Welcome. The purpose of this section is to assist you in the process of buying a property on Corfu.

CIP has many properties which can be viewed from our property listing. These properties are categorized either as a house (H), house needing renovation (HR) villa (V), apartment (A), hotel (HO), land (L) or business (B) and each has a reference No. which is followed by an island location number. The island has been divided into 9 sectors. See map. An example would be A001CT which would indicate an apartment in Corfu town or H001NEC which would indicate a house on the North East Coast. A “villa” is a large house (more than 150sqM) with a garden and swimming pool. Whether a house is “attached” or “detached” will be indicated in the detailed description. 

Please browse through our property listing. Each property has a detailed description and a selection of photographs. Should you want further information please contact us on office@cipcorfu.com. We strongly recommend that you complete the “Property Request Form” (PRF) (Click here). This will enable us to search our data base for possible matching property or advise you should something new and suitable come onto our books. We will contact you by either email or SMS 
 

 THE PURCHASE PROCEDURE FOR PROPERTY AND LAND 
 

All citizens of the original 15 members of the European Union are permitted to purchase property in their own name. Citizens of the new members (entry 1^st May, 2004) also qualify for such ownership. However, it should be noted that for the time being the municipality of Corfu Town only has not agreed to accept buyers from the new entrants. For all other persons the purchase of property is subject to the following:-

     (1)    If the property is within what is considered a “border area” the purchaser will need to apply to the council of the local prefecture. CIP can assist with this procedure.

     (2)    A purchase can be made via a Greek or EU registered company. Once again CIP can assist with this procedure. 

The buyer is required to appoint a local lawyer who will be responsible for checking the Title deeds, the detail of any outstanding mortgage, if applicable, whether there are any tax liabilities and ensure there are no encumbrances. In the case of a land purchase the lawyer will also check the building rights. The lawyer will appoint a Public Notary who will draw the contract and record the property with the Land Registry. This procedure usually takes between 40 and 60 days to complete. (known as “completion”). The buyer is required to obtain a Greek Tax number. It is suggested that the buyer provide CIP with a Power of Attorney for matters relating to the purchase of the property. This will enable CIP to obtain a tax number and perform other functions should it be necessary. 

Buyer costs:-    

Transfer Tax. This is 9% for the first  € 14, 700 and 11% on the balance. These percentages are based on the Tax Office valuation for the municipal area of Corfu Town and some of the areas close to town.  All other areas are 7% for the first  € 14, 700 and 9% on the balance also based on Tax Office valuation. Transfer tax is payable at least ten days before “completion” and is paid to the Government either by the buyers lawyer or the Public Notary.

 Lawyer’s Fee. This is between 2% and 2.2% of the sale price and but also depends on the complexity and value of the contract.  The minimum is €300        

Public Notary Fee. This is 2.2% and 2.5% of the Tax Office valuation and also depends on the value of the contract. Minimum €500. There is a Property registration fee which is approximately €300.   

Estate Agency Fee. This is 3% of the sale price plus VAT of 19%

It is advisable for the buyer to be present at the time of signature of the contract. If this is not possible a CIP representative or someone else nominated by the buyer can sign (Proxy), such person must have the necessary Power of Attorney. Present at “signature” is the lawyer of the buyer and seller, the Public Notary, the buyer, the seller and a CIP representative. Once the contract is signed the transaction is deemed finalized and the Public Notary will register the contract with the Land Registry and supply the buyer with a certified copy. “Completion” is achieved. 

Because “completion” can take between 40 and 60 days, many clients prefer to sign a Pre-Contract. This document is drawn by CIP and once signed commits both parties to sell and buy respectively, an agreed “completion date” and the property price. The buyer is required to pay a 10% deposit which is held in trust by CIP until “completion”. Please carefully note the following:-

     (a)   If the sale does not take place because the buyer’s lawyer has been unable to satisfy himself/herself on the issue of clear title, the deposit is returned to the buyer. Any bank charges or currency fluctuations are for the buyers account.

     (b)   If the sale does not take place because the buyer does not wish to proceed, for any other reason, the deposit is forfeited.

THE ABOVE INFORMATION IS SUBJECT TO CHANGE AND VARIATION. EVERY ENDEAVOUR IS MADE TO UPDATE THIS INFORMATION BUT OUR CLIENTS ARE URGED TO CHECK ALL DETAIL AS SPECIFIC TRANSACTIONS MAY HAVE VARIATIONS.

Quality Professionals 

We have carefully selected and appointed professionals to assist us and our clients should they so wish. If you require help from any of the following please let us know:-

Lawyer            
            Public Notary
            Accountant
            Construction engineer
            Topographer
            Banker
            Insurance advisor
            Translator