BUYING A PROPERTY OVERSEAS                                                                                                                  1

 

Buying property in Greece could change your life! If you’re looking for a place in the sun to move to permanently or for a holiday home, then a relocation to this beautiful Mediterranean country could be just what you need. And, with a bit of planning and local know-how, what can seem a daunting project at first can quickly be turned into reality. We’ve put together this complete guide to buying a house in Greece that will take you through the process.

 

VIEWING A PROPERTY

When arranging a viewing of a property, we require your full names and contact details, we must have confirmation via email that you wish to view a property and we will send you a confirmation email for the viewing of the specific property. We also ask that you kindly read our buyers terms and conditions which are detailed here in the Buyers Mandate

BUYERS MANDATE

I ……………………………………………………. Do confirm that in your capacity as a Real Estate Agent, to recommend real estate properties to me with the aim of purchasing or assigning them for construction using the assign-build system or renting or leasing or acquiring the right of ownership, use or exploitation thereof in any other manner.

I……………………………………………………. Can confirm that you (SAMOS PROPERTIES) did show me the following properties which I hereby state that I did view for the first time.

In the event that the contract is finally drawn up for any of the viewed properties or any other property at the same above addresses of the same owner, either in my name or that of a member of my family, or of other relatives, associates, partners, or a company from which one of us has an interest, for whom I hereby declare that I am acting at their direction and on their authority, or in any other case in which a contract is drawn up as a result of your recommendation, that both I myself individually, and those in whose name the contract will ultimately be drawn up, shall pay you(Samos Properties), jointly and severally and in full, each of us and for each of the main contracts separately, the specifically agreed INTERMEDIATE FEE of 3.00% of the total actual market value of the main contract plus VAT. I consider this fee to be fair, reasonable and not excessive and we are obliged to pay you half of it on the day of the signing of any notarial preliminary agreement, and the whole of it without any further annoyance to you (Samos Properties), which we expressly waive and even if the contract is drawn up under a suspensive condition, on the day of the signing of the relevant definitive contract or the contractor's agreement or the lease or any other agreement. For properties with an agreed selling price of less than EUR 50 000, the minimum brokerage fee shall be EUR 1 500 plus VAT.

I agree that this instruction is untimely and I consent to a brokerage contract between You (Samos Properties) and the prospective sellers. I am further advised that the property has no actual defects or has the following:.............................................................

I undertake to give You (Samos Properties) at least one full business day's notice prior to the preparation of the sale to appear before the notary and to register Your brokerage and I undertake to indemnify You (Samos Properties) for any failure to do so.

BUYING AS A EUROPEAN CITIZEN

If you are an EU citizen the process for buying a property in Greece is fairly straight forward, here are a few simple things you will need to acquire the property

* Greek AFM (Greek Tax Number)

* A full colour copy of your European Passport

* Mother and Fathers Full Names

* Job Profession

* Home Address

* Home Tax Details

* Contact Telephone Numbers/Email

To aqcquire your Greek Tax Number, our office Samos Properties assists you every step of the way, we have our in house accountants that liase on your behalf at the Greek Tax Office, the same information is all that is required for us to proceed with this step, it will then take 2-3 working days to get the final tax number cost for this is 150 euros + vat 17% 

If you are not planning on being in Samos to be able to complete the sales process, you will need your own Power Of Attorney, so that they can take control of the sale and sign for the property and your Greek Tax Numbers on your behalf and be your legal representative in the water and electricity department.

BUYING AS A NON EUROPEAN CITIZEN

For non EU citizens the process is alitte more detailed, a non EU Buying application will need to be processed via a Notary here on the Island, the costs involved for this are 1,500 euros and the procedure can take approximately 4-6 months, this process can only start once a property has been found and a deal has been made with the sellers of the property, the following documents are required:

* Full colour copy of all buyers passports

* A short CV

* A police DBS check

* Property Topographical Surveys (which our office provide to the Notary)

* An upfront notarized pre-agreement payment to the sellers of 20% of the agreed selling price must be paid.

And you can also apply for a Golden Visa, please see our Gateway To Europe Information at the bottom of the homepage of our website

GREEK BANK ACCOUNT

A Greek bank account is not required for the purchasing of a property in Greece, the purchase costs for a property are paid from any bank account (overseas or Greek) to the Notary office and the property selling price is transferred from your own overseas or Greek bank account directly to the sellers.

You will be required to set up a Greek bank account if you wish to setup online payments for your yearly property taxes and your electricity bills, but again not required for the purchasing of the property itself.

PURCHASE COSTS

The additional costs you should budget for are the purchase costs which are approximately 10% of the agreed selling price when purchasing your own property in Samos, this will include the following:

* The Notary Fees

* Property Purchase Taxes

* Translations of all documents into English

* Realtor Fees

* Deeds Office Fees

* Legal Fees

* Cadastral Registration Fees

 

For further information on buying a property in Samos Greece, you can email us on: office@samosproperties.com, our team are more than happy to assist you in buying your Dream Greek Property.