Purchase

As a prospective buyer it is important to appoint a local lawyer to act for you on all legal matters relating to a property purchase. If a buyer resides outside of Greece and is a non-Greek citizen, a Power of Attorney document will be drawn up in front of a Notary assigning the specified lawyer to be the buyers legal representative. A valid passport is required for the Power of Attorney.

The appointed lawyer as part of the ongoing purchase process will then:
Register the buyer for a Greek tax number. Open a bank account for the buyer with a Greek bank. Check with the land registry to confirm clear title and no third party debts on the property. Check validity of all property related plans and documents and ensure that a certified document produced by the architect/ civil engineer for the seller is in place confirming all legal property requirements have been met.

Sign the final purchase contract on behalf of the buyer.

The new purchase contract is prepared by a notary who will also confirm all documentation is present and correct. In order to obtain a tax number and apply for a bank account the lawyer will need from the buyer the following documents:
– Valid passport
– Utility bill or similar confirming an address of permanent residence
– Document confirming employment status
– Recent tax return
A deposit payment of 10% is made through the lawyer to reserve the property, generally after satisfactory title searches.

The buyer purchase costs payable with the final signing of the purchase contract are approx. an additional 10-15% of the purchase price of the property; these are:

– Real estate agent fee
– Lawyer fee
– Notary fee
– Purchase tax
– Land registry

It is recommended that all the above are confirmed with your agent and lawyer at the time of a proposed purchase.