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This North Cyprus Property Sellers Guide is designed to answer all the questions vendors may have about how best to go about achieving the best price for their North Cyprus villa or apartment.
Please contact us at our UK or North Cyprus Offices should you have any questions about this property sellers’ guide, wish to discuss the sale of your home or get a FREE valuation.
Which is the best property agency to sell my North Cyprus property?
If you are considering selling your North Cyprus villa or apartment, you need an agency offering professionalism & long experience plus local and international marketing reach. These factors are often as or more important than the commission % you are quoted for the selling fee.
Our North Cyprus International (NCI) Property Agency has offices in both the UK and TRNC and a high-profile website. We have 20 years’ market experience and can guide you through the selling process. We work extremely professionally around the clock ensuring that our sellers get a rapid and profitable sale – ensuring a smooth transaction for all involved.
What type of properties does North Cyprus International (NCI) market for sale?
North Cyprus International specialises in the sale of key ready, resale (pre owned) properties on the North Kyrenia Coast of Northern Cyprus between Kalayar (going west) and Tatlisu (going east) plus Bafra. We are not currently taking on any properties for sale in the Iskele or Famagusta region.
At present (summer 2024) NCI is delighted to market for sale completed, resale (pre owned) villas and apartments where the title deed is issued and is in the seller’s name. These can include new build properties where a deed has been issued and has been transferred. However, the new property regulations issued in May 2024 make it difficult for an overseas buyer to purchase a new build property where the deed has not been issued or where the deed is still with the developer. As most of our clients are overseas buyers, we are not therefore able at present to assist you with the sale of your new build (off plan, under construction or completed) property, if you have not taken the title deed into your name. If this is the case, we urge you to get the deed from the developer transferred into your name prior to selling.
Can I get a FREE property valuation for my North Cyprus property?
Yes, if you are serious about selling your home, either our Sales Director or an experienced colleague will visit your home to appraise its value, with no charge for valuation and with no obligation to sell. The value we assign will depend upon your property location, age, type, condition, size, facilities, views and other features. Prices are rising fast for villas and selected apartment types at present and we are confident of achieving you the best possible price.
Will my TRNC property for sale be featured on your estate agent website?
It’s preferable to choose a company whose website appears on the first page of google for online “North Cyprus Property” searches. NCI has a full time IT Director who works hard to make sure that the North Cyprus International website you are currently visiting has a consistently high online presence. Our full time Marketing Department responds immediately to enquiries from all over the world and arranges the inspection trip or viewings.
How will my North Cyprus property be marketed for sale?
Once you have read our Property Sellers’ Guide and have agreed to sell with North Cyprus International, we will arrange photographs and a video. Our NCI Marketing Team will write up a professional description of the property which we will pass by you as the vendor for approval.
As well as advertising on our popular Noth Cyprus property website and Rightmove, NCI will use mailshots to our large client base as well as marketing on social media websites. We also contact relevant individuals on our books who are seeking properties such as yours.
What are the costs of selling my North Cyprus property?
The costs will be the commission you pay to us as the selling agent, the legal fee for conveyancing (usually around £1,000) and any transfer fee which may be payable to the developer if the deed is not in your name (admin fee for re-assigning the contract).
Please note, we do not charge for marketing your home. You only pay commission if we achieve a sale for you.
Will I pay capital gains tax when I sell my North Cyprus property?
Every private individual has a once in a lifetime tax free sale option for a house and land not exceeding 1 donum (1338 square metres). On all subsequent sales, Capital Gains Tax will be payable at 2.8%, provided you do not sell more than 3 properties in one year, making you a professional Vendor.
What estate agency commission % do I pay to sell my North Cyprus property?
At NCI we aim to keep the seller’s commission as low as possible, bearing in mind our International Marketing costs. It is a huge benefit to use a company doing international marketing than a smaller local company selling mainly to local people. However, with huge international demand at present, we will achieve a higher price and sell more quickly than a local company. The commission % is something you can discuss when we visit you as each case is assessed and agreed individually.
Should I sell my North Cyprus property with sole agency?
Many property sellers in North Cyprus use more than one agency but we can discuss a lower sales commission % percentage if you, the vendor, are willing to sign a sole agency agreement.
What is the process for selling my North Cyprus property?
After you have read our Property Sellers’ Guide – you should contact us for a free, no obligation valuation visit. Then if you wish to proceed, you sign an agreement with NCI as your selling agent on the commission rate payable only if we achieve a sale. After this the viewings are arranged (it’s up to you when you wish potential buyers to visit). The buyer will make an offer through the agent which you can accept or reject. Once accepted, the buyer pays a non-refundable reservation deposit usually via their lawyer. The buyers’ lawyer then prepares a contract of sale at which point an inventory is prepared which would be included with the contract.
How long does it take to sell or buy a North Cyprus property?
Different types of properties take different lengths of time to sell. If you are the vendor of a villa with a pool reasonably close to Kyrenia, your home is likely to sell very fast. Apartments further from town are taking longer to sell, although seafront positions for any property generally ensure a fast sale.
After around a month from the payment of the reservation deposit, the lawyers for both the seller and buyer will arrange the signing of the contract, prior to which the seller will have sent the funds to their lawyer’s client account. At the time of the signing, the funds will be released to the buyer’s lawyer and then to the seller’s lawyer. The period can be longer if there are delays with the land registry office or any complications with the sale.
NB – This North Cyprus Property Seller’s Guide is offered as advice only. NCI cannot guarantee the sale of any particular property but we do not take on properties to market which we don’t feel are likely to sell. We cannot be held liable for any delays with the sale once it’s in the hands of the lawyers but will always do all we can to help to expedite the process.
If you are interested in selling your North Cyprus property through NCI, please contact us at help@northcyprusinternational.com or call at +90 548 861 0600 to schedule your free valuation or have a chat to learn more.
