Cyprus-Forum.com

[witchhazel]

At the end of 2003/start 2004 I contacted BuySell to sell my house. I asked them for a copy of the contract they wanted me to sign but then my husband became ill so we decided against moving. I have looked for that old contract by cannot find it but I am sure they said they were estate agents and wanted 5% commission.

I recently contacted them again as we are now thinking of moving but this time their contract gives the name Nikiforos Technogolgies and says that they are Advertising Agents.

Can anyone tell me when the changed their contract and why?

Also am I right in thinking that we can offset estate agents fees against Capital Gains Taxes and if so could be do the same for advertising Agencies because if not then in effect using them will cost me 20% more than using an estate agent.

[Sotos]

In Cyprus there is a complicated situation on how estate agents can get licenses. To cut a long story short BuySell are estate agents disguised as Advertising agents Svetlana is the expert on these things. Wait for her reply.

[Buddy]

Yes and they have just won a court case against them, can't believe how they managed that. Wonder what size the brown envolope was.

This opens up a huge can of worms.

Buddy

[Svetlana]

BuySell won a recent Civil case in Paphos, more I suspect on legal technicalities than the issue of whether they are Estate Agents or not. So, in a nut shell, they are not Estate Agents and therefore you cannot set their Fees against any Capital Gains Tax.

Lana

[Hazza]

So let me get this straight, for arguments sake I'll keep the numbers simple (I only have a small brain )

If you "Advertise" your house with Buy Sell and it gets sold for £100,000, you still pay them the £5000 (5%) in advertising fees?

If you try to sell using their "adverts" are you exclusive to them or can you use an "estate agent" as well?

Reason I ask is because I will be flat hunting in the new year to buy rather than carry on renting, so wouldn't mind knowing the ins and outs (especially because I'm a first time buyer).

[Svetlana]

Hi Hazza

I do not see a difference between you 'advertising' through them and selling through one of their adverts. Perhaps I have missed something - or do not understand how they work.

I do not think BuySell insist on exclusive listing.

Lana

[Hazza]

Thank you Lana