Before You Buy Property in Greece

This guide has been written for international buyers, investors and individuals living abroad who are considering purchasing property in Greece. Its purpose is to explain, in clear and practical language, the main legal stages of a property purchase and the matters that should be examined before a buyer makes an offer, pays a deposit or signs any binding document.

The guide follows the usual course of a property transaction, from the buyer’s initial preparation and the selection of the appropriate professionals to legal and technical due diligence, the signing of the notarial deed and the registration of ownership. It also highlights common risks, additional costs and practical issues that may be particularly important for buyers who are not permanently resident in Greece.

It is intended to serve as a practical starting point and a useful checklist rather than an exhaustive statement of Greek property law.

137 Pages

Contents

About This Guide

Professional Assistance

Introduction: Why Legal Preparation Matters

Professional Fees: A Proportionate Investment

CHAPTER 1 • THE PROPERTY SEARCH

Finding the Right Property in Greece

1.1 Define the Search Before Looking at Listings

1.2 Searching Online

1.3 Local Estate Agents and an On-the-Ground Search

1.4 From the Longlist to a Viewing

1.5 Inspecting the Property and Its Surroundings

1.6 When the Buyer Cannot Attend in Person

1.7 Selection Is Not Verification

CHAPTER 2 • THE PROFESSIONAL TEAM

The Professionals Involved and What Each One Does

2.1 Building the Buyer’s Professional Team

2.2 The Buyer’s Lawyer: Legal Adviser and Transaction Coordinator

2.3 Why the Seller’s Lawyer Cannot Protect the Buyer

2.4 The Notary: Independent and Impartial Public Officer

2.5 The Engineer: Technical and Planning Adviser

2.6 The Estate Agent: Market Intermediary

2.7 The Translator and Interpreter: Ensuring Understanding

2.8 How the Professionals Work Together

CHAPTER 3 • THE FIRST COMMITMENT

Before You Make an Offer or Pay a Deposit

3.1 Interest Is Not the Same as Commitment

3.2 Making a Careful Offer

3.3 Reservation Forms and Private Agreements

3.4 Deposit, Reservation Fee or Earnest Money?

3.5 Protective Conditions Before a Deposit

3.6 Pay Safely and Create a Clear Record

3.7 Pressure Is Information

3.8 Paying the Purchase Price: Banking Means Are Mandatory

CHAPTER 4 • THE LEGAL RECORD

Legal Due Diligence: Title, Ownership and Encumbrances

4.1 What the Legal Search Must Establish

4.2 The Seller’s Title and the Chain of Ownership

4.3 Where the Search Is Carried Out

4.4 Does the Cadastral Record Match the Title?

4.5 Mortgages, Prenotations and Bank Debt

4.6 Seizures, Claims and Pending Disputes

4.7 Easements, Usufruct and Other Third-Party Rights

4.8 Inheritance, Co-ownership and Authority to Sell

4.9 The Due Diligence Result

CHAPTER 5 • THE PHYSICAL AND PLANNING REALITY

Planning and Technical Due Diligence

5.1 Legal and Technical Due Diligence Must Work Together

5.2 The Engineer’s Documents and On-Site Inspection

5.3 The Building Permit, Approved Plans and Actual Condition

5.4 Unauthorised Construction and Changes of Use

5.5 The Electronic Building Identity

5.6 Boundaries, Area and the Survey Plan

5.7 Buildability, Planning Rules and the Buyer’s Intended Use

5.8 Special-Risk Locations and Protective Restrictions

5.9 The Technical Result Before the Buyer Proceeds

CHAPTER 6 • TAX, IDENTITY AND AUTHORITY

What an International Buyer Needs Before Starting

6.1 The Buyer’s Preparation File

6.2 The Greek Tax Identification Number (AFM)

6.3 The Activation Key and myAADE Credentials

6.4 Identity Documents, Personal Status and Foreign Documents

6.5 A Greek Bank Account: Useful, but Not Always Mandatory

6.6 Source of Funds and Banking Compliance

6.7 Three Ways to Sign the Power of Attorney

6.8 What the Power of Attorney Should Cover

6.9 Can the Purchase Be Completed Remotely?

CHAPTER 7 • REMOTE, BUT FULLY CONTROLLED

Buying Property in Greece Remotely

7.1 Agree the Remote-Purchase Plan

7.2 The Power of Attorney Must Fit the Transaction

7.3 Where the Power of Attorney Can Be Signed

7.4 Apostille, Legalisation, Translation and Originals

7.5 Banking Checks and the Payment Route

7.6 Signing, Registration and Handover

CHAPTER 8 • THE PRICE BEYOND THE PRICE

Taxes, Fees and the True Cost of Buying

8.1 Build the Budget in Four Layers

8.2 Property Transfer Tax and the VAT Question

8.3 Notarial Charges

8.4 Registration and Cadastral Office Fees

8.5 The Buyer’s Independent Legal Fees

8.6 Engineering and Technical Costs

8.7 Estate-Agent Commission

8.8 Translation, Remote-Completion and Banking Expenses

8.9 Additional Costs Where a Bank Finances the Purchase

8.10 The First Costs After Completion

8.11 A Simple Illustrative Cost Example

8.12 The Buyer’s Final Cost Sheet

CHAPTER 9 • FROM DRAFT DEED TO REGISTERED TITLE

The Notarial Contract, Payment and Registration

9.1 From Due Diligence to the Final Deed

9.2 The Buyer’s Lawyer Reviews the Draft Line by Line

9.3 Translation, Interpretation and Informed Signature

9.4 The Final Pre-Signing Legal Check

9.5 Payment of the Purchase Price

9.6 What Happens on the Signing Day

9.7 Why Signing Is Not the End: Registration

9.8 The E9 Property Record After the Sale

9.9 The Buyer’s Completion File

9.10 The Lawyer Stays Until the File Is Closed

CHAPTER 10 • FROM ACQUISITION TO CONTROLLED OWNERSHIP

What to Do After Completion

10.1 Receive a Complete and Documented Handover

10.2 Secure and Inspect the Property Immediately

10.3 Transfer Electricity, Water and Other Services

10.4 Verify the E9 Record and Plan for ENFIA

10.5 Notify the Building and Check Municipal Records

10.6 Put the Correct Insurance in Force

10.7 Obtain Advice Before Repairs or Renovation

10.8 Letting the Property — and Managing It from Abroad

10.9 The Buyer’s Lawyer as the Owner’s Local Representative

10.10 The Buyer’s First 30-Day Checklist

CHAPTER 11 • PAUSE, VERIFY, THEN DECIDE

Red Flags and the Final Buyer Checklist

11.1 How to Respond to a Red Flag

11.2 Pressure, Secrecy and Premature Commitment

11.3 The Seller, the Authority and the Ownership Must Match

11.4 The Property on Paper Must Match the Property on the Ground

11.5 Encumbrances, Restrictions and Possession

11.6 Payment, Contract and Fraud Warning Signs

11.7 Professional and Communication Warning Signs

11.8 Three Possible Decisions

11.9 Final Checklist Before a Reservation or Deposit

11.10 Final Checklist Before Signing the Notarial Deed

11.11 The Final Legal Readiness Review

11.12 The Buyer’s Final Rule

From Interest to Secure Ownership

Your Practical Next Steps

The Lawyer’s Role from Beginning to End

Glossary of Essential Greek Legal Terms

About the Author & Karkalis Law Firm

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