Pazar, 16 Temmuz 2017 21:17

Misconseptions About Greek Property Market - Acquisition of real estate in Greece is easy and effortless.

Yazan

Acquisition of real estate in Greece is easy and effortless.

Acquisition of real estate in Greece is not easy and effortless. Property purchase in Greece can not be done in one day.

Greece does not have the most effective infrastructure in title deed system . The title deed directorate of each territory is separate.

By plain words  each district or neighbourhood has its own land registry offices.

Buying and selling may not be conducted under the same procedures in each region.

Trading is carried out through a notary public. The legistrator has fully authorised the notaries to perform the property transfer procedure.

All the details of the transaction are managed and checked by a notary and on the day of purchase, the sales contract is made before the notary public.

The sale contract executed in the notary shall be presented to the title deed directorate the next day and the information about the contract and the sale of the place shall be registered to the title records.

Within a few days, the title deed office informs the lawyer of the buyer  that the contract transfer has been completed and recorded accordingly . 

The above text is also the answer to why notaries demand 1% of the value of the property as a service cost.

 

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