Buying property in Greece

You want to buy property in Greece:

If one wishes to purchase land/building/ flat in Greece, it is required a notarised contract of sale and entry in the Land  Register Office/ Ktimatologio. After this accession of title to the register office, the purchase  is completed.

1)The contract of sale: Any real estate  transactions is  concluded by a notarised, precisely worded contract of sale. The object of purchase, the sale price and when it is due stated, rescission rights and contractual penalties in the event of late payment and/or rescission of the contract of sale are descreibed accurately. 

 

2) Land Register in Greece: After the completion of the contract, payment of the sale price  takes place at the same time at the notary's office. Payment of land transfer tax is a prerequisite for transfer of title, and usually happens at the same day of the contract.

 

3) Register of titles in Greece: When searching the titles of a property ath the Land Register, one comes accross the potential owner's name, whether and when he/she became the owner and the exact legal deed, whether encumbrances, easements, legal disputes, have been registered, etc.

 

4) Representation by lawyers for property sale contracts:

In Greece representation by lawyers is not obligatory when notarising most contracts of sale. However, in practice the presence of a lawyer is mandatory, because otherwise the legal status of the property is not verified and the transaction is in danger. In many cases, the lawyer carries out important tasks as the Land Register searches, draws up the contract and also preliminarily signs the contract of sale, all in favor of its client. 

    
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