Selling your property in Crete

Selling your property in Crete

Whether it's an apartment, villa or business, we can market your property.

If you are interested in selling your property please contact us by email, by phone on 0030 6944 843564 or 0030 28250 32625.

Alternatively just call into our Almyrida Office and we'll be happy to meet you and discuss your options.

We will be happy to arrange to visit your property and provide a valuation.

If you want to proceed with the sale after our valuation, we will take full details and photographs of the property. We will then produce full colour brochures to market the property both on the main website and through our Almyrida office.

We will also market your property across our network of contacts and European websites. We also use a variety of alternative media channels to improve your chance of a succesful sale and completion.

Our fees for marketing and selling the property are 2.5% of the agreed selling price - payable on completion.

Included in the fees are all marketing materials, advertising and all subsequent viewings. Ours services include helping both parties through the sales process from beginning to key handover.

At Dreamcatchers we aim to work as hard for yourselves as the seller as we do for our clients looking to buy. We are always available to offer any help required and provide as much feedback as possible on any viewings.

Here is some information about Selling a Property here in Greece ...

THE SELLING PROCESS

MARKETING

We of course have our own web site – which has just been updated to give better images and videos plus better search results on maps etc

We also co-operate with various other web sites. EG all our properties are on Rightmove (we are regional partners), A Place in the Sun, Finn (largest/most popular site in Norway) – and via various agents associated mainly with Northern European countries. We also advertise directly in France, Germany and Russia.

COSTS FOR SELLING

You will need a lawyer to sell your property – who will need a Power of Attorney to act on your behalf. The Power of attorney can be done whilst you are here in Crete – takes about an hour of your time and costs about E80-90.

OR – (based on information supplied by us/your lawyer here) it can be done via a Notary in your nearest home town.

Lawyers fees.

You will need to pay your Lawyer for handling the sale process

Your lawyer should charge approx 2.0% of the selling price + VAT but please confirm directly.

Agents Fees

Our costs for selling are 2.5% inc VAT.

This includes all marketing costs and assistance from through viewings, finding and buyer and completion of the sale on your behalf.

We sell on a ‘no sale no fee’ basis so this is payable only on completion of a sale.

Other 'paperwork' required / costs

In order to sell, you need a certificate of legalisation issued by an independent Engineer who will compare the actual property with the associated building permit.

Any Discrepancies between the original building permit and the completed building are subject to a fine and engineers fees for correction.

IF you need help with this, we can assist if you wish – EG by getting you a written report / estimate detailing the issues and their related costs etc. OR you can request your lawyer to assist with this.

You may also need an updated topograph which has GPS satellite coordinates on it – depending on your properties year of construction and location. Cost ca E300-400.

You will also need an Energy Efficiency Certificate – cost ca E300-400.

All the above certificates can be provided by the engineer/topographer.

Plot Division

Due to recent changes in Greek Law it is now possible to ‘split’ a plot which was originally a shared plot.  As this is now possible, the lawyers of most buyers insist on this before their clients proceed with the purchase. (This is a contractual change only and doesn’t actually involve any physical change to the plots or the boundaries).

This process requires both properties on the plot to be legalized first and the plot division costs are shared between the 2 owners.

Unfortunately due to the high taxes involved this procedure can cost up to E4000-5000 per  house depending on the M2, location of the plot etc. ‘

Your lawyer and his/her notary will be able to confirm if this is necessary for your property.

Again it does not need to be done before you have a buyer but if the neighbour is involved

(and they are not selling/planning to sell) then it is good to agree any shared costs with them ‘up front’.

CAPITAL GAINS TAX

Some owners/sellers had the ‘Assessed Value’ registered as their purchase price when they bought– much lower than the actual sales price - which saved on purchase taxes at the time. However this  means that Capital Gains Tax could be an issue now. Your accountant or lawyer should be able to tell you this.

Capital Gains Tax (CGT)  was due to be re-introduced in January 2017 but is currently suspended until Jan 2020

You should know what value was registered with the Tax authorities when you bought the property.

Local Taxes.

In order to sell, you will need a certificate from the Greek Tax Authorities to say that you do not owe any Greek Taxes.

This means that you will have to show that you have submitted a Greek Tax return every year that you owned the property and that all the associated taxes have been paid.

This will include property taxes – which may change when the property is legalised ( EG if it becomes ‘officially’ larger etc.)  - and any rental income that you have received (if that is applicable).

This certificate will be obtained via your Greek accountant – who (hopefully) you will have used to submit/pay the tax returns each year.

We would recommend that you know your costs of selling relatively accurately - prior to making a sale.

Because, buyers – particularly in the current climate – expect to make offers/negotiate on the asking price so you need to be able to calculate what you can ‘walk away’ with.

Funds after selling.

Only those funds necessary for the various fees and taxes, engineers’ costs etc need to be paid here in Greece.

The deposit and balance can be paid directly from buyers account to sellers account.

(EG  - UK to UK or Norway/France etc. to UK).

This is perfectly legal and all the transfer details are recorded in the sales contract.

This – no doubt - seems quiet complex. However, we do this all the time and will help you with the process and in dealing with all the professionals involved.

It is often best to involve a currency exchange company if the seller is not receiving funds in Euros. This is because the ‘High Street’ banks do not offer good exchange rates.

We can advise on this matter at the time.