by admin Are you you a private investor who is interested in buying or selling property in Greece?
Here is 10 tips of what you need to think about in Greek Real Estate:
1) Location, location, location! Step number one is to decide on the area you wish to live in, or wish to invest your money in.
2) Browse through as many websites as possible to locate the property that suits you best.
3) Locate the right property agency, which will guide you through the process of buying or selling.
4) Read carefully the terms and conditions of your agreement with the property agent. This includes reviewing the type of services you will provided and the types of commission fees you will be paying at the end.
5) Request a viewing at the property and a thorough evaluation by a skilled professional. Your property agency will be happy to assist you with your inquiry.
6) Run a background check on similar properties that are currently available in the Greek market. To do this, you will need to access a few of Greek property websites or the actual webpages of the property agencies you have already contacted. The background check should include your areas of preference and features of the properties, such as the year of construction, the type of refurbishment, and of course, the price.
7) Consult with an architect, planning designer or civil engineer if the property is old and requires renovation. You might be surprised to find out that house renovations in Greece do not cost as much as you might think.
8) Find a trustworthy solicitor to run a background check on the property, its ownership titles, previous landlords and possible pending loans or unpaid mortgages tied to the property. The solicitor will also guide you through the legal requirements for buying a property in Greece.
9) If you will be transferring funds from abroad, it is always sensible to consult with an accountant or tax specialist. The Greek legislation requires certain fund-registering procedures and opening up a national tax declaration account. An accountant is also likely to guide you through if you are seeking for a property mortgage.
10) If you are buying property, then you need to hire a notary, who will finalise the purchase procedure on your behalf. In Greece, there is a certified guild of notaries, which deals with transfers of ownership. Your solicitor is also likely to help you in finding one.