Buying and selling
Real Estate Fees
From the Owner for Sale or Rent of the Property
For Selling a Property
Fee 2% + 23 % VAT on the final selling price of the estate
Minimum fee of 500€ + 23% VAT for properties their final selling price is up to 25,000€
For Renting a Property
Fee equal to half a month's rent + 23% VAT for renting a house or one month's rent for renting of business premises.
From the Byer or Renter of the Property
For Buying a Property
Fee 2% + 23% VAT on the final selling price of the property.
Minimum fee of 500€ +23% VAT for properties their final selling price is up to 25,000€ .
For Renting a Property
Fee equal to half a month's rent + 23% VAT for renting a house or one month's rent for renting of business premises.
Tax liabilities and property buyer rights
The buyer is obliged to submit a declaration of Real Estate Transfer Tax (FMA) and to pay the tax due. Presented jointly with the seller and signed by both.
The buyer can be exepted from transfer tax in part or in full, if it fulfills these criteria.
If the contractor disagrees with the amount of the transfer tax, you can appeal to the Tax Courts within 20 days from the submission of the declaration.
The statement submitted by the buyer or his representative in the Capital department of the Tax Office the bought property belongs.
Both the buyer and the seller must have TIN
The TTP(Tax on Transaction of Property) statement is submitted before signing the contract.
The TTP shall be paid together with the submission of the declaration. If the tax amount is up to 880.41 Euro, the tax must be paid in cash. If the amount is greater, must be paid as bank check.
Purchase of land undivided
The estate agency ALEXpolis-akinita advises you in case you are ready to make such a purchase to BE extremely CAREFUL
The buyer of an undivided land is usually meant to participate together with other co-owners in the reconstruction of land and to acquire a separate ownership on some of the properties to be built. To obtain the separate ownership should be set horizontal and vertical ownership by a notary.
But first lets understand the following terms
Plot. It is a part of earth which is located either inside approved street city plan, town, village, or within the limits of settlement without an approved plan.
Undivided. It means that the rights and obligations of each one are determined by the percentage of ownership that has over the property.
Construction of property in land. In order to built property in a plot must be buildable in accordance with Article 6 of Law. 1577/85.
Horizontal property. By this term we mean the determination to separate ownerships for each co-owner, when of course this property usually consists of more than one floor on the land, either on total property, or for one or more floors serving a use (eg apartment, office, shop, etc.) and also fixed percentage ownership in land and common areas of the property.
Vertical property. By this term we mean the undivided co-ownership of a plot, with rights to build more properties in it, either in contact or at a distance from each other. Each co-owner acquires the exclusive property either of these properties or to a part thereof, and acquires the exclusive right to use part of the land, on which will be built property of exclusive ownership
Before you purchase undivided land or land with unfinished building, you have to watch for
That there are recommending deeds of horizontal or vertical property .
That there is spare build and coverage coefficient for your property.
That the building terms have not been modified by reducing the building coefficient or by reducing the permitted height or by lowering the coverage rate etc.
Provided these three conditions, then you can proceed to horizontal or vertical property purchase
When it comes to land, you must keep in mind the following:
Horizontal property can be set up if the land has building terms.
There is no possibility of a vertical property, which was repealed by N.2052 / 92.
Look out for any problems the parcel may have cause of no legal partition
If the parcel is part of large agrarian seller of property in the same area it should be checked for any debt in cash or land. In extreme cases it might not get a built permit
That must be checked at the Forest Service if it is part of the forest area and the Archaeological Service.
Off plan plots must be inspected, both in terms of layout and also the legality of the securities and the titles.
One of the most common problems is the depletion of the permitted building rate of the other co-owners. This situation creates even more arbitrary, in which one takes refuge necessarily cause the co-owners let him no structuring margins. Otherwise one will not build at all.
Controls of City Plan across Greece, the largest number of illegal buildings and additions, have been found in buildings erected on land off plan with undivided co-ownership.
Consider all this you should therefore make the appropriate checks as our office list below:
You should searh for the original deed,usually attached to the topographic diagram
You should check the deed referred to the rights and obligations of not only owners have built but also those that have not yet begun to build.
