Frequently Asked Questions
Question about selling
No, it is no longer a legal requirement. However, it is highly recommended as lawyers perform legal due diligence and conduct a title check that goes back 20 years. They ensure that the property is free from mortgages, claims, expropriations, rights of way and, in general, any legal encumbrances. In addition, lawyers ensure that all property taxes owed by the seller have been paid.
Yes. A notary is a government-appointed lawyer who processes and certifies all real estate transactions, including preparing and reviewing all official documents, to ensure the legal transfer of the property.
Yes. It is essential to hire an accountant early on to help you with your tax returns and explain property taxes.
Yes. Property Surveyors ensure that all acts related to the building permit of the property are based on legal planning permits. They are usually outsourced by the appointed Greek Law Firm.
The Tax Value is the estimated monetary value of a property according to the Greek tax authorities. As a general rule, the tax value of a property is significantly lower than its purchase price. The taxable value of the property has nothing to do with the taxes paid. Transfer taxes are paid on the purchase price.
Question about renting
The owner is responsible for expenses related to fixed assets of the property such as plumbing, electrical, etc. For repairs related to the use of the property, the tenant is responsible.
If an old house meets the standards for insulation, cleanliness, safety, and is maintained, it is the same as a new house.
