What is the process of buying a property in Greece?

Once you‘ve decided the property you are interested in, the steps to be followed are:

Choose a lawyer

The lawyer will help you complete the purchase without problems and will represent you as needed. He will also do the research on the property at the Mortgage Registry.

Choose a notary

This option is necessary, since any transfer of property must be done under the presence of a notary. The notary does not represent either the buyer or the seller, is a civil servant and under his presence the contracts are read, understood and signed. The notary then prepares the draft agreement and is responsible for the certification and registration of the transaction in the public records so that the buyer can receive a deed for the property.

Issue Tax Identification Number (TIN)

The buyer must issue a tax number, if he/she does not already have one, in order to continue the process of buying the property.

Payment of transfer tax

The buyer must pay the transfer tax to the Internal Revenue Service (IRS) before the signing of the final contract. In this process a lawyer would be helpful.

Signing of contract and transfer at the Mortgage Registry

The contract is signed by both parties under the presence of a notary, who will then transcribe the contract at the Mortgage Registry, at the region the property belongs, which will keep a copy of the contract.

Note: only the original contract in Greek is signed, which remains in the archives of the notary. If the buyer wishes can hire an interpreter who translates word for word the contract. In the end, the interpreter swears he got right translation and sign below the buyer. Then the buyer has the right to receive a copy of the contract and ask for a translation from the Translation Services of the Ministry of Foreign Affairs or from a lawyer who knows the language, at buyer’s expense.