Would you sell your property now?

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
15/10/2008 16:50

Forget about the current talks. Imagine if someone comes along and offers you the going rate for your property - would you sell it now and walk away?

Unhappy Buyer


Joined: 26/03/2008
Posts: 17

Message Posted:
15/10/2008 17:13

Not much on this board tempts me to post a reply..but this one...

Oh yes! yes yes yes please if only, but not much chance of that is there?

Oxoners


Joined: 24/01/2008
Posts: 128

Message Posted:
15/10/2008 17:41

I agree

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
15/10/2008 17:42

What's turned you off, Unhappy Buyer?

Unhappy Buyer


Joined: 26/03/2008
Posts: 17

Message Posted:
15/10/2008 17:49

No1Doyen - in answer to your question...The fact that we're in year 6 of this project..the house is ALMOST complete and we have permission for PART of our plot. Buying in NC is the worst and most costly mistake I have ever made and it just goes on and on and on when you think it can't get any worse, it still does !

Littlenige



Joined: 24/12/2006
Posts: 3594

Message Posted:
15/10/2008 18:10

yes yes yes and chuck a 6 seater hot tub in for free, would rent for the foreseeable future

JimmyG


Joined: 14/08/2008
Posts: 900

Message Posted:
15/10/2008 18:41

No, why would I ? It's paid for, I've got my title deeds, I love it and even though there's been lots of changes since I first visited 30+ years ago it's still the place I want to keep coming back to. As for selling, 2 of my immediate neighbours got top dollar for theirs this year....the most recent only 2 weeks ago so if I did have a change of heart I don't envisage a problem if I wanted to sell.

pilgrim



Joined: 11/05/2007
Posts: 1404

Message Posted:
15/10/2008 18:59

Yes, so I could afford to build another on beachfront if I could find a plot.

palace


Joined: 07/07/2008
Posts: 27

Message Posted:
15/10/2008 19:47

No not at all - we have a great 2 bed apartment overlooking the sea, adjacent to the enw proposed Marina, the build quality is great and we have electric!



I would even go as far and say that it has gone up in value.(probably/possibly)?

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
15/10/2008 20:22

No1Doyen,



Strangely enough, me personally NO! I suppose it was something of a retirement dream.

The whole issue tarnished by a lawyer that is more on the side of The Estate Agent and the

builder, than us, who pay his bill. A contract that is not worth the paper it is written on. A granddaughter who just wants a pool with a dolphin tiled into the design, and a holiday home in the sun .A builder who would try the patience of a saint who intends to do matters his way whatever the client (or the contract) says, but nonetheless in my opinion, intends to do a good job (in very very difficult circumstances) The same man who does not realise the importance of communication with his customers, and the damage that such an oversight can cause. A Government that will not ammend The Specific Performance Law and give property buyers the rights that they deserve. A Government that tells inward investors that the property that they are buying has been exchanged for land in the south of the isl

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
15/10/2008 20:39

island and is completely legitimate (when they knew otherwise)



A wife that is so sick of all the problems now wishes she had never heard of the place. A family that shared our excitement and because of all the delays now wonder if it will ever happen.I question why I should be buying all the latest Bosch kitchen goods, when there will be no electricity to use them, half of the time. A dishwasher and washing machine when we now learn mains water may not be connected for another 5 years.



Now the upside. I have met some of the nicest people, I have developed a taste for Efes (in substantial amounts) I have visited what could be one of the nicest places in the Med.I have joined a B/B that is the most informative, interesting, annoying, thought provoking and addictive habits imagineable.



Would we sell...would we hell! Will we ever get a kocan..God only knows. Will the site ever be finished as promised....likely.. Will I live to see it. Bugger it.....another Efes my good man.

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
15/10/2008 20:48

Will the country have a future as a recognised international entity? well I believe so, and I pray for success for the talks of MrTalat and Mr Christophias. I guess the future of all Cypriots and visitors that they welcome to these shores, rests with them .I guess the damned place just has a certain charm, and entices people who you just want to have a quiet drink with.



