REAL ESTATE INVESTMENTS
can acquire a property in Greece. The latter can be a building plot or
an existing building. In order to acquire a property, a lot of
formalities are required.
Firstly it is necessary to obtain a fiscal registration number (AFM). This number AFM is unique and particular to each person. In that, you must go to the local fiscal administration with a photocopy of your passport or identity card. The passport number or identity card number must appear on the photocopy.
If you can't go, you can request lawyer's help by means of a proxy.
When the property is identified and after the fiscal registration number delivered, it becomes possible to acquire a property. From then on the presence of a lawyer is necessary in order to make sure the compliance of the property and to thwart the potential difficulties with the transaction.
A sale commitment can be signed in the presence of a solicitor between the buyer and the seller. An advance will be transfer and a limited period will be established for the signature of the legal contract. In no instance it represents the final sale. Indeed the change-over will be effective at the signature during the final sale. The latter must be retained by the competent mortgage register. It is customary in Greece to establish sale commitments under private seal (without solicitor). This practical must be lapsed because it does not protect the buyer in case of problems.
Then the buying of the property will be effective through a bill of sale. It is about the conclusion of the final sale between the buyer and the seller. Just like the fiscal registration member, if you can't be present to perform formalities, a proxy in front of a solicitor will capacitate a lawyer to represent you.
In order to acquire a property in Greece, three ways are possible. It is possible to go to the Greek Consulate, either in front of a solicitor or in front of a Greek solicitor when you are on the spot.
Costs for buying a property in Greece are approximately about 7,5% of the buying cost (all taxes and fee)
It means that for the purchase of a property that costs 100.000 EUR, costs will be:
Lawyer fee (1,5%) : 1,500 EUR
Solicitor fee (2%) : 2,000 EUR
Registration of the sales at the Land Registry (0.475%) : 475 EUR
Fisc-mutation righ (about 3.5%) : 3,500 EUR
Estate Agent fee (2%) : 2,000 EUR
CAUTION: You must not transfer advance payment before having make some controls and without seeing the deed of properties.
Our office can take action into all the Cyclades and Athens.
For more information please do contact us.
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