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Crete Property Buying Process |
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STEP
1 : : :
Having decided to buy your new home in Crete your first
step will be to appoint a lawyer to act for and on your
behalf.
The Lawyer
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Your chosen lawyer
(who we can introduce you to) will explain the legal
side of buying in Greece.
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Your
lawyer will accompany you to a Public Notary (a government
appointed body) where you will pay approx. €50 and
complete the documents required to give the lawyer
Power of Attorney to represent you in this purchase.
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Your
lawyer will then be able to open a local bank account
for you in joint names to allow you to transfer money
from your home country to Crete to finance your purchase.
Your lawyer will then be able to forward the stage payments to the builder when you request her to do so..
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Furthermore
your lawyer - once given Power of Attorney - will
then obtain your local tax number for you (known as
A.Fee.Mee Number) This number is required by law to
be able to purchase property in Greece.
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Your
lawyer's fees will be paid separately to him/her by
you at Land stage of the Buying Land stage of the
Buying Process, i.e. 40% stage (stages 1 and 2 together).
These fees also include the purchase tax - the only
tax liable on your new home. Once the purchase tax
is paid there are no further tax liabilities on your
new home in Greece. There is no Capital Gains Tax
in Greece.
| Stage
Payments : : : |
10%
Deposit |
| 30%
Land purchase |
| 30%
1st construction |
| 30%
less €1000 - 2nd construction |
| €1000
Hand over of keys |
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Your
lawyer will also be able to sign all purchase documents
on your behalf and in your absence.
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All
paperwork with the lawyer and visit to the Public
Notary is concluded in approximately one hour.
STEP 2 : : :
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A
specification sheet should be completed before you
leave Crete.
This is a breakdown of any extras that you would like
to add to your new home, i.e. solar panel, central
heating, water deposit tank, and also detailing colours
of wood to be used and tile orders from local stockists
for future reference by New Century.
STEP 4 : : :
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10%
Deposit.
When you have returned home your lawyer will inform you
of the details of the account that she has opened
for you so that you can transfer your 10% deposit.
We will inform you of all monies received and you
will be sent requests for future stage payments as
and when required.
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30%
- Land Purchase
This stage payment is also required pretty much as
soon as you return home. At this point your will be
registered in the local Land Registry and titles will
be signed for by your lawyer. By Law at this time
anything then built on the land is legally yours.
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30%
- 1st Construction
You will be requested to forward this money at the
stage that the frame of the house has been built.
It is our policy that you should see the work in progress on
your new building before you start to pay for it.
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30%
- 2nd Construction - less €1000
Again this money will be requested at a time appropriate
to the works being done in your new home. This money
should be sent when all bricking up and plastering
has been finished and New Century has started your
fixtures and fittings in your new home.
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€
1000
You will be expected to pay this at hand over of keys.
As soon as is possible we request that you check through
your new home and advise us of any outstanding items
or problems that you may come across.
Also
at 2nd construction stage and near the finishing
of the building - if you have ordered electrical goods
and furniture - New Century will endeavour to have these
delivered and installed before you arrive.
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