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Buying a property in Crete

There are a number of steps and statutory checks that have to be carried out before a property purchase can be successfully completed. Your lawyer must know these, and only advise you to go ahead when they are satisfied with the checks. A further safeguard exists in the form of the Notary Public, who will not proceed unless all is satisfactory.

Sign contract

Assuming that your lawyer is satisfied with all the checks, the draft purchase contract can be prepared. The Notary Public will require "clean" title and the topographic plan before calculating the transfer taxes and drafting the purchase contract. From this stage up until final signing of the purchase contract, they may request further information until they are satisfied all is in order.

The day of purchase is likely to prove a lively affair, with the following people present at the Notary public's office:

• the Notary Public

• you and/or your appointed lawyer with Power of Attorney

• the vendor (and usually several of their family)

• the vendor's lawyer

• the surveyor

• ourselves

The Notary Public together with the lawyers, will read out the purchase contract, line by line, and cross-check various documents, including the title and topographical plan. The Notary Public may ask questions of the various people present, and may make telephone calls to check certain items.

Minor corrections to the draft contract are often made during this process, however if a major problem arises, the Notary Public will call a halt to the proceedings and ask for additional documents or signatures to be provided before re-convening on another day.

When the Notary public is satisfied that all is in order, the final purchase contract will be prepared, all necessary signatures made, and the relevant payments exchanged. At that point, the property is effectively yours.

You have cause to celebrate - you now own your perfect home in Crete!

Legal and professional fees
Lawyers normally charge up to 1.5% of the purchase price.

The Notary Public normally charges 1% of the purchase price.

Saturday November 25, 2017
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Office
Kampouri 4
Kissamos • Crete
Greece

Phone/fax
+30 28220 22585

Mobile
+30 697 445 8179 / 80

Postal address
CPH • PO Box 2
Kissamos • Crete 73400
Greece

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Licensed Greek real estate agents
Registered at the Chania Chamber of Commerce
Members of Chania Estate Agents Association
for assured property in Crete
We are members of SY.ME.NO.X

 

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