Having found the desired property, the following procedures have to be carried out in order to sign the final contracts:
Initially a lawyer, acting on your behalf, ought to conduct a search at the competent Land Registry and Land Titles Office for the ownership titles of the property so as to check that the subject property for sale is “clean” and then to ensure your interests upon composing the sale and purchase agreement.
Our technical office will check the following necessary items: building permit and building terms applied to the plot, and in the case of an existing building, its legality, building statics and construction quality.
A private agreement is signed between the buyer and vendor and a deposit is paid.
The agreement clearly states: the total cost of the property value – the deposit amount – the amount due payoff – potential constructional interventions in case of an existing building – the deadline for final signing of contracts – and the conditional clauses applied to the buyer and vendor in case of one’s withdrawal.
In case the client cannot be present for the signing of the private agreement, an authorized representative may act on your behalf.
Before signing the final contract, it is highly advised to inform your accountant of your intentions. He/She will inform you for the current tax legislations, the current tax obligations as well s for the existing submission deadlines for the tax forms (E1, E9)
The notary, collaborating with the lawyer, the civil engineer and the accountant, will compose the final sale and purchase contract which will be signed on the date appointed by the private agreement. Additionally, the notary will compose the Tax Conveyance Form and he/she will inform you regarding the Tax amount and the rest conveyance expenses that you are asked to cover (VAT, re-registration to the Land Registry/Land Titles Office, etc.)
If you do not reside in Greece, you will also need to take the following steps:
- Acquisition of a Greek tax number (A.F.M)
- Submission of annual tax form (As all Greek citizens, even though you reside in another country, once you acquire property in Greece, you are obliged to submit annually a tax form and pay any taxes accordingly.
The Real Estate Agency, in collaboration with our Technical Office, will make sure to guide and support you, throughout the procedure with professionalism and confidentiality in the best possible way, ensuring your best interests.