Why get a property valuation?
A valuation provides an expert opinion on the true market value of a property. This helps buyers negotiate a fair price and ensures the mortgage lender is lending based on accurate property value.
How does valuation affect mortgages?
Mortgage lenders in Cyprus usually require an independent valuation before approving a loan. This protects the bank and buyer from overpaying and confirms the property's worth aligns with the loan amount.
Choosing the right valuer
It’s important to hire a qualified and registered valuer familiar with the Cyprus market. Check credentials and ask for references to ensure reliable and unbiased valuations.
Cost and process
Valuation fees vary but typically range between €150 and €300 depending on property size and location. The process usually takes a few days and requires access to the property for inspection.
Final advice
Always get a valuation before committing to buy. It’s a small investment that can save you from costly mistakes and provide peace of mind during the purchase.