I think I may be a cypriot in the making!



Yevas Yevas..........................another Efes my good man! Was I conned.....Yes!



wyn

jimbo


Joined: 12/07/2007
Posts: 150

Message Posted:
15/10/2008 22:29

without a doubt

RedSnapper


Joined: 12/08/2008
Posts: 540

Message Posted:
15/10/2008 22:44

i like the trnc especially around esentepe where my place is and i also like girne. i sold my place in spain(just in time) and bought here, i had a small terraced house in spain and now have a villa with my own pool and full air-con near the sea for LESS money than my spanish sale price. the people are nicer in trnc, the weather is better. its more chilled and relaxing and you really feel like youre in a foreign country but with a hint of colonialism. the hidden pitfalls are the worst thing and the double meanings of your contract and a government that doesnt seem to care frustrate me terribly. the constant pecking away for money money money that you are never told of in the first stages of purchase. how can the country expect to go forwards?? i hold faith that things will evolve and in a couple of years be a lot better leaving you to enjoy your time on holiday.

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
15/10/2008 22:53

Redsnapper,



We too will be in our Esentepe villa one day! Christmas latest promise. We must have an Efes! Look forward to that!



wyn

RedSnapper


Joined: 12/08/2008
Posts: 540

Message Posted:
15/10/2008 23:03

yes mate i`m at karpasia village, side of TBV. it`s coming on now but has had niggling problems. its in the lap of the gods now as to the final hurdle getting the deeds sorted from kensington development group, hope they dont start demanding daft surcharges at the last minuite... i spent last xmas n new year there and it was enjoyable away from the uk madness! dont worry your villa will all come together.

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
15/10/2008 23:57

Looks like i am in for the long ride so fasten your seat belts.Still lots of twists and turns on this merry go round of ups amd downs,

Paul.

RedSnapper


Joined: 12/08/2008
Posts: 540

Message Posted:
16/10/2008 00:12

seems more like the ghost train at times.....

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
16/10/2008 01:02

Would I sell? YES.....Thats exactly what I plan to do when I get back to the UK!....Sell my UK house for the best price I can get and come back here as soon as possible!!!.........TRNC



Im going to be very depressed next Monday getting on that plan back to miserable England!



nunu

Perry


Joined: 27/01/2007
Posts: 413

Message Posted:
16/10/2008 01:31

Bought my villa as a shell and it was completed as agreed. We love the place and NO right now I would not sell. Especially now - we are Entering a recession (Mr Brown mainly to blame for UK - I agree with Wyn) plus the uncertainty in Cyprus as a whole.



Reality is - look on 10 year horizon - world markets will recover, we will get rid of GBrown and cronies in th UK in the next year, and - the million dollar Cyprus question - IF it reunifies the properties will surely become profitable.



At the end of the day it is still a great place to be.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
16/10/2008 09:53

Im going to be very depressed next Monday getting on that plan back to miserable England!



We are also going to be depressed nunu, as no doubt it'll start raining as soon as you land in the uk

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
16/10/2008 10:04

No1Doyen,

That was supposed to say Plane.....YOU do like your cut and paste dont you no1Doyen!



AND Yes.....sorry but it will no Doubt rain in Poxy UK on my return.....



Sorry about that.....TRNC are topped up a little now on the water table thanks to me!



nunu

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
16/10/2008 10:10

doh! I knew a bright spark like you would have noticed!

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
16/10/2008 10:20

no, would be my answer as we are pretty happy here most of the time.



if someone came along and offered us big,big money then yes, we would, as we have never been the sentimental types over houses.

we would still stay in cyprus though.

colly


Joined: 31/07/2008
Posts: 297

Message Posted:
16/10/2008 10:40

Nunu, it has just started as I read your post, what a surprise!



We did sell! We down sized and moved areas. I feel for all those experiencing problems. We were fortunate to choose a good build the first time and a small site where we would get connected. It could have been different! Second time it was renovations and again had a link to another good builder.

