STAGES OF PURCHASE
The process of buying real estate in Greece includes six main steps. Specific transaction details may require additional procedures.
More information about the properties is available on our website www.greece-invest.com. Our company has the most extensive real estate base in Greece. Fill in the application form on our website or contact us by phone. On request, we will select and send for consideration all options that are suitable for you. Our manager will answer all your questions about real estate, and, if necessary, provide additional information, familiarize you with the process of buying a property in Greece, taxes, laws, market prices, etc.
2. Inspection of the real estate objects
You can select the property right during a planned trip. One of our staff members will meet you at the airport and deliver you to the hotel. You can start inspecting real estate objects right on the day of your arrival in Greece under the condition that you come in the daytime. Based on the advanced selection, we will pick up 10-20 most attractive variants with similar features to show you. The initial object inspection usually takes two days. You will also need one more day for revisiting the most favourite objects for further examination, comparison, and negotiations with the owner regarding the final price, payment terms, and other details of the future deal.
3. Object reservation
The object’s initial reservation ‘usually amounts €3.000 – €10.000, depending on the property’s value.
4. Preparation for the contract
After booking an object, you will need to complete some formalities:
- Open a TIN (Tax Identification Number), requiring the availability of passport only. When registering the property for both spouses, you must have a marriage certificate with an apostille beside other documents.
- Open an account in a Greek bank. You will need it to transfer funds to Greece.
Then, you can return home and transfer the required amount to your bank account in Greece. In the meantime, our lawyer will check the legal “clarity” of the selected property. It usually takes from 1 to 2 days. According to Greek law, if there are legal problems, the seller must return the buyer’s advance payment. Then, the notary officer will work with our lawyer to prepare a purchase and sale agreement. Before signing the deal, you must pay the property transfer tax (3%) or VAT (24%). Our attorney usually does this.
5. Payment for real estate
In most cases, payment is made during the signing of the purchase and sale agreement. In this case, the buyer first opens an account in a Greek bank, transfers money to the bank, writes out a check immediately before signing the agreement and gives it to the seller in the presence of a notary. Payment may also be made by direct bank transfer from the buyer’s account (from a bank in any country) to the seller's account.
6. Signing the purchase and sale agreement
Once done with all the formalities, you will need to sign the purchase and sales agreement and pay the rest of the sum (payment by installments is also possible). From this moment on, the real estate object and the land it belongs to become the buyer’s property. Following signature, the contract will be recorded in the appropriate register of the Register Office. Registration of the deal usually takes three weeks and is a formal procedure. There are two documents that confirm the ownership: 1) the purchase and sale agreement 2) certificate of registration of the agreement in the Register Office.
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