1. Do i need a lawyer ?
Definitely, yes. Lawyers complete all the necessary checks at the property titles and find if there are any weights, ie proprietary third party claims, seizures, mortgage liens or mortgages. Additionally, your legal adviser will guide you throughout the course of the process concerning the issues of the movement of the necessary funds to Greece, the issues of the settlement of the payment of the price, if required, as well as signing the contract transfers
2. Do i need a civil engineer ?
In certain cases, the advice of an engineer is critical for the evaluation of the real estate. The salesman, in most cases owes to bring a recent topographic diagram of his real estate along with the titles of possession of this real estate, in which any existing inside this buildings will be impressed, for which he will have to also provide the authorisation of their construction, specifically if they are buildings built after 1983. The engineer, can ascertain and appreciate the situation of a building as well as to offer precious information on its potential further growth or its renovation.
3. Do i need a special permission to buy property in Greece ?
There is no particular obstacle for the purchase of a real estate in Greece for the citizens of the European union. However, for the citizens of other countries, and particularly when it concerns the purchase of a real estate in regions named as frontier, you need special authorisation which is published by the Greek Ministry of National Defence.
4. What is the objective value of a property ?
The objective value of a real estate concerns its estimate from the Greek Inland Revenue. More generally, in a few cases, this value is still quite lower than the market value of the real estate.
5. Which are the expences to buy a property ?
Calculating the all essential fees and the taxes, the additional cost of the purchase of a real estate can exceed even the 15% of its market price.
6. Will i have to pay tax for my property ?
From the 01.01.2008 onwards, a united tax of the order of 0,1% on the objective value of the real estate overloads the owners of property in Greece.
7. Which is the procedure to buy property in Greece ?
• As soon as you select the real estate that you wish to buy, you should address both a lawyer and a notary.
• If you do not have Number of Tax Registration from the Greek Ministry of Finance, you should apply for one. (this can be fulfilled by your lawyer with benefit of power of attorney)
• In case you are a resident of a foreign country, you should create an account in a Greek bank so that the amount of money transferred by your country will be absolutely justified, and it will be certified that they will be used for the market of the particular real estate. (this can also be fulfilled by your lawyer with the benefit of power of attorney)
• Your lawyer, prepares a preliminary draft with the terms of the agreement and the payment of the real estate.
• You pay the advance of the real estate (it is advisable to deliver the sum of the advance to your lawyer and to attribute it only after the signature of the final contract)
• After the tax of transfer of the real estate has been paid, the final contract is made. This happens 4 to 6 weeks after your first step, in the offices of your notary. Present in the process of the final contract is also your lawyer, who obligatorily countersigns it.