1. What will be the expenses for the transaction of Real Estate?
2. What supporting document do the banks need for in order to release housing loans?
3. In what you must be careful about the real estate’s ownership titles?
4. Some useful information about Real Estates-Plots
5. About the justificatory papers which are necessary for a transaction?

What will be the expenses for the transaction of Real Estate?

• Attorney’s fee. The provided fee, for the representation, based on the code is being presented as following: 1% until the sum of 44.021 euro and 0.5% for the amount beyond this limit.

  Furthermore, you will have to pay the expenses for the documents control, as well as those for stamp transcription and purchase. The fee is given along with the contract’s signature and is being estimated according to what is recorded in the contract.

• Notary public’s fee. (IT CONCERNS ONLY THE BUYERS)

  For a real estate purchase you will pay notarial expenses according to the recorded value beginning from 1,4% up to 1,8% wherein there will be comprised share for legal office, notary public insurance office, charge for contract’s attested copies, transcription etc.

  (Note: The Attorneys and Notary publics fees mentioned above are closely related to the experience, the abilities, the facilitations and the accomplishment rapidity of their duties.)

• Estate agent’s fee. In order to buy or sell your real estate you will have to pay more or less 2% of its real agreed value. This fee is being given to the legal estate agent the day of the final contract’s or preliminary agreement contract’s signature.

• If it concerns real estate leasing, and moreover in case of housing leasing the fee is the half of leasing price of the whole value, while if it concerns professional leasing the fee is the price of the agreed value. This fee is given the day of leasing signature.

  In order to avoid unpleasant situations you are advised to cooperate only with legal real estate agencies that are being controlled by the Professional Chamber and consist of active members of Real Estate Agents Committee sited in Thessaloniki which was founded in 1922.

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Τι δικαιολογητικά χρειάζονται στις τράπεζες για τη λήψη στεγαστικού δανείου;

For the loan’s preauthorization:

1. Application of allowance for the Housing Loan
2. Dual aspect photocopy of the Identification Card
3. If you are wage earners, they are needed photocopies of the three last payroll’s receipts
4. Photocopies of the three last years liquidating papers
5. If you are freelance, you have to give analytic taxation elements (Printed matter type E3 for the last 3 years).

For the Loan’s approval:

1. Real estate’s ownership title-real estate’s transcription certification.
2. Reference of the estate’s horizontal and vertical state (Apartments building regulation)
3. Warrants that probably refer to ownership titles.
4. Certification which declares that the land registry won’t claim the attachments, the burdens etc.
5. Topographic diagram of the building plot as well as coverage diagram.
6. Cadastral detachment (Provided that the real estate’s area has already been subsumed).
7. Designs-Ground Plans.
8. Structure’s license photocopy made by the town-planning service.
9. Budget of projects written in a special document for the instances of erection or completion.

For the Loan’s draw:

1. Insurance and Finance awareness paper
2. Mortgaging certification by the qualified land registry department

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In what you must be careful about the real estate’s ownership titles

It comprises the control, made by an authorized Legal Representative, of the ownership titles legitimacy from the Shares books. The control mentioned above has to cover a large amount of years. This control includes possible burdens such as sequestrations or magisterial decisions made by legal or natural persons, mortgages, etc.

Furthermore it comprises a control being done at the Court of first instance regarding the possible commercial activity of the owner in order to certificate that it is non under a compulsory management state and there hasn’t been submitted an application for bankruptcy.

Control of the possible real estate’s obtaining by an inheritance, of the death act by the register, inheritance certification, and certification which declares no withdrawal or nullification of the real estate.

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Some useful information about Real Estates-Plots

A plot is a piece of earth which is sited in a particular town-planned design of a city, village, Hamlet or is sited in the limits of a residential area without an approved plan. In order to built e legal real estate in a building plot this has to be complete and fit for building on.

In an indivisible building plot each ones rights and obligations are defined by their joint-property percentage.

A vertical ownership is an indivisible joint-property in a building plot with the right to built more real estates, into this or in some distance of this or finally in their contact line. Every part-owner has the right of the exclusive ownership in one of these real estates or in part of these and moreover obtains the right of the building plop department’s exclusive use wherein is located or will be put the real estate.

When it concerns a Plat it has to be complete and fit for building on and provided that it stands up to the building terms there can be introduced a horizontal ownership.

With the term horizontal ownership we mean the definition of a discernible possession for each ownership when it is about a real estate that consists usually of a number of floors and upon the building plot of more than one real estates and furthermore is being defined a joint-possessing percentage regarding the building plot as well as the real estates communal parts.

Before buying a building plot or a plat there have to be done controls at the Department of Forest Inspection as well as at the Archaeologic Service and furthermore there have to be detected possible commitments by the Municipality or prenotations by the Land Registry department.

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About the justificatory papers which are necessary for a transaction

Justificatory papers regarding the buyer:

1. Photocopy of the Identification Card
2. Photocopies of the five last years liquidating papers (in order to prove means test)
3. Photocopies of E1 and E9 printed matter documents
4. Familiar Condition Certification
5. Accountable Declaration of the law 1599/86 for the first residence
6. Deposition of Tax Declaration as long as it turns up

Some of the justificatory papers mentioned above serve only for the dispensation of the transference rate and according to the situation there may be needed some accessional papers.

Justificatory papers regarding the salesman:

1. Photocopy of the Identification Card.
2. Transcription and Purchase Contract of your real estate.
3. Topographic design by the Town-Planning department containing a civil engineer signature as well as its topographic designs.
4. Certification by the Municipality for the T.A.P.
5. Certification which declares that the Parental Supply Donation Tax has been given etc.
6. Certification that declares that the real estate is denoted at the printed matter document E9.
7. Tax-awareness by the Internal Revenue Service.
8. Insurance-awareness by the Institute of Social Insurance (I.K.A) in case of being a freelance or a commercialist or in the event of occupying personnel.
9. Photocopy of the liquidating papers.
10. Cadastre copy in case that it turns up.

In some cases it is possible that there will be need of some more documents and certification papers for which you will be automatically informed by your notary public who assumes the responsibility of the contract.

The buyer is obliged to submit a Tax-Transmission Declaration (F.M.A). It is submitted in common with the salesman. The declaration is submitted by the buyer or one of his representatives in the organization of D.O.Y (Public Financial Service) at capital’s department, to which belongs the declared real estate. The tax-transmission declaration (F.M.A) is submitted prior to the contract’s signature and moreover is being paid simultaneously the tax which probably occurs. If the taxes sum is up to 880 euro it is being paid in cash. If it is major than that there has to be submitted a banking check according to the qualified department of D.O.Y organization.

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