Selling property in Greece ?  3 Useful tips about the real estate market

Selling property in Greece ? 3 Useful tips about the real estate market

If you already own a property in Greece and are considering selling it, it is advisable to know some basic things about your decision, and the procedure to follow in order to have less hassle with the paperwork and ensure that the selling price will seek to respond to market conditions, and that this will be a balance between the desirable and the possible. Without doubt, at the moment, real estate market in Greece is what we call (buyer’s market), meaning that there is plenty on offer properties in very attractive prices, as developed after seven years of downward trend, and sales agreements leading to closing the sale, are now ranging at a rate of 30-40% lower than those of 2008.


1) Consult a local specialist to fix a “fair price”

Consult a local, professional and experienced estate agent you trust, to advise you on the current market price. This agent should have excellent recommendations, good name in the market and testimonials for his professionalism, because in Greece the agent considered as an intermediary between the two parties, the seller and the buyer, while offering his services and is supposed to protect the interests of both parties, for this he is paid by both sides.


2) Correct preparation of the sales

Make sure the property you intend to sell is legal and has all legal and technical requirements to be transferred. With regard to buildings, it is advisable to make a preliminary technical inspection of the property, in cooperation with a structural engineer to certify that all the property is legally built, or if there are illegal parts, such as pergolas, not indicated on the license or an additional storage space, and take the necessary legitimacy acts, to reassure that the property is ready to be transferred to the next buyer. In the case of selling land, is advisable to assign a surveyor engineer to prepare new topographic plan, based on national coordinates and in which the plot building terms will be reported, that confirm it is buildable and transferable and what is the overall layout of the site. If land within building zone, it is advisable to have archeology certificate issued, as well as a certificate from the local municipality, that confirms it does not occupy the municipal area. In addition for plots outside the building zone need an additional clearance certificate, issued by the local forestry authority, which requires eight copies of recent topographic diagram and a simple application which shall be deposited in the local forestry department. Your estate agent could appoint a local civil engineer or topographer could help you in this.


3) Choose the right expert

It is advisable to choose to appoint with a sale order a respectable estate agent who will promote your property in a professional manner  and is not advisable to assign with more than two offices , since the presentation of the same property by too many agents, confuse the buyer, debunks that afforded by all property and reduce the interest on it, plus the fact that it creates problems for serious professionals and reduces interest for serious engagement with this property. So Assign sale preferably in one and not more than 2 real estate agencies of your choice, after being sure of how he will promote your property both online, as and to the local media, the organization and the clientele he has both in local, and international market and that he has the appropriate experience and knowledge to advise you properly on the pragmatic-feasible selling price of your property. Also good is the office to have technical and legal support, engineers and surveyors, and cooperating lawyers, who will help and speed up the completion of the sales process.