The first step towards your dream home in Greece is finding the perfect house. Of course, this depends on your personal goals, budget and preferences for location. Do you want a house for yourself or are you considering rental options? There is a wide choice: from new construction projects to existing homes, apartments and villas. Take the time to think carefully about your long-term goals. As with any investment, it is important that your choice fits your future plans. Do you have questions or would you like to brainstorm together on the best choice? We would be happy to help you with a no-obligation consultation.
After selecting your favorite houses, it is important to view them in person. This will give you a better sense of the area, the condition of the house and the facilities available. We recommend always doing the first viewing with a real estate agent. In addition, you can also visit the house and its surroundings at different times of the day so that you also know what it looks like at night. This will help you make an informed choice.
Price is of course an important factor when buying your house. You can negotiate yourself, but we recommend using our expertise as real estate agents. When negotiating, it is important to take into account resolutive conditions, such as a building inspection, the planned transfer period (especially if you intend to rent out the property), and legal checks such as checking debts and permits. As a real estate agent, we can guide you because we know the market well and can realistically assess the value of homes.
It is essential to hire a Greek lawyer and engineer to ensure that everything is legally in order. We work with a number of trusted professionals who can help you check property titles, investigate any charges (such as mortgages or claims), and verify the necessary permits and certificates. This way, you can take the next step with confidence.
Before buying your property in Rhodes, think carefully about the form of ownership. The form of ownership determines how you can use the house and what your rights and responsibilities are. Read more about the different forms of property ownership.
Once you have agreed upon the price, it is time to sign the private purchase agreement. This document lays down the terms of the purchase and transfer of the house. It will vary from purchase to purchase, but once the agreement is signed, the house is officially taken off the market and the parties are bound by the agreements. Upon signing, a deposit of 5% to 10% of the purchase price is usually required.
The Power of Attorney (POA) is an important step in the process. It allows your lawyer to represent you during the purchase process and take the necessary actions even if you are not in Greece. For example, your lawyer can apply for a Greek tax number and sign the final purchase deed on your behalf.
To buy property in Greece, you need a Greek tax number (AFM number). This number gives you access to the Greek tax and tax return system. Applying for a tax number is a simple process and is provided free of charge by the Greek tax authorities after showing a valid ID.
The notary prepares the final deed of sale after all the necessary documents have been collected, such as energy certificates, topographical diagrams and tax certificates. Once the buyer has paid the transfer tax, the final deed of sale can be signed. This is usually done in the presence of the buyer or a power of attorney. After signing, the deed is filed at the land registry or mortgage registry and from then on, the buyer is officially the owner of the property.
Usually, the payment of the property is made on the day of signing the purchase deed. If the buyer’s and seller’s banks are in different countries (e.g. from a Dutch to a Greek bank), a payment period of up to 10 working days is often agreed. In case the payment is not made on time, the seller has the right to cancel the contract and withhold the down payment.
Finally, the property is registered on the buyer’s tax form E-9. This completes the official tax registration of the property and thus your Greek adventure can truly begin!
With this roadmap, you can purchase your dream home in Rhodes with confidence. Need help with any of the steps? We are here to guide you through the process!