It would be nice to know that you could sell if required but we are in it for the long haul and know the risks.

If anything is going to sell it would be one with location. The old addage has never been more true. We have been fortunate in both our choices.



cOL

reproman


Joined: 05/06/2008
Posts: 252

Message Posted:
16/10/2008 11:29

ok, i got a question....



Imagine if someone comes along and offers you the going rate for your property IN THE UK - would you sell it now and walk away?



i know i certainly would! We all talk about risks..but there are risks in buying anything, esp property, in ANY country around the world...yes, sure, some places carry more risk than others, but there is still a risk.

A friend of mine only last summer, 2007, in the peak of the UK property boom purchased a 2 bed new build apartment in north london....for over £300,000.

The rooms are small and boxey, and as most of the other apartments remained empty, due to the crash, they have now given to Housing association! Who would of known after paying £300,000 he would effectlivly be living on a council estate?

Trust me, he regrets buying every bit, if not more, than anyone on this forum.

And he has no Sunshine/fresh food/quality of life as most of you enjoy living in Cyprus.



Repro

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
16/10/2008 14:03

Reproman,



Would we sell in the UK if we could get the going rate......YES!



No one knows where the UK property market is going. Our Supreme Leader has done much (through massive debt) to free up banking and mortgage funds, but you still will not get a mortgage if you are unemployed, and that is scheduled to top 3 million!



How much would you get if you sold in the UK now? According to the experts our bungalow has lost up to £100,000 in the last year!



We would downsize and move to Northumberland, where we would be near to Newcastle Airport, so that we can escape to our villa in the TRNC!



wyn

jakki



Joined: 23/10/2007
Posts: 865

Message Posted:
16/10/2008 14:18

My heart goes out to your friend reproman - north London has always been over priced in my opinion - just goes to show though there's always some poor bugger worse off than yourself.

simbas



Joined: 16/07/2007
Posts: 5943

Message Posted:
16/10/2008 15:14

most definately no !!!

ROBnJO


Joined: 30/06/2008
Posts: 1289

Message Posted:
16/10/2008 15:17

I'm getting confused between this and wyn's thread!



Answer on both, a definite NO!

reproman


Joined: 05/06/2008
Posts: 252

Message Posted:
16/10/2008 15:19

I have no sympathy for him, £300,000 on a tiny 2 bed apartment, he deserved what he got! We all warned him against it, but he insisted it was a good 'investment'!? I dont think he even liked the flat or the area, but he insisted it would be worth..'millions in the future'.



And i think this is where the problems begins........people who buy property for investment reasons run the risk of losing out, like all investments, Stocks/shares etc. But if you buy a HOME because you plan to live there, then surly you cannot lose. OK, you might end up paying more in the long run...ie compensation if it comes to that, or the value may drop...but if you really love your Villa/apartment in Cyprus, then surly its worth the extra hassle.



Repro

ROBnJO


Joined: 30/06/2008
Posts: 1289

Message Posted:
16/10/2008 15:55

I bought an apartment in West London 2 years ago.



It is now worth 20% more.



Everything is horses for courses!



Same in NC, your investment will depend on 'location, location,... etc



I bought where I considered was 'Location', in NC,....



Time will tell!



Hindsight is a wonderful thing, but it dont make you rich!



rob

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
16/10/2008 20:06

ROBnJO,



To clarify.......



No I would not sell my TRNC property, though I do insist on noting the path we (and everyone else) have to tread.



Yes I would sell in The UK, which I think is absolutely frightening at present.



Is there an antidote Large amounts of Efes in ice cold glasses!



wyn

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
17/10/2008 13:20

robnjo

we have always made good investments where ever we have purchased.

the main thing is to pay the right price when you buy it.

it can be in the worst location but if you only pay a small amount for it, you will always sell it and make a profit.



i will invested in anything, but it must be at the right price.