After selecting the property concerned, the steps to be followed are:
Selection of an Attorney at law
The attorney at law is the one who represents and will help the client do the research in order for the purchase to be completed without problems.
Selection of a Notary public
The transfer of the property takes place in the presence of a notary public and under his/her presence the contracts are read and signed and then the draft agreement is prepared. After the procedures are completed the buyer must obtain a notarial deed for the property.
Issuance of a Tax Registration Number [TRN] (in case it does not exist)
Tax Registration number is required for the property purchase process and in case the buyer does not have one, he/she must issue it.
Paying the transfer tax
In order for the contract to be finalized the buyer must first pay the transfer tax to the tax authority.
Contract signing and registration into the Land Register
The signing is made in the presence of the notary public and then the registration of the property into the Land Register, of the place where the property is located, takes place and the notary public keeps a copy of it. The signing of the contract is made into a single original (in Greek) which is kept by the notary public in its records. In case the buyer wants the contract in his own language, an interpreter intervenes and accurately translates the agreement and signs it under the buyer. The buyer then has the right to receive a copy of the contract and to have the identification of the contents checked by the Minister of Foreign Affairs or by an attorney at law at his own expense.
- Attorney’s costs/li>
- Notary’s costs
- Property Transfer Tax
- Costs for the registration into the Land Register
Registration of the ownership title with the Cadastre
Registration is made after all the above have been completed and it is considered to be a proof of ownership
Registration of the Property
When the purchase and the process have been completed, the property must be registered with the tax authority system.