Buying information

The process of buying property in any country, whether purely as an investment or for personal use, requires expertise, local knowledge and optimum timing.
If you are looking to buy a new home or investment property, Vinieris Real Estate has the knowledge and personal service coupled with the prestige of an internationally renowned name.
With hundreds of properties for sale, we are the estate agent of choice for those wishing to buy a new home in Kefalonia. From luxury houses, to rural estates and apartments, we have properties available to meet all requirements. Whether you are looking to move to Kefalonia, make a property investment, or buy a second home then we rae here to help you.
Vinieris Real Estate has considerable experience, both at national and international level, and our multilingual team are able to provide a full and complete package of services and will be happy to assist you with every aspect of your property search, from the selection and viewing process, right through to the procedure of signing the final contract and obtaining a sound title to the property.
We also offer an extensive range of property services to make buying your next home as seamless as possible:

  • Insurance advice
  • Professional valuations
  • Interior solutions
  • Private conveyancing such as: issue of a new topography diagram, help with the land registry process etc.
  • Commission of Energy Performance Certificate: we will help you issue this important certificate by suggesting you an accredited assessor of our team of associates.
  • Foreign exchange service

We can introduce you to our hand selected and reliable network of elite professionals, all of whom have worked very closely with Vinieris Real Estate for many years, and who will assist you with everything necessary to provide you with the complete turnkey service, during the process of purchasing existing property, a renovation project or a new construction, including:

  • Engineers & Surveyors
  • Lawyers & Notaries
  • Banks
  • Insurance Companies
  • Translators
  • Quality Tradesmen

Within the realms of Greek law, a property agent or broker is bound to act equally on behalf of both the seller and the buyer. Here at Vinieris Real Estate we endeavour to obtain the fairest possible price for both parties involved.

Generally there are no restrictions for European Union citizens acquiring real estate in Greece, and indeed now, due to recent changes in legislation, non-European Union citizens will have the opportunity also to purchase, thus opening the Kefalonian real estate market to the rest of the world, including the emerging economies of Asia and the Middle East.

As in most European countries, to assist you with the purchase of your property you will need to engage the services of a lawyer, who will check the title and ensure there are no outstanding charges against the property, and if you are purchasing building land you will need a professional surveyor to confirm what may be built.

We can assist you with the appointment of lawyer, surveyor, architect, and any other professionals whose services will be required.

Vinieris Real Estate is also able to offer our custom property finder service, which allows us to search for and identify property, which specifically matches your requirements. You may be looking for a specific location, property type, or price range, and utilising our vast experience in the market place and extensive network of contacts, we are able to find your unique dream property.

With our wealth of experience & knowledge of the Kefalonian property market, we will help you to negotiate an agreed purchase price for the property. After this, the usual procedure is as follows:

A pre-contract is prepared and signed by both parties. This commits both buyer and seller to a price and a date (usually within 60 days) for completion of the sale. Prior to signing the pre-contract, the purchaser’s lawyer will check that clear title exists in the property, and that there are no outstanding charges (for example mortgages, taxes, etc.). In the case of a building plot, he will confirm that building is permitted. Where additional consents are required (for example, from the Forestry Commission) these will also be obtained during this period.

At the time of signing the pre-contract, the buyer pays an agreed deposit which is usually about 10% of the purchase price. This deposit (less handling charges) is refundable in the event that the purchaser’s lawyer is unable satisfy himself with respect to the issues mentioned above. However, should the buyer wish to cancel the sale for any other reason, the deposit is forfeit.

As the purchaser, you will need to obtain a Greek tax number (AFM - pronounced “AhFeeMee”), and we can assist you with this. You will also appoint a lawyer and, if necessary, a surveyor. As mentioned, we can assist you with these appointments. The lawyer will appoint a public notary who will prepare the necessary Final Contract.

The day before signing the Final Contract, a tax declaration is signed and the amount of tax shown becomes payable. This is known as the Transfer Tax, and is payable to the Government. The amount of this tax is calculated on the value of the property assigned by the Tax Office, which is usually lower than the actual purchase price. Either the buyer's lawyer or the public notary effects this payment. It is therefore necessary to have funds easily available to make this payment at least a week before the date that the final contract is signed.

Signature of the Final Contract takes place in the office of the public notary. The presence of the buyer is necessary unless he has appointed someone with power of attorney to act on their behalf. Once the sale has been completed, the notary registers it with the Land Registry, who retains a copy of the Final Contract. The notary, who will supply certified copies to the buyer, also retains a copy.

Procedure at the Greek Consulate
It is also possible to arrange for Power of Attorney through the Greek Consulate in the purchaser’s home country. The existence of the Greek Consulate is of great practical importance for foreign purchasers, as the consulate can carry out legal actions which, in Greece, fall within the scope of a notary’s competence. That means that proxies concerning real estate transactions may be granted, when abroad, before a Greek consular official.

Registry of Mortgages
The notarized contract for the transfer of property can be effective only if combined with a registration of the transfer with the Registry of Mortgages or the Land Registry. The registry is a vital part of the purchase of property in Greece.

For budgeting purposes, you should bear in mind that you will need to find the following addition sums over and above the agreed purchase price of the property (these are approximate figures to give you a guideline)

* Transfer tax. 3%
* Public notary. 1%
* Buyer's lawyer. 0, 5% - 1% of sale price (depending on the value of the transaction).
* Estate Agency Fee. 2% of sale price plus VAT at 23% (of the 2% fee!)

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