Buying A Property In Greece Made Easy!

Buying a property in Greece can be a wonderful experience, but it is also one of the most demanding and time consuming. However, a little research will help you to make the buying process easy. It’s much better than leaving the purchase of your Greek property to chance.

So you have decided that you want to start looking for a Greek property to suit you and your family. The internet is a useful place to begin your property research.

1. Note The Properties that Are Available: Make notes regarding the types of properties that are available along with their locations. Also note down any that are just below your price range (just below, because you will need some money to pay for taxes, legal fees, and hidden costs of buying property). Then discuss the properties that you have found with your family and friends.

2. Talk About Your Plans: It makes good sense to talk to other people who have already bought Greek properties and are living or working in the area you would like to live in. These people have already been through the property purchasing process and they are one of the most valuable sources of information you are likely to find.

3. Find A Greek Agent: Find out about the area that you would like to live in to see if it suits your requirements. Study maps and guide book descriptions of each preferred location. When you have established what your requirements are contact the real estate agents through the websites you have been looking at. Find out if the online property list is the full list of the properties on offer, quite often agents only advertise a small selection of the properties that they have available. Let the agents know your full requirement (be as detailed as possible) and leave your up to date contact details with them. Ask the agents to let you know when any suitable properties come up. This will make it easier for the agents to narrow down your property search so you do not spend months looking at unsuitable properties.

4. Viewing Greek Properties: If you intend booking a holiday in order to view Greek properties, it is important to let the real estate agent know you are going to be arriving at least a couple of weeks in advance. Tell the agent where you will be staying. Take a mobile phone with you that works overseas, so they can contact you if they need to. The agents will be able to arrange viewing of properties for you while you are in Greece, and hopefully, will be able to find several properties in each area you are interested in.

Be Realistic And Open Minded.

Take a realistic look at the types of properties that are available in Greece. Be open minded and consider all of the property option carefully. For instance, it may be worth considering buying a plot of land, rather than a house that already exists. Design and build properties are easy to find and are a very popular choice. Check if the plot already has planning permission. If it doesn’t, planning permits are easily obtained if the land has road frontage, with all services (water, electric etc) nearby. If the land is within the town planning area it should also be buildable. However, you must always check, and get it in writing. If you plan to build any property in Greece yourself it is important to remember that you have to build to Greek and European building and safety regulations. These are very different from UK regulations. All buildings must be built to withstand earthquakes, for example!

What to do next?

When you have found the property you would like to buy, it is advisable to get a survey done. This is a step that is often missed out in Greece. Some areas are prone to flooding, earth tremor damage, or sink holes (A large hole that suddenly appears in the earth when the limestone beneath is eroded away by water). Save yourself a lot of trouble in the future by paying for a good survey. When you have found a good lawyer (who speaks your language, as well as Greek) and a good accountant (to sort out a tax number for you, and some financial details), you are ready to make an offer on a property.

It is normal to pay a deposit of 10 - 20 % of the agreed purchase price. This seals the contact between the seller and buyer. If the seller pulls out (which is unlikely) he must return the money plus the same amount again. If the buyer pulls out the deposit is forfeit. However, if previously unknown problems are revealed the deposit will automatically be return. Property purchase is generally completed in a short period. It can take as little as 48 hour to 2 weeks. However, if the seller has not collected all the necessary documents for the transaction, it can take up to 3 months. You must not pay the full amount until all the documents are in place and your lawyer has made it all legal!!!

Now you can be happy in the knowledge that buying a property in Greece can be made easy. Good luck with the purchase of your Greek property and your new life in Greece. You will soon be sipping wine with the locals. Enjoy your little piece of paradise; after all you've earned it.

Claire May is a knowledgeable author of articles regarding property in Greece and Messinia. Her articles aim to Make buying and selling property in Greece easy and helps buyers with their research and assist them through the unfamiliar Greek property purchasing procedures. Claire has also designed a website to provide readers with information about buying property in Greece.