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We do not charge commission to buyers

There are 3 reasons why we do not charge commission to buyers. The first is the most obvious, it saves you money, up to 3% on your purchase costs (if you would like to speak with clients that have saved money this way we would be happy to place them in contact with you). The second is not so obvious but equally important, to avoid a conflict of interest, which is vital to support best practice. In much the same way that it is unethical for a lawyer to represent both parties in a transaction, it is also not best practice for an agent not to have the same clarity. The third reason is that it encourages real estate activity here on the island. In the UK and many other countries commission is not charged to buyers. Corfu is competing to attract private buyers and serial investors who are focussed on their initial costs and the returns they may achieve. Many remark on their objection, as a matter of principal, to paying commission to acquire their real estate, when they can invest elsewhere and not have to meet this extra cost.
Information Centre

The purpose of this information centre is to provide you with key facts directly relating to the process of purchasing land or property. We have presented answers to some of the most frequently asked questions below.

'In addition to the purchase price of the property I want to buy, what other costs are involved?'

You would normally have to pay somewhere between 2 - 3% of the purchase price to the agent in commission, but at The Corfu Property Shop as a preferred agent with Savills International we do not charge the buyer commission, which of course amounts to a substantial saving.

So the charges that remain to be paid are as follows:

1. Legal fees - between 1 - 1.5% of the sale price (depending on the value of the transaction) and an additional charge for the Bar Association fees of 0.5% up to 44,040 euros and 1% over and above this figure.

2. Transfer tax - This is a government tax. It is calculated as an assessed value of the property and not necessarily based on the actual purchase price. The assessed value is usually lower than the actual purchase price. The purchaser is required to pay 7.21% on the first 14,700 euros and thereafter 9.27% on the remaining balance.

3. Notary public fees - This equates to between 2.2 - 2.5% of the tax assessed value, depending on the value of the transaction and including subsequent registration fees.

What documents do I need to bring with me in order to achieve a smooth purchase process?

If you are coming to Corfu with the sincere intention of making a purchase, you should bring the following documents with you. If you are intending to make a purchase in joint names then both parties must bring the following:

1) Valid passport - purpose: proof of identity.

2) Original birth certificate - purpose: to prove the names of your parents. Part of the identification process in Greece is for official documents to carry the name of one's mother and father.

3) Marriage certificate - purpose: if you are making a purchase in joint names as husband and wife, this is required to prove your marital status.

4) 2 x original utility bills dated within the last 3 months -purpose: proof of residential address.

5) P60s or tax returns for the last 3 years -purpose: to prove your income if you are intending to apply for bank finance to make your purchase.    

PLEASE NOTE

We aim to update the site regularly with useful information. . Should you have any questions you would like to ask us please do not hesiate to contact us by email or telephone. Our addresses and numbers are available on our contact page.