Kibkom North Cyprus Forum

Just out of interest has anybody ever been asked for a fee for the initial property valuation. I am only asking because I have been asked for £200 for a valuation regardless of whether or not I go with that agency. I was always under the impression valuations were free and they clawed it back with their fee when said property is sold.
That said, this is Cyprus and not the UK.

Regards

Tell 'em to sling their hook!

Tha's outrageous!

I have asked several estate agents in the past for customers who want to know the value of their property, the latest being May this year
If I wanted it in writing for the owner a charge of £50 to cover their time, fuel and paper costs, this was more when the house was being added to the kocan.
If I wanted the kocan checked out as many owners do believe its the full ticket and even though I say its a land or house deed its not until the estate agent says its this and effects the price by this I have been asked if the house is not marketed with them cost would have to be charged for and £100 has been mentioned

If they had recently sold a property in the area or knew the house design a guide could be given over the telephone

If historical like Bitter Lemons they enjoyed the chance to see it

Agree with Keith. Seek another company.

I am interested to know which company quoted £200 for a valuation so that I won't waste my time with them.

I agree that £200 is over the top. I asked for a valuation and was advised that it would cost £50, refundable if they sold the house for me. The agents viewed my property and I was given a written quote. I think this is completely fair, because they used their time, transport, materials and expertise. Why would you expect to engage someone to provide a service and not expect to pay for that service? Paying a fee also stops people having their property valued 'on a whim' simply to see what it is worth, even if they have no intention of selling.

Slightly different subject but i think the high fees agents cgarge is part of the problem in trnc .many charge 5 % and a min of 2 k . Average monthly salary is c £500. Ie 4 minths salary . What happens is agent goes to value house . Tells the vendor my fee is 5 % . Vendor says how much ?! Dont worry im going to get you a really good price for your house . Property is put on market at iver inflated price . Property stays on market for years .agent sells odd property to mug punter and only survives by the odd 5 % fee.

Reyntj wrote:Slightly different subject but i think the high fees agents cgarge is part of the problem in trnc .many charge 5 % and a min of 2 k . Average monthly salary is c £500. Ie 4 minths salary . What happens is agent goes to value house . Tells the vendor my fee is 5 % . Vendor says how much ?! Dont worry im going to get you a really good price for your house . Property is put on market at iver inflated price . Property stays on market for years .agent sells odd property to mug punter and only survives by the odd 5 % fee.

reyntj , Having bought and sold 2 properties here , I concur with your reasoning Each time that I approached an agent they have quoted a vastly inflated selling price, because they are on a percentage of the selling price , rather than a price reflective of the market, I had a price set in mind what they both would sell for and was fortunate to have direct buyers knocking on the door , Had an agent told me that the charged a fee for a valuation , I'd of told them to bugger off ! , That is part of their job