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Buying house in Greece

asked by Nico Nico posted 2 years ago at 10:06
Hey,
Just joined here and hello to all expats...
The main purpose of coming here is to search for a property to buy in Greece for me and my wife. Currently we are living with my wife's parents in Greece. Our money is sitting in a Uk bank account in sterling, but will need converting to euro I guess.
Does anyone know anything about buying safely in greece and the do's and dont's...
Thanks
1-4 of 4 Answers
Simone Lalle answered 2 years ago at 12:11
Hi Nico, some quick answers here for you.

Appoint a Lawyer
The Buyer must appoint an attorney to assist him with and represent him in the process.

Appoint a Public Notary
A public notary must be appointed since any property purchase agreement, in order to be valid, must be done in the presence of a public notary. The public notary does not represent the interests of the Buyer. He/She is a public official in the presence of whom the contract is read, understood by both parities and signed. The notary drafts the contract and is responsible for the verification and registration of the transaction in the public records, so that the buyer acquires the official title of the property.

Get a copy of the title deed and perform a title search at the Registry of Mortgages
This can be done with the help of the lawyer.

Issue a tax registry number (AFM)
A tax registry number must be issued for the buyer, to be able to proceed with any transaction. The tax registry number is applied for and issued by the Inland Revenue Service.

Pay the transfer tax
The transfer tax must be paid to the local Inland Revenue Service by the buyer prior to signing the contract. This can be done with the aid of the attorney.

Signing the contract
In order to have a valid contract, it must be signed in the presence of a public notary. When the contract is signed, the notary registers the transaction at the local registry of mortgages.

Effect transfer at the Registry of Mortgages
The buyer's attorney makes sure that the title is transferred to the buyer's name by obtaining the relevant certificate from the Registry of Mortgages.

Notify the Land Registry for the transfer (if applicable)
A copy of the title, and the certificate from the Registry of Mortgages is needed to register the property under the buyer's name at the Land registry. Not all regions of the country have a Land registry, as Greece is currently undergoing the process of establishing a Land Registry. In areas that do not yet have a Land Registry, ownership of property is based on and secured by the local Registry of Mortgages.

Hope this helps and good luck...Simone

Rose Williams answered 2 years ago at 12:19
I would wait a bit to buy. If greece has further major problems the property prices could drop/crash nicely for you....happy cheap purchase!!!
Jezza B answered 2 years ago at 18:51
Greece is going bust and hopefully no one will bail them out any longer. Soon property might be dirt cheap and maybe you can by Crete for a Euro!
Ian Cragg answered 2 years ago at 9:53
Hi Nico,

How are things progressing with your purchase?

As you have probably seen the Euro has dropped from the late 1.20s we saw in the Summer.

With regards to your transfer and conversion from Sterling to Euro we would be more than happy to assist and give you an insight into our foreign currency exchange service.

Kind Regards

Ian Cragg
ian.cragg@torfx.com
+44 1736 335292
 
 

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