Greece property buying process
Buying a property in Greece is exciting and life-changing, but you might think it would be difficult to accomplish.
Fortunately, it’s quite straightforward, so long as you understand the process and work with the right professional services.
From dreaming about it to owning it, we guide you through the process of buying a property in Greece.
Step One: dreaming, brainstorming, researching
Whether it is a long-held dream, or a new idea inspired by a wonderful holiday, your journey to owning a home in Greece should begin with research.
Property Guides has a host of content to assist you on the buying journey, both inspirational and informational. Plus, Your Overseas Home hosts helpful online events and webinars to give you further access to expert help. You can hear from and put your questions to legal experts, estate agents and currency specialists.
Firstly, ascertain some basics. Is your property just for your use, or do you want to make an income from it? Do you wish to make it a permanent residence for yourself at some point? What can you afford, and will you need to borrow additional funds?
These basic questions will set the foundation for how you approach the process, the location, and types of properties that you look at, and the financial implications of your purchase.
Your Overseas Home
Your Overseas Home features thousands of beautiful properties waiting for new owners across Greece. You can filter by area, adjust by budget, property type (villa, apartment), and property features (nearby golf courses, mountain view, new build, and more). If you see a property that you like the look of, then you can make an enquiry.
Your Overseas Home also has property consultants available to discuss your property plans. They are free to call and friendly to chat with. They can connect you with lawyers, estate agents and other essential contacts to make your buying journey as stress-free as possible.
The buying process in Greece: six-month timeline
Working out your timetable is a fantastic way to make sure everything stays on track when you’re planning to buy a property in Greece. Once you’ve got that end date fixed in your mind, you can work backwards and set key markers in the process. Use the following as a checklist — simply tick off each point as you accomplish it as you progress.
Six months from buying in Greece…
- Narrow your choices to an achievable level in terms of location, size and use. Draw up that list of ‘must-haves’ and ‘nice-to-haves’.
- Assemble your team of Greek property specialists. You’ll definitely need an estate agent, lawyer, currency specialist and maybe a mortgage/financial adviser too.
- Review your finances and set your budget.
Five months from buying in Greece…
- Attend webinars and virtual events with Your Overseas Home.
- Start your detailed property search and communicate with your estate agent.
- Think about how you are going to structure the finances for any purchase — speak to your lawyer and financial adviser, if necessary.
Four months from buying in Greece…
- Run through your broad list of properties with your estate agent to find ones you realistically want to see on a viewing trip, and book that trip.
- Have detailed discussions with your lawyer and currency specialist to set up a structure to finance your purchase. That way, you’ll be in position to act immediately if needed.
Three months from buying in Greece…
- Attend property exhibitions relevant to your area and continue going on any extra viewing trips, if necessary.
- Meet with specialists to help you with the more complicated areas of your move, such as inheritance laws and property taxes, as well as removals.
- Get your AFM number and begin the process of opening a Greek bank account.
- Start viewing trips.
- Make your offer on your chosen property.
- Sign your reservation contract, if the seller requires it.
- Protect your budget with the help of a currency specialist. Consider a forward contract.
- Book a survey, if you wish to.
Two months from buying in Greece…
- Sign your deposit contract (and pay the deposit).
- Contract your notary.
- Plan removals decoration and make sure utilities are connected.
- Make final payment when told to do so by your lawyer.
On the day…
- Attend the notary’s office (or appoint power of attorney)
- Get the keys, move in and start your new life in Greece!