Buying real estate in Greece, why to hire an agency?
10 October, 2022
During your holidays in Greece, you will see, in town, in the countryside, by the sea or on the islands, some small black and orange posters that offer a house or an apartment for long-term rental.
Of course, you will try to contact the telephone number displayed, you will ask the neighbors to find out more.
For sure, you will find on your way, a very friendly person who will explain to you that he knows the owner well and that he can assist you in your approach and your negotiations. This providential person may know of a more interesting goods proposed by his friends or a family member. You will certainly be seduced for a while because, common sense admits that we trust local people.
But, it is our duty to warn you for all the dangers of these "good deals" and, be sure that we could write a whole book with all the disappointments generated by these « good guys » and random commercial practices because, since the world is , every Greek feels a bit like the soul of a real estate agent when a small occult commission is expected...
With regard to a property rental, the regulations have evolved in the direction of strengthening the obligations of the owner and the legal and tax transparency of the contract or lease. Indeed, the tenant must have his own Greek tax registration and register, not without having previously obtained an alphanumeric tax key, on the “Taxnet” official website. Otherwise, it would be impossible to obtain the opening of an energy, water or telephone and internet subscription, and also a bank account. The owner has the obligation declare the same datas and the information is cross-checked by the administration.
You can make the choice of illegality and hiding, but multiple problems will become your daily horizon, so it is, for us, an irrelevant option.
Concerning any real estate purchase, an individual intermediary would qualify as a clandestine real estate agent. Indeed, he would calculate his commission on the basis of what an official agency would ask you without offering you the slightest financial or legal guarantee.
You must know that real estate transactions are increasingly regulated in Greece and that the status of real estate agent has been considerably structured and organized in recent years. A professional union has even been created under the impetus of some leading agencies.
A recognized professional will help you to prepare the deeds with the lawyer, the notary, possibly with the bank and will guarantee you the intervention of a competent civil engineer for the technical evaluation of the property you want to buy.
An amateur will possibly tell you what steps to take, possibly recommend a distant relative lawyer, but will always leave you alone and distraught when confronted with legal and administrative procedures and will certainly keep from you the legal problems hidden in the history of the property from you . These can be partly illegal constructions or illegitimate title deeds. We have plenty of examples of these guilty omissions.
None of this in a real estate agency which is bound by very strict obligations and which plays its name and reputation with each transaction. A real estate agency is bound by a contract signed with its client and all the essential points are clearly detailed from the very firts day of the relationship.
Moreover, if the partnership with your real estate agent is good, which is mostly the case, you will be sure to have personalized support according to your personality and your most specific needs. You will be able to examine a large number of property proposals and make a responsible and informed choice. At each stages of the procedure, you will receive the best advice to make your project a success and fully understand the environment in which you will evolve after your real estate purchase.
After reading this short article, you could objectively distribute the positive and negative arguments between two columns of a table and form your own opinion.
For us, it is very clear. A real estate agency is a crucial player of your project. At Mobilia Real Estate, it is our joy and our honor to serve with the highest standards of ethics the clients who entrust us with the keys of a door that will open a happy and harmonious path for them.
This door is the one of the property they are going to acquire, this door, we hope, can also be our agency one.