CPV STORIES

A private investor approached us with his idea to invest in building a hotel in one of Limassol’s prestigious locations.

The client first asked a real estate agent to look into his query and was presented with a piece of land that met the required criteria at the price between 3-4 million. The real estate agent demanded 2 million in advance before proceeding to any further actions. The client was in doubt about the asking price and asked us to consult and form an accurate buying decision. The initial step was to evaluate all the land-related information, including the investigation of the actual land and area.

To protect your investment from a risky deal and unfair transaction, CPV Corporate suggests ensuring that the price given to you is equal to the market. One option is to investigate the market by requesting a price list from 3 random firms in the market. Evaluate given prices and proceed with a fair investment.

HOW WE HELPED

Our team of experts found that most of the criteria was in line with the estate agent’s listing, but one thing was missing – a road.

Our next step was to get in contact with the land registry in Cyprus to request confirmation that the land path exists and that the land is as stated "directly on the beach". The land registry department confirmed our doubts that the land was listed as "close to the beach" and at an overestimated cost.

Therefore, we came to the conclusion that the estate agent exaggerated the price to receive a higher commission. As the final step, we arranged a meeting between the client and his real estate agent to open up the papers. In the end, our client asked us to find a new real estate agent to complete his investment accurately. CPV Corporate saved a client from a 2 million scam.