No Deal, No Pay Policy! No Upfront Payments either!
Foytina had and shall always develop its' business on the principle that real estate services must be affordable and flexible to all. Considering the trends of the Market and the fact that everyone is trying to be more flexible when coming to property deals, Foytina offers the most versatile pricing approach compared to other property agencies around!
Foytina can list properties located in any part of Cyprus, being for sale or for rent. Brand new or resale units make no difference to Foytina as an extensive property seekers portfolio is retained, being ready to buy or rent.
Foytina currently offers two (2) listing methods to property owners. First method is percentage based and second method is done by fixing an amount to be paid to Foytina. For both methods, seller pays Foytina upon deal, no upfront payments are required.
Percentage Based Listing, is a listing method allowing owner to set percentage-wise how much Foytina will be paid upon a successful deal of the property. This is actually the most common way real estate deals are made. No upfront payment is needed!
Percentages rates in Cyprus are normally 5% plus VAT. However, Foytina can assure you for a lower rate from any competitor! Please contact us to find out our rates, terms and conditions. Mind you that the agreed percentage gets calculated on the deal price. If for example, a property is listed for an advertising price of 200.000 Euros and the deal price is 180.000 Euros, at an agreed percentage of 5% commission, Foytina's receivables shall be 9.000 Euros (instead of 10.000e), yet owner has to pay for any other liabilities.
Fixed Amount Listing, is a listing method Foytina has developed to allow owners to receive an agreed amount of money after the agent's rates gets deducted upon a successful deal of the property. No upfront payment is needed!
There is no straight forward answer because seller agrees on receiving a specific amount after Foytina's rates are deducted prior seller pays any other liabilities. Let's say that you get your property listed for an advertising price of 200.000 euros! In a percentage based listing, if the deal price is 180.000 Euros and the agreed percentage is 5%, then Foytina shall receive 9.000 Euros, meaning that seller shall end with 171.000 Euros, yet seller has to pay for any other liabilities.
If seller however list the property as a 'Fixed Amount Listing', this provides that he shall receive an agreed amount of money, yet have to pay for any other liabilitites. For instance, if the advertising price is 200.000 Euros, the fixed amount is set to 180.000 Euros, and Foytina sells your property for 190.000 Euros, then Foytina will receive the amount of 10.000 Euros as commission, yet seller has to pay for any other liabilitites.
(Please note that the beneath information can be served to Foytina by your lawyer/architect)
1) Owners passports and contact details of their lawyer and caretaker
2) Property's Post address and an utility bill showing so
3) Copy of property's deeds or Final Certificate Approval or Contract of Sale bearing land registry's stamp
4) Duly signed Land Registry 'Search Form' or recent 'Search Report'.
5) Construction address and a general layout of project -if property is part of a project/estate-
6) Architectural Plans of property, photos and description
7) Key or PIN of the key box for accessing the building
8) Duly signed listing agreement between owners and Foytina
Listing actions will be taken by Foytina's staff. Listing actions are defined as the actions taken for collecting material of the property, prior its promotion begins. Such actions include visits to the property, capture of pictures, development of description, list of features, agent's mandate, collection of documents related to the property and the owners. Foytina will also ensure the high exposure of you property on our means of promotion facilitated.
- Listing plans might vary for owners with many properties
- Title Deeds is preferred to be free of any liens
- Listing options and rates might change without notice; the signed one with Foytina will prevail
- Foytina reserves the right to choose which properties to list or negotiate on the listing terms
Any requests by prospective clients shall be managed by Foytina. A property will be considered as being fully available from the listing date onward or any other agreed date; any changes affecting its' availability, must be communicated to Foytina timely. Any offers made towards a property shall be communicated to the owner for decision making before Foytina takes any other actions.