Finding a Greek property lawyer
Buying a property in Greece as an overseas buyer means immersing yourself in a different purchasing process, legal system and language. Even the alphabet is different! This can feel quite daunting. However, with an English-speaking Greek property lawyer with the right qualifications and experience, it should be a breeze.
A lawyer can help you to avoid common pitfalls in the Greek buying process. In addition, if you’re planning to spend more than 180 days at a time or want to make a permanent move there, then they can sort a visa and make you aware of the tax implications.
For investors in Greece, a property lawyer can explain your legal and fiscal responsibilities as a landlord and owner.
In Greece, foreign buyers cannot purchase property on Greece’s borders or military bases. If you are from a non-EU country, such as the UK or America, then you will have to submit an application to the Ministry of National Defence. It will cover your connections to the country and how you intend to use the property. Your lawyer can advise on this.
Furthermore, if you intend to renovate a property, you will need to apply for planning permission. You may want to run your plans over with your lawyer (and estate agent) before you buy.
How to find a reputable lawyer
It is wise to hire an independent, English-speaking property lawyer with a record of assisting international buyers. They will work entirely in your best interest.
Sometimes, an estate agent will be connected to a property lawyer. This may work too, so long as they are only acting in your interests, not the estate agent’s. It is probably best to find your own.
It is relatively easy to find a reputable lawyer online and many will have testimonials. You could also ask friends or family who have previously bought in Greece for recommendations. Any lawyer you hire should be a member of the local bar association to ensure they are properly qualified.
Property Guides and Your Overseas Home will be able to connect you with a reputable lawyer in Greece.
Role of lawyer in property transactions
Your Greek lawyer will carry out all necessary steps to help you complete your property transaction. Their services include due diligence, drafting contracts, negotiation, signing and closing. They will also interact with all stakeholders involved.
In Greece, the notary oversees the sale of the property. For some overseas buyers, this will be a totally new step to buying, but your lawyer can guide you through it.
It is best to reach out to a Greek property lawyer early on in your buying journey. If, on a viewing trip, you find your dream home, you may be asked to sign a reservation contract to take the property off the market for a set time. At this stage, you will want to have your lawyer on-hand to go over the reservation contract.
Legal due diligence process in Greece
Generally, the lawyer checks the legal title of the property, ensuring there are no outstanding mortgages or liens. They will also verify that the property complies with all zoning and building regulations. Plus, they will offer advice that is tailored to your specific situation.
The role of the notary
A notary is separate from a lawyer but is part of the legal buying process in Greece. They are there on behalf of the Greek government to ensure that the property purchase is legally binding, whereas your lawyer will work for you.
Even so, you (or more likely your lawyer) will have to hire a notary. Their fees range from 1 – 2% of the purchase price. While lawyer fees can vary, dependent on how involved they are in the purchasing price, they also charge around 1%.
Language barriers
Legal documents can be eyesores in your own language, let alone one that you are not fluent in. However, an English-speaking lawyer will be able to provide an English summary of any legal documents that you are required to sign. Don’t hesitate to ask them any questions either, so that you can be absolutely clear on what you are agreeing to.