Maisonette Vavelon, 10, Center, Siteia

Opportunity for a Home ownership island of Crete Greece.

Choose from a:

1) A Full 100% ownership 390,000€

2) A 50% Co-ownership 195,000€

205 m² ( 2000 sq ft) single family 3 bedroom 3 bath 2 car garage Townhouse.

Property location:

City of Sitia Eastern part of the island of Crete Greece.
This Townhouse has amazing scenic views of the bay of Sitia and the Aegean Sea.
The said property is situated in a special city zoning area, where no apartment buildings are allowed. Upscale quite neighborhood, but only 7 minutes walking distance to downtown and city Marina.

Mild Mediterranean Winters, beautiful Spring, Fall, and cloudless dry Summers.

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Voted as the most pleasant climate on earth by thousands of visitors of Travel & Leisure magazine.

http://****.**-most-pleasant-climate-on-earth-new-report-8572179

City Airport is 5-7 mins away w/ non-stop flights to Athens and other locations within Greece and abroad.
Seaport is 2 mins away w/ ferry service to Athens and other cities.

Ideal for families and individuals who do not wish to live in Greece all year round.
Great Real Estate investment!!

Ytong block construction ( thermo insulating, nonflammable Earthquake resistant)

3 Bedrooms (one is Master bedroom)
3 Baths: 1 Full bath,1 Shower bath,1 WC

Granite counter top kitchen, cherry wood cabinets
Miele appliances: Fridge, dishwasher, oven, exhaust hood ( all stainless steel)
Washer/Dryer

Solid hardwood floors everywhere!! except the bathrooms.

Roof construction terracotta tiles
Exterior doors and windows are constructed of tough, dense, highly durable wood (African Iroko). No rusting ever, excellent all weather material.

Large windows and doors allows plenty of sunlight to come into the house.
Extra large balconies all around with lots of outdoor seating space.
Skylight above allows natural light to come in.

Security system (infrared-laser bars)

Fireplace.

Air-conditioning 3 new units.

Solar panel hot water heating.
1000 liter emergency back up water tank with electric pressure pump and water filtration system in the garage in case of water interruption due to any city repairs.

2 Car Garage (75 m²) ( 750 sq ft)
Garden 30 m² for planting vegetables.

Co-ownership 195,000€ proposal. Terms:

1) Both owners will have equal rights and responsibilities.
Rules of governance (usage) of property shall be established by both, the buyer and seller,

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prior to the closing of the deal.

2) Each co-owner will have exclusive use of the home for 6 months on a yearly rotation basis

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e.g., (January 15 - July 15) then next year (July 15 - January 15)

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Should either owner wish to purchase additional rental time ( the remaining 6 months) he or she

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shall have the option to do so at a pre agreed monthly rental €_____ amount.

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Each co-owner is free to manage the 6 months per year of his/her's property usage however he/she wishes either personally, recreationally, or commercially. Commercially-wise it can be rented out to short term rental

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platforms like Airbnb, Booking, VRBO earning rental income for any unused months.

3) At closing a _______€ maintenance and repair account should be agreed, established and funded by both

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owners for any maintenance or repairs needed in the future.

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Either homeowner at any time could sell his or hers 50% property share on the open market, but the other Co-owner will have the "right of first refusal" that is to purchase the remaining 50% stake up for sale.

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The sale price at the time,should be the market price,in consultation with an approved Real Estate appraiser.

P S. We are open to additional suggestions about the 50% Co-ownership.