How Long Can a Property Sale Take in Cyprus?

How Long Can a Property Sale Take in Cyprus?

At DemPro, we understand that all property sellers (and buyers) will want a painless, smooth transaction when it comes to buying and selling a house in Cyprus. Of course there’s never a guarantee that things won’t go wrong, but that’s part of the reason why we only utilize the most effective techniques and methods when helping our clients; simply to minimize the risks that other estate agents sometimes overlook.

 

As a result, we’re often asked how long property sales can take, specifically ‘how long will it take to sell my house in Cyprus’.

 

This is a common question for a number of reasons; from the seller wanting a quick sale so that they can move on with their plans, right through to the need for a hasty transaction to avoid new deadlines imposed by the EU when it comes to the sale of things like land and immovable property.

 

So, How Long Should You Expect Your Sale to Take?

 

In our experience, most sales can be completed within 6 months, but in most instances this time frame can be much less. There are a number of factors that can contribute to the amount of time that a sale can take. These include:

 

·         Paperwork

·         Fees

·         Registration issues

·         If tenants are present

 

Paperwork is one of the most important things to have access to when making a sale, including title deeds as well as other pieces of information that are needed for filing purposes. If the paperwork is available, the time needed can be reduced. If applications need to be made for copies and so on, this can extend the time frame somewhat.

 

Fees are often payable when it comes to transferring the possession of the home to another party. They are typically paid on the day of transfer and can be handled by a solicitor. In some cases, deposits will need to be placed in a holding account and although not time-consuming, this is another factor that needs to be considered as far as transaction duration is concerned.

 

If any registration issues occur (highly unlikely), an application might need to be made for further information. The land registry will often handle these events, but they can set the sale date back a short while if these incidents do pop up. Lastly, if you are selling and have tenants, you’ll likely need to give an amount of notice to them legally and this should always be accounted for when selling a home.


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