What is the selling process of a property?

• 1. Choice of a Real Estate Agency
• 2. Accurate evaluation from a certified appraiser in our office
• 3. Creation of a detailed presentation for your property
• 4. Promotion of your property in Greece & abroad
• 5. Visit with potential buyers
• 6. Reception of an offer
• 7. Acceptance of the offer
• 8. Preliminary contract
• 9. Final contract & completion of the process

Necessary documents for a property sale?

• 1. Photocopies of Identity cards/passports, T.I.N.s and tax return documents of the parties involved.
• 2. Property Ownership Documents (seller)
• 3. Tax return documents of the seller
• 4. Certificate from the Municipality stating that the tax of the real estate property (ΤΑΠ) has been paid.
• 5. Certified copy of the Construction permit, if the property has been constructed after 14.03.1983, otherwise official relevant statements of the parties involved.
• 6. Official statements of the parties involved., signed before a notary, stating that the transferred property is not found on a seashore, environmental habitat, beach, public or archeological site, according to Law 2242/1994.
• 7. a. In the case that the property is found in an area that is currently being added to the national cadaster, the relevant document stating the process of subscription or the actual subscription to the cadaster.
• 7. b. In the case that the property is found in an area that has already been added to the national cadaster, the relevant document stating the subscription to the cadaster and the topographic plan.
• 8. a. In the case that the property has been transferred to the owner by his parents, has been inherited or donated to the owner, after the 31.12.1994, a certificate stating that all relevant taxes have been paid to the state.
• 8. b. 1 In the case that the property has been inherited until the 31.12.1994: the official certificate of death, proving that the provider of the property actually passed before the 31.12.1994.
• 8. b. 2 In the case that the property has been transferred by the parents to their offspring or has been donated before the 31.12.1994: an official copy of the relevant contract.
• 9. a For a horizontal ownership with no unauthorized constructions or uses:
• 9.a.1 A certificate issued by a civil engineer stating the above mentioned fact, according to existing laws, with a mention of the unique property number issued by the technical chamber of Greece, valid for two (2) months and when necessary a topographic plan and
• 9.a.2 An official statement of the person transferring the property with the above mentioned content, declared before a notary.
• 9.b For a horizontal ownership with existing unauthorized constructions or uses:
• 9.b.1 A certificate issued by a civil engineer with a mention of the unique property number issued by the technical chamber of Greece, valid for two (2) months, stating that the unauthorized constructions or uses of the transferred property (horizontal ownership), not including the shared surfaces of the property fall under the exceptions of the law 4495/2017. When necessary the certificate is accompanied by a topographic plan
• 9. b.2 An official statement of the person transferring the property with the above mentioned content, signed before a notary.
• 10. A certificate issued by the Ministry of Finance for the Unified Real Estate Property Tax (ENFIA) proving that the person transferring the property (seller, providing parent, person donating etc.) has included the property in question in his Real Estate Property declaration. If the person transferring the real estate property has not owned the property for a minimum of five (5) years then they must also provide: an official statement declaring when & how they acquired the property and the fact that they were not obliged to declare it in their tax declaration (E9) for these years. This statement must also be verified by the tax service to which the owner belongs.
• 11. An Energy Efficiency Certificate is also required.
• 12. In the case that the owner has a commercial business, is a member of a company, or is obliged to pay insurance for the work done on a newly constructed building, the latest insurance clearance has to be provided.

Of course, the bureaucracy does not end here. There are other documents and certificates that an owner might need to provide to the notary, depending on the nature and location of the property (e.g. certificate from the forestry service, TOEB certificate, certificate from the municipality proving that the ownership has been declared or that there is no financial debt etc.)

What are the advantages of an exclusive cooperation for a property sale?

1. Full promotion package in Greece & abroad

2. Gold & VIP adverts

3. Professional photoshoot & video

4. Pro-active real estate

5. Open cooperation invitation to all our colleagues

The exclusive mandate is valid for a specific amount of time that is agreed between the owner and the real estate advisor. During the effect of the written, exclusive real estate mandate, the seller can sell his own property, but he will be obliged to pay the real estate agency its agreed upon fee.

What is the process of finding and purchasing a real estate property?

• 1. Choice of the property with the help of your real estate advisor.
• 2. Offer of purchase to the owner of the property & acceptance of said offer.
• 3. Choice of a lawyer & notary.
• 4. Creation of a Tax Identification Number (T.I.N.) and creation of a bank account (for people leaving abroad)
• 5. Deposit of usually 5 -10% of the property’s selling price.
• 6. Signing of the final contract.

Usually the time of completion for this process is about 2 months, given that no bureaucratic delays will occur.

What are the expenses of acquiring a real estate property in Greece?

