Quest Greek Islands

Greek Laws on Buying Property in Greece

Thinking of buying a property in Greece? Do you fully understand the process of buying and the Greek laws on buying property in Greece?

When people decide to purchase property in Greece, it is essential to run thorough checks on this property and certainly prior of giving any down payment to the seller.

The future buyer must run the following checks on the property:

A. Investment's control:

1. On this stage is essential to decide on the type of property you wish to purchase, i.e. a plot, a house in the city or in the suburbs, a shop, etc.

2. Once you have made the decision, you have to find out the financial source/sources which will allow you to purchase the specific property, especially if you do not have funds of your own, i.e. take a loan, discuss the loan terms with the bank, etc.

3. Choose the area you wish your property to be i.e. If you have children, close to a school, bus station, if you have grandparents living with you, close to a medical centre, etc.

4. Before you make up your mind, try to see as many properties as you can, so that you would have the option to choose the one, which really applies to your needs.

5. Evaluate the properties found, so that you will choose the best one for you, with fewer disadvantages.

B. Deeds Check of the property

A lawyer is the only person appointed by the law to:

1. check the deeds

2. form and prepare the various legal and financial terms of the contract

3. find out if there are mortgages on the property you want to buy, or other law suits against it.

The mortgages and the law suits may be against the seller, or, previous owners of the specific property. When a property has legal problems, these problems can never disappear, unless we take certain legal actions. Failing to take these actions, mortgages and law suits will follow the property for ever. The new buyer would be obliged to erase those suits and mortgages, with his/her own expenses.

C. Building's control

The purchasing property must also be checked from an engineer.

If you purchase a house, then the engineer will check:

1. the quality of the building's cement

2. the building's plans

3. if you were allowed to built this specific house/building, from the town planning office

4. if the amount of square meters of the house are the exact ones, which were announced from the town planning office

If you purchase a plot, then the engineer will check:

1. if the plot's owner owes money to the town planning office

2. if the plot's owner owes money to the social security office

3. if the plot is free from any archaeological attachments. The seller must provide the buyer with the specific certificate

4. if the plot is free from any forestry attachments. The seller must provide the buyer with the specific certificate

D. Financial check

1. We have to search if the constructor or the private person who built the building /flat /house, owes money to the social security regarding the employees hired, to built the property.

Always consult the right persons when you decide to purchase property. It will save you a lot of troubles, money, and most important, agony.