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Kos island
COMPANY PROFILE
BIOGRAPHY

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PLANS - CONSTRUCTION
TRANSFER
INVESTMENTS
MAP OF KOS
CONTACT

Kos island lies very close to the Asia Minor and 201 nautical miles from Piraeus.
It has an area of 290 sq. km, a coast line of 112 km and a population of 20.000.

Kos can be reached by air from Athens and Rhodes or by ferry boat from Piraeus, Rafina, the Cyclades, the islands of the northern and eastern Aegean, Kavala, Crete, Rhodes and the other islands of the Dodecanese.
Kos is the island of Hippocrates (father of medicine).

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  KOSIMMOBILIEN
  Kos Property and Construction Consultants
  13, ARTEMISIAS STR.
85300 KOS ISLAND, GREECE
  Tel / Fax 0030 2242026329
Mobile 0030 6944519940
 
e-mail
   
Transfer of property
THE PROCESS FROM SIGNATURE TO KEY  

The following is a GUIDELINE only on the process from agreeing to purchase a property, to the final receipt of the property key.

Customer formally agrees to purchase with KOSIMMOBILIEN, confirming that a deposit will be given or sent to KOSIMMOBILIEN in order to block the property, i.e. express the customer's intent to buy, at a certain price, and within an established time limit, ensuring that the vendor takes the property off the market. This deposit depends on purchase price.
If, for ANY reason, the customer changes his mind and does not proceed with the purchase of the property, THIS DEPOSIT IS NOT REFUNDED.
The deposit is always refunded (without interest) to the customer if, for any reason, the property cannot pass to the purchaser due to complications or problems arising from the vendor or his agent.

A LAWYER and a NOTARY PUBLIC are appointed by the customer or on our recommendation. They will make the necessary searches of the property at the Land Registry.
Usually it is the same Lawyer that assists and must be present by law at the Notary Public when contracts are exchanged.

An Architectural Survey/Topographical Survey giving a technical description must be presented. Based on this, the Notary Public makes the written description of the property and a copy of this becomes an integral part of the contract. This is a formal document which is conducted by the architect. It is always advisable to have one prepared, even if a Topographical Survey is presented by the owner, to guarantee the purchaser's interest on dimensions of property etc.
* Note: The cost of such a document varies depending on size of property and detailing. The minimum cost is 300 Euro.

What follows is carried out by the NOTARY PUBLIC. After all documents are collated, the necessary taxes (9-13% on Tax Office Assessed Price) which must be paid, are calculated and presented to the Tax Office.
Taxes Office property value assessment:
This is assessed on every individual property based on pre-established and known assessed prices area per area.
These last are updated every year by the Greek State.
The purchase taxes (always paid by purchaser) and the fees for notary public, lawyers, etc., are perceptually calculated on the Taxes Office assessed price or on the market price if this last is higher than the Taxes Office assessed price.
* Note: SELLING PRICE (market price) and ASSESSED PRICE (official price) of properties do not always coincide.

As soon as the information on the tax fees is available, all the costs related to the property price, the taxes and the Notary Public and Lawyer's fees are to be paid by the purchaser.

Contracts are exchanged in front of the Notary Public and in the presence of two Lawyers.

The registration at the Land Registry, which is held immediately after exchanged of contracts, is the definite and irrevocable proof that the purchaser now owns the property.

*** THE KEY IS HANDED OVER. ***

 
INDICATIVE FEES
Lawyers search 1% on purchase price approximately
Topographical Surveys Minimum 300 Euro
Purchase Tax 9-13% (on Taxes Office Assessed Price)
Lawyers Fees for the contract 1% for the first 44.000 Euro and 0,5% for the remainder
Notary Public 1-2% of the Taxes Office Assessed Price
Land Registry 0,45% of the Taxes Office Assessed Price
Other Taxes Depends
Miscellaneous i.e. photocopies Depends
*Generally, we advise customers to estimate a figure of between 10 - 15% of the purchase price to cover all the above fees.
Kos, Real estate
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