MTA Houses | Real Estate Services

MTA Houses | Buying Guide

Buying a property through our company is a simple and straightforward process.

  1. Once you find the property that fits your requirements and wish to proceed with the purchase, there are several steps that should be taken when buying property in Crete. We are able to offer full assistance during all of these procedures so that everything runs smoothly through the whole buying process.
  2. You will need a local lawyer to represent and assist you throughout any purchase of property in Crete. Your lawyer has responsibility to check that all of the documentation is correct and can act on your behalf if you are not here. They will ensure that any property has clear titles, carry out all local authority searches required and prepare all necessary documents for a sale contract.
  3. You will need to sign a Power of attorney to your lawyer to give them the authority to act on your behalf if you don’t plan to be in Crete throughout the buying process.
  4. The lawyer is also responsible for the verification and registration of any new property owners at the public authorities.
  5. Your lawyer will arrange that all contracts are registered at a public notary (a government appointed lawyer). All property transfer contracts must be completed in the presence of this public notary according to Greek law and signed by both buyer and seller or their legal representatives.
  6. We can introduce or recommend to you local experienced lawyers fluent in other languages (English, French, German, Italian and Russian).
  7. When you have decided on a property and the vendor has accepted your offer, it is advisable to signed by both parties a non – committal document in the form of a letter of Intent, which outline the terms of deal. At the same time a 10% deposit is also given to reserve the property and take it off the market.
  8. 50% of our agency fees must be paid along with the payment of the deposit. The deposit is paid to your solicitor and is handed over to the seller only after we made sure that all the documents of the property are in order.
  9. A Greek tax number is required in order to purchase property in Greece. Your passport and full birth certificate (with both parent’s names) as well as a utility bill, that proves your permanent address, as well as your tax returns from last year must be taken to the local tax office in order to receive your personal tax number.
  10. All monies transferred into Greece are documented and bank transfer receipts are issued by your Greek bank and must be kept. These are your proof for the tax office that no income was made in Greece. If money is being carried into the country personally it should be declared to the relevant authorities at the first port of entry.
  11. In addition to the purchase price of your property, you will be required to pay certain other necessary expenses. These include fees payable to your lawyer, government purchase taxes, notary fees and real estate agent commissions.
  12. We will advise you of these amounts in clear detail before you decide to buy a property. Usually, you should allow 8 - 10 % of the agreed sales price to cover all these expenses.
  13. The costs for the purchase of a property in Greece are:
    • Transfer tax (approx. 3,5%)
    • Legal fees (approx. 1,5%)
    • Public Notary fees (approx. 1,5-2%)
    • Estate Agent fees (3% + VAT) (Minimum estate agent charge: €1500 + VAT).