Real Estate Greece Tips
Greece as the land of gods and heroes is always a cultural experience during a trip. Its location on the eastern Mediterranean makes Greece perfect for a foreign property. In addition to long sandy beaches and mighty mountain massifs, one encounters monumental buildings of antiquity in the capital Athens; past and present are very close together here. If you are looking for a property in a quiet location, you should look at the sea or the islands belonging to Greece. The emerald island of Corfu or the dream island of Samos are ideally suited for carefree holidays. Greece enchants all guests and holidaymakers, just one reason to buy your own property in Greece. In the meantime, tens of thousands of Germans have settled in the country, and the real estate in the country is very diverse. Traditional stone houses on the islands, prestigious villas, exclusive holiday flats on the beach or a city flat in the middle of the capital, the choice when buying property in Greece is huge. Most properties are very comfortably equipped, properties with a pool and a fitted kitchen can also be chosen, and the different types of construction leave nothing to be desired. If you intend to buy a property in Greece, it is always worthwhile to consult a local real estate expert. Advice can also protect you from making mistakes when buying property in Greece.
What to look out for when buying property in Greece
The purchase contract
The purchase of a property is handled by concluding a notarised purchase contract. The property as the object of purchase must be described precisely, the purchase price and its due date must be named exactly. The rights of withdrawal and contractual penalties in the event of default or withdrawal from the purchase contract must also be specified. The execution of the contract up to the transfer of ownership in the land register are described in detail in the purchase contract. As a rule, a lawyer is always required to conclude a notarial purchase contract.
The Land Register in Greece
The change of ownership in Greece is always connected with the registration at the competent land registry office. The payment of the purchase price of the property is always made directly with a notarial record and is thus also recorded in the notarial protocol. The payment of the land transfer tax is always a prerequisite for the transfer of ownership, which is usually carried out by the notary.
The property register in Greece
The Greek land registry is run like a land registry in Germany and is also responsible for certain municipalities in Greece. However, the Greek land registers are still partly kept according to persons. The land register search is therefore always carried out under the name of the potential owner, and here it is also checked whether encumbrances, legal disputes, easements or similar are registered. In order to facilitate the searches, it was decided to modernise the Greek land register practice.
New regulations when buying a property in Greece
When buying a property in Greece, the buyer is only obliged to have a lawyer present when the purchase contract is recorded by a notary if the purchase price is more than 8,000 euros. As of 01 January 2014, the Greek legal system will not require a lawyer. However, hiring a lawyer is always advisable, especially for the buyer. The lawyer carries out the difficult land register research and prepares the contract. If there is a compulsory lawyer, compulsory fees must be paid to the local bar association for the lawyer's involvement in the notarial purchase contract.