Purchase Procedure
How to buy your dream house in Greece with the professionals in safety.
And then just open your door.
PROCEDURE
After finding the ideal property through our office and completing the negotiations, the below procedure is followed:
Lawyer. Assign to a capable lawyer to check the title deeds.
Architect engineer. Assign to an architect-engineer to check:
For land: Suitability of the size & shape and build-ability.
For houses/commercial properties: Legality, static, construction quality.
Agreement. Sign a private agreement-engagement between the two parties to remove the property from the market with a downpayment of an amount equal to the 10% of its value.
Notary. Choose the notary and schedule the date of the final contract signing
FOR EUROPEAN RESIDENTS
Tax Identification number
Issue AFM (Greek Tax Identification Number) from NAXOS Tax Office.
Bank
Open an account in a greek bank.
Translation
Select a translator to accurate translate the final contract.
Accountant
Issue to an accountant the annual tax return.
FOR THIRD COUNTRIES RESIDENTS
According to the new law 4146/18.06.2013 third countries nationals grant a 5-year residence permit as long as they lease or purchase a property with minimum amount of 250.000€.
The mentioned residence permit is also granted to the members of their family as well as to the support staff in case of people with special needs. The residence permit can be renewed for equal period as long as the property remains in their ownership and possession.
Tax Identification number
Issue AFM (Greek Tax Identification Number) from NAXOS Tax Office.
Bank
Open an account in a greek bank.
Translation
Select a translator to accurate translate the final contract.
Accountant
Issue to an accountant the annual tax return.
PROPERTY PURCHASE CONTRACT EXPENSES
Property Transfer Tax
• For newly built houses VAT 24% of the value written on the purchase contract.
• For any other property, the property transfer tax is estimated 3% of the value written on the purchase contract.
Local Government Tax
Estimated an additional 3% of the above Property Transfer Tax.
Lawyer’s Fee
Upon agreement to perform the legal check of the property. For the lawyer’s presence at the purchase contract, the fee is defined at 1,5% plus the legal tax 24%. The lawyer’s presence is not any longer obligatory, but his/hers participation is needed for both parties to be ensured.
Notary’s Fee
Defined at 1,2% to 2% of the value written on the purchase contract plus the legal tax 24%.
Realtor’s Fee
Defined at 2% plus the legal tax 24%.
Land Registry Fee
0,475% of the value written on the purchase contract plus the legal tax 24%.
