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Buying Property in Greece Print E-mail

  • Advance payment from the customer, for the plot purchase (customary 10% of its value). Simultaneous advance payment (presently 1.500€) from the customer for the first plans of the house, so the contractor could start the study based on the criteria the customer will give him.
  • Legal search from the customer’ solicitor to ascertain whether the plot fulfills all the legal requirements, and that it can be built on (In case the plot has any legal problem, or building problems, the monies paid by the buyer for the plot are refunded immediately).While the solicitor carries out all the necessary legal checks for the plot and collects all necessary documents required for the purchase, the contractor studies and gives suggestions to the customer for the plans of the house, based on the customer’s preferences, until they arrive at a final plan that satisfies all of the customers criteria.
  • When the customer chooses the final plan of the house, he agrees with the contractor about the materials that will be used with an in depth analysis in writing. They also agree all the technical specifications of the dwelling and what is included in the construction of the house.
  • After that, the contractor calculates the exact cost of the project, and prepares an agreement with:

a) analytical description of what is included in the building cost,

b) what is not included,

c) the stage payments to be made by the customer and

d) the deadline by which the contractor must hand over the house completed to the customer.

  • When the customer receives the final agreement, studies it and agrees with what is mentioned, they then pay the balance of the plot’s value, and the final contract for the plot purchase is signed at the notary’s office.
  • At the same time, the final private agreement (between the contractor and the client) for the construction of the house is signed, and the customer pays the first installment of the construction cost.
  • Immediately after the signing of the final private agreement, the contractor’s civil engineer initiates the procedure for the building license, which, under normal circumstances, lasts approx. two months. (If an EOT/GNOT License is also required, that procedure starts at the same time and full payment of the EOT license file must be paid in advance, in full). After the issue of building license from the Town Planning, the customer pays the next installment for the house construction and the building works start immediately.

 



 
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