You should check the vertical property το be clear in the chart coverage of the plot, two or more parts of the whole plot, the imaginary boundary that separates each one and how much is the coverage rate for the whole of the land and for each piece separately, and the building factor of the whole and of each segment separately
You should also check whether the land is bound by the Municipality or if pre-ticked by the Land Registry, or if there is a problem with archaeological findings under the provisions in force each time.
Expenses for buying and selling property
Costs for the purchase or sale of your property are:
Solicitors fee: The minimum required remuneration for lawyers by Lawyer Code is as follows: 1% up to 44020.54 Euro and 0.5% for the excess. In addition 14.67 Euro for purchase of insurance stamps.Remuneration is paid on the day of signing the contract and it is delivered at the Lawyers bar.For buying and selling a property on any objective value or face value over the objective one, for reasons of borrowing. E.G property for 100,000 euros will pay (440.20 + 279.90 + 14.67) Total 734.77 Evro. Moreover you have to pay for the documents inspection fees and registration fees in the land registry.
Notary fee: For the purchase of a property you have to pay 1.20% of the value indicated in your contract.
For parental provision or donation your obligations equal to 1.2% plus 0.65% (for the Legal Fund) on the recorded value in your contract.
IThe above remuneration does not include the cost of certified copies of contracts which is about per sheet. Expenses for Legal Fund shall also pay an amount of about 70-90 Euros for the three copies that accompany your contract. The first copy is for you, the second is for the transfer in the Land Cadastre and the third for the tax office. The copy for the tax office is not required to be certified. If you need to get a loan, one more certified copy to the bank is requiered. E.G. the property market face value of 100,000 euros will result in (1,200 +80 €) Total 1280 Euros as a fee.
Be aware that the 1.20% you pay to the notary, 85% is the fee of 9% is the contribution to the legal fund and 6% goes for notaries' insurance fund.
Estate agent's fee: For sale or purchase of your property your obligations are about 2% on the final agreed price. The payment of the real estate agent is made by the signing of final contract or half of it by signing the preliminary contract.
Caution:Cooperate only with legitimate Real-Estate agencies controlled by the Professional Chamber to avoid unpleasant surprises. Do not sign more than one command on the same property.
Those responsible estate agents can pleasantly surprise you with the negotiating skills, since they are the best connoisseurs of the property market. If you want to sell your property, you have this in our office and we will display the best way, seeking the best outcome for you.
The responsible estate agents can pleasantly surprise you with their negotiating skills, since they are the best connoisseurs of the property market. If you want to sell your property, assign it to us and we will displayit by the best way, seeking the best outcome for you.
Legal and technical assistance
Within the regulated Law on compulsory representation by a lawyer and notary in drafting the purchase contract, sale or consideration, our Office can provide full legal coverage and protection from experienced and trusted lawyers and notaries, with extensive experience in real estate.
Our legal advisors will be in defence of your interests with passion and knowledge whenever you need them and will undertake to carry out as soon as possible, in the most perfect way, any transaction is subject to legal control.
Real Estate Mandates
Owner's Mandate for Sale or Rent Property
The collaboration of brokerage ALEXpolis-akinita office with the owner of a property who wishes the sale or renting is enshrined by the drafting of the "mandating" stating full details of the owner, the items of property, the sale price or rent and the agreed rental price.
Buyers Mandate for buying or renting a property
Our brokerage cooperates with the prospective buyer or tenant of a property after it is enshrined in the drafting of the "Order Suggestion" stating full details of the prospective buyer or tenant, elements of the property, the purchase price or rent and the agreed rental price .
Property evaluation
Most often the owners of a property for sentimental reasons tend to initially overestimate the value of their property. Please be aware that buyers interested in your property are not emotionally attached to it like you, but they buy, comparing it with other available for sale properties in the area.
The usual questions raised by someone who decides to sell his property, is: how much is my property worth? I sell at a good price, or I lose money? Do I overevaluate it and delay the sale?
The real estate evaluation is normally used by banks, large companies and individuals to evaluate their assets, having as goal the sale, loan or mortgage of it. The evaluation costs a bit, but knowing the prices yields in the future!
DOCUMENTS REQUIRED FOR ASSESSMENT
Topographical Design
Copy of contract
Floor plans of buildings
Building permission
Autopsy and photos by the appraiser from our office
