Expenses for formalization

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Costs paid by the buyer when placing ownership of real estate in Greece

1. Attorney’s fees : 1-2 % of the actual value of the property .

2 . Notary fees amount to 2 % of the cadastral value of the property , plus a fixed amount ( notary fee ) € 500 for the preparation of the contract.

3 . Agency Commission : 3%.

4 . Tax on the transfer of ownership is (if a building permit issued before January 1, 2005): 9% of the cadastral value of up to € 50,000 and 11 % of the remaining amount , or 23% when buying facility constructed later.

5 . Council tax: 3% of the tax on the transfer of property rights.

6. Registration tax in the cadastral registry: 0.5 % of the cadastral value of the property .

7. There are other requirements , “From 10 January 2011 the owners of houses with an area of 50 sq. m and more , in the case of sale or lease of the house , must be certified by the efficient use of electricity. Issuing certificates of inspectors produce electricity company with pre- test and electrical meter ( meter installation , wiring plan , government fees , water supply connection ) up to 1000 €.