TRANSFER OF PROPERTY
CHOOSING A NOTARY
The Notary has the legal jurisdiction to certify the correctness, fidelity and authenticity of certain documents and to legalize the relevant transactions between the parties. In particular, he draws up and keeps in his archive documents proving the legal agreements between two or more parties (contracts) and general documents that constitute evidence of various legal acts. The notary does not represent either the buyer or the seller, he is a public officer and in his own presence the contracts are drawn up, read, understood and signed. The notary then prepares the draft agreement and is responsible for the certification and registration of the transaction in the public registry.
Our office cooperates with established and experienced notaries in order to carry out each procedure effectively to the best interest of our clients.
NECESSARY DOCUMENTS FOR THE TRANSFER OF PROPERTY
– Important documents relating to the property
– Important documents relating to the seller or buyer (natural or legal persons)
All the required case-by-case documents for the drafting and signing of the notaries will be collected according to notary’s guidelines.
INDICATIVE PROPERTY TRANSFER COSTS
1. Notary fee
The notary’s fee is set indicatively from 1% to 2%, either on the stated price of the contract or on the objective value, depending on which value is higher. In addition, it is required to pay additional costs for copies of contracts, fixed fees, stamps, etc.
2. Lawyer’s fee
When drafting the necessary documents before the notary, a lawyer must be present if the amount of the contract is equal to or greater than 29.347,0286€ for the regions of the Bar Associations of Athens Piraeus and 11.738,8114€ for the regions of the other Bar Associations of the country. The minimum percentage of the lawyer’s fee is determined based on the value of the property and varies between 0.01% and 1%.
3. Real estate agent fee
The real estate agent’s fee, if there is cooperation, is set at 2% of the commercial value of the property.
4. Property Transfer Tax
The purchase of property is subject to transfer tax. The tax rate is set at 3% either on the stated price of the contract or on the objective value, depending on which value is higher. Property Transfer Tax paid to the corresponding Taxation Office before signing the contract. The buyer is entitled to exemption from Property Transfer Tax for the purchase of a first home, under certain conditions for which it will be informed by an appropriate tax consultant or notary.
5. Local Authority Tax
An additional fee of 3% is set on the property transfer tax in favor of the local authority within the limits of which the property is placed.
6. Registration fee in the Land Registry
The transfer of the purchase and sale contract to the Land Registry of the area where the property belongs requires the payment of approximately 0.5% either on the price of the contract or on the objective value, depending on which value is higher.