Step 1: Market Research
We will help you select the best properties and draw up a shortlist of those you wish to view. Α zoom call is our preferred way of interaction as we can walk you through the property either by a photo gallery and floor plans or by a virtual 3D tour, where available.
Step 2: Viewings
We work around your schedule and we are able to organize a significant number of viewings on short notice, usually within 48 hours.
Step 3: Offer and Negotiation
We will be acting as mediators between you and the seller making sure that a deal is reached under clear terms.
Step 4: Letter of Intent
Once a deal is reached we prepare a non-commital document in the form of a Letter of Intent (L.O.I) signed by both parties outlining the terms of the deal. It is customary that the LOI is coupled by a fully refundable deposit of €100,000 to the agency account, as a proof of intention. The L.O.I allows a 30 day period for Due Diligence to be carried out whilst at the same the Seller is prevented from engaging with another buyer.
Step 5: Lawyer & Due Diligence
You will need to establish legal representation in Greece directly or through your own home country lawyer. Your appointed Greek lawyer will coordinate the Due Diligence. A significant number of international law firms have their offices in Athens and provide quality services.
Step 6 : Notarial Deed and Completion
If the outcome of the Due Diligence is successful and you wish to proceed with the sale, your Greek lawyer will appoint a Notary Public. The Notary Public will be responsible for the preparation of the Sales Contract, documentation collection and execution. It usually takes between four to six weeks to execute a Sales Contract once Due Diligence is completed. Physical presence is not required as both parties can instruct their lawyers to sign on their behalf.
Step 7 : Closing Costs
The costs for the purchase of a property in Greece are 3,09% transfer tax, 1,5% lawyers fees, 1,5% notary public and 3% estate agent fees. Professional fees are subject to 24% VAT. A surveyor’s report on a property has a cost of about €5,000
Step 8 : Golden Visa
If you are a non-EU citizen you are eligible for the Greek Golden VISA Program that allows yourself and your family an indefinite stay in Greece, as long as you are the owner of the property you have purchased, along with the benefit of unrestricted travel within the Schengen zone.