selling villa
Posted: 19 Feb 2020 14:00
Hello can you please advice on costs when selling a villa with title deeds. Also is it true the banks Hellenic charge you to take your money out. thank you Lorraine
Hello Lorraine and welcome to the forum
If you sell your property through an estate agent, their typical fee is 5% (+VAT) of the price achieved.
I recommend you appoint a lawyer (as you would in the UK). I don't know what they will charge, but you can find a list of English-speaking lawyers on the list provided by the UK Foreign & Commonwealth Office at list of English-speaking lawyers for British nationals in Cyprus.
As for other costs, you may be liable for Capital Gains Tax - more information at Capital Gains Tax on the sale of property in Cyprus.
You'll also have to pay any outstanding taxes - income tax, property tax, sewerage tax, etc.
As for banks charging you to take you money out - do you mean out of the country? If so the answer is yes and you can find their charges on their websites. (It may be less expensive to use a currency transfer company - suggest you check them out.)
Regards,