparing your property takes time. Consider a new paint job and tidying up the garden. It may seem apparent, but storing patio and poolside equipment in your living room will detract from its charm. Minimize decorations, personal images, and pictures. Donate unused items to friends or charities. Allow yourself time to declutter and prepare. Make sure it appears well before exposing it to the public.
Step 5: Promotion – Pick the proper firm first
Choosing the correct business to market your home is crucial. Choose someone who has sold a property in your region before. Remember to market your home outside of Cyprus to sell it. No one conducts full-scale marketing and advertising your property to overseas clients better than us. We give personal service and go above and above for our clients who entrust us with their property. If your property hasn’t sold, go back and evaluate the Price, Presentation, and Promotion.
Step 6: Schedule viewings
Please ensure that your Cyprus property may be viewed at any time. Most buyers prefer to view a house without the owners. The owner’s absence increases buyer time in a home by over 50%. Afraid about leaving keys with neighbours and asking them to attend every viewing? Because many potential buyers only come on weekends to see properties, this friend’s favour may be troublesome. Remember that without assured access, you may lose a sale. It may seem simple, but let us know if you intend to leave the island or are out of town. This may cause numerous issues since tenants rarely care if you sell or not and, in some circumstances, will actively work to prevent you from selling what they regard as their house.
Step 7: Accepting an Offer
You will be notified orally and in writing, if an offer is made on your Cyprus property. Any unique terms related to the offer must be considered now.
Step 8: Reservation Agreement
A non-refundable reservation deposit will be charged by your notary after pricing has been agreed upon. Both parties sign this one-month contract.
Step 9: A contract of sale dotted with “Is” and “Ts”
Your lawyer will enter into a selling contract for the agreed amount. Normally, 30-50% of the purchase price is paid at signing. The contract of sale will contain all of the terms of the deal.
Step 10: Finish the job!
A deadline is established. Your lawyer must submit a tax clearing certificate proving all taxes and bills are paid. Both attorneys will meet at the Land Registry Department to pay the sellers’ lawyer and deliver the title deeds or contract to the new owner. As a UK resident with a home holiday in Cyprus, you have successfully sold your property.