Articles and Advice » Buy New or Resale Property » Advantages and Disadvantages of Resale Property

Disadvantages of Resale Property

Here are some disadvantages of buying Cyprus resale property:

1) The most important thing - you have to rely on your own. Whether anything goes wrong with your deal, you will have to face all the problems on your own. In the event of buying s flat in the new project, there will be many people along with you. Whenever anything goes wrong, you may fight as a group.  Though if you buy a resale home, you will have to handle all alone.

2) Each resale property is different, so that it takes lots of time to visit different agencies and properties to find desired one.

3) It is difficult to find good resale properties. Most of the time you will have to depend on an estate agent who will get significant commission for resale property deal.

4) It is hard to find good real-estate agent. Even if you pay commission to the estate agent, does not mean that you are going to have proper deal.

5) Good resale properties quoted as high rates, as it is very difficult to find them, which means you cannot negotiate much on them.

6) If you want to ensure that all papers are proper, you have to find a good trusted lawyer. This will coe at a big cost as well.

7) A resale apartment might require huge maintenance expences.

8) A resale property might have more than one owner, and it might take more time in order to purchase it.

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