• 1. Property Transfer Tax: The tax is 3% on the taxed value of the property. An additional 3% is imposed on the main tax, representing municipal and communal fees. Those who can use their ‘’right of primary residence’’ do not have to pay this tax.
• 2. Lawyer: Since 01/01/2014 the buyer or seller are not obliged to have a lawyer. However, we believe that it is absolutely necessary to have one. The lawyer’s fee is the result of his/her agreement with the client, but usually the fee is about 1% + V.A.T. on the selling price of the property.
• 3. Real Estate Agency: About 2 - 3% + V.A.T., depending on the property’s location.
• 4. Notary: The notary’s fee starts from 0,65% + V.A.T. up to 1,4% + V.A.T.
• 5. Property Registry Office :The fee for the transcription of a property’s contract at the Registry Office for a sale/purchase is 0,475% on the property price. An additional 0,125% on the property’s price is paid for the Lawyers’ Fund.

What are the annual costs for a property in Greece?

• 1. Unified Real Estate Property Tax (ENFIA):
• 2. Municipal Taxes & Fees: These depend on the value & surface of the property and are included in the electricity bills.

What is the objective value of a property?
The objective value of a property is decided by the Ministry of Finance and depends on the location of the property. It represents the financial value of a real estate property for the Greek Tax Authorities.

How will I find a lawyer, notary, civil engineer, insurance advisor etc?
Our company will suggest to you experienced lawyers, civil engineers, and any other professional you might need. Of course, the choice is yours and you can always cooperate with your own team of professionals.

Can I get a loan?
Yes, if you are a citizen of the European Union and your income is in EUROS (€). Our company cooperates with various Greek Banks. In the case that you need a loan in order to finance your investment, our financial advisor will be at your disposal.

What is the current situation for the residency permit/Golden Visa for third country citizens (i.e.: outside of the E.U.)?
An entrance & residency permit can be acquired by any third country citizen who possesses or will possess (and has the relevant proof) a real estate property in Greece with a minimum price of 250.000€, as well as any third country citizen that has a lease for a hotel or tourist residence complex, for at least 10 years and with a minimum rent of 250.000€.

Necessary documents for a property purchase

• 1. Identity card or passport.
• 2. Proof of payment for the property transfer tax at the relevant tax service. For the calculation and payment of this tax, the notary must first calculate the objective value of the property with a relevant form towards the tax service.

In the case that the buyer does not have to pay this tax, thanks to his right of primary residence, they must provide the tax service with the following documents:

• • An official statement proving that he has not used his right of primary residence in the past and that he does not fully own any other house or apartment.
• • A certificate proving his civil status.

The real estate fee is a result of negotiation and is agreed upon between the Realtor and the buyer. The fee that you will pay to the Realtor-Mediator for the visit to a specific property that you eventually bought or rented is not defined by any legislation, it is freely negotiated and no minimum legal fees apply. The general rules of real estate transactions are defined by article 2 of the law 2251/1994 (Α΄191).

Usually, the real estate fee during a purchase or sale is 2% from the buyer and 25 from the seller,calculated on the market value of the property. But this number can go higher or lower. There are many cases where the fee percentage, can go even as high as 7%. For rentals, the real estate fee is usually half a rent from the tenant and 1 whole rent from the landlord (only in the case of a small residence). The V.A.T. OF 24% also applies on all these fees. When you decide to buy or rent a property through a realtor, you have to sign an agreement for the property visits, wherein the real estate fee and full information of the office & properties will be defined.

• 1. The latest proof of tax clearance.
• 2. A Certificate for the property tax.
• 3. A Certificate from the relevant tax service proving that no inheritance or donation tax is due.
• 4. A Declaration of the property transfer tax or V.A.T. at the relevant tax service.
• 5. Certificates/Declarations proving that there is no debt towards any local authority.
• 6. A Certificate from the municipality proving that the property has been declared or a certificate proving that there is no debt.
• 7. A Certificate proving that all social security contributions have been paid.
• 8. A Certificate from a civil engineer proving that the property is legal according to the urban planning regulations.
• 9. A Certificate from a surveyor for the energy efficiency of the property.
• 10. A Topographic plan of the property’s plot from a topographer.
• 11. An official statement from the owner regarding the lawfulness of the property according to the urban planning regulations.
• 12. A copy of the building permit if the property was constructed after 14-3-1983.
• 13. A document proving that the regulation process for the property has been completed.
• 14. Relevant documents from the cadaster, if the property has been added to the cadaster.
• 15. A certificate proving that the property has been included in the temporary cadaster files, if the property is currently being added to the cadaster.
• 16. A certificate from the relevant forestry service stating that the property is not part of a forest land.
• 17. A certificate from the forestry service stating that the private forest to be transferred will not be burned.
• 18. A declaration to the forestry service in the case that a private forest or forest land larger than 50.000 m2 is being transferred.
• 19. A permission from the minister of Agricultural Development in the case that a forest property is being separated into segments.
• 20. A certificate from the forest administration or the cadaster, in the case that the land to be transferred is located in a region when forest maps exist.