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selling villa

Posted: 19 Feb 2020 14:00
by Lorraine
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

Re: selling villa

Posted: 19 Feb 2020 19:28
by Nigel Howarth
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.)