Step 1: Requirements
Determining your “wish list” is essential. It is really important to know what you are looking for; the area you would like to live in, the number of bedrooms you need and what you are prepared to spend. Having this clear from the start is a very important first step.
Step 2: Finances
Having finance in place before you start your search puts you in the best possible position to make an offer as soon as you find your perfect property and ensures that everything runs smoothly through to completion.
Step 3: Selection & Viewings
We will help you select the best properties and draw up a shortlist of those you wish to view. Don’t be afraid to ask us as many questions as you would like during the viewing – we understand that this is an important decision.
Step 4: Offer & Agreement
Once you have found the property of your dreams, it is time to make an offer. Once a price has been agreed you will be asked to sign an agreement outlining the terms of sale, including completion dates. A deposit is payable at this point to secure the property.
Step 5: Lawyer & Surveyor
You must establish legal representation. Your lawyer will check the legal status of the property. It is advisable to give your Lawyer power of attorney to arrange all the paperwork and sign the final contract. The lawyer will also be able to recommend you a surveyor.
Step 6 : Bank account & Greek Tax No
You must open a Bank account in Greece and apply for a Greek tax number (your lawyer can do this on your behalf if given power of attorney). All monies sent into Greece must be sent via your Greek bank account for tax purposes later on.
Step 7: Completion (Final Contract)
The process usually takes between 4 & 6 weeks once the deposit has been paid. Closing costs should be paid approximately 2 weeks prior to completion. Your Lawyer can sign the final contract if you are unable to return to Rhodes to take possession of the property.
Step 8: After Sales
You must file a tax year declaration in your first year of ownership. An accountant will take care of this for you. It is also advisable to get in contact with a property management company that will look after your house while you are away.