Greek law prohibits the acquisition of any real property by signing a private document, and where it occurs, the purchase is considered null and void.

Generally, the buyer has the right to choose and appoint a notary because it bears notarium costs.

The work of the notary is critical because the act protects and guarantees the rights conferred on both contracting parties and provides legal proof of ownership of the property.

As regards notary costs, they depend on the price of acquisition.

In any case, an amount of approximately 1.2 per cent of the contract price is charged. In addition, additional money should be paid to cover third-party contributions (Greece Foundation, etc.) and as a notarized remuneration, depending on the total number of pages of the contract and the number of certified copies.

In addition to the above-mentioned fees, the Mortgage Register charges approximately 0.5 per cent of the purchase price for transferring ownership.

THE LIMITATION OF LEGAL SERVICES

1. The most important person throughout the process of acquiring real property is a lawyer, especially a buyer ' s lawyer, whose contribution to the transaction is crucial because he is the person who protects and guarantees the interests of his client. ♪

   It is worth noting the special situation of Greek law, which requires the presence of a lawyer at the time of transfer of ownership, if the value of the transaction exceeds 29,347 I for real estate in the cities of Athens/Pirae, or 11,739 for real estate in all other parts of Greece. The mandatory presence of a lawyer means that he will not only be present during the contract but will also sign the document.

2. Greek law does not limit the value of legal services in any real property transaction and the cost of such services is determined by mutual agreement between the parties (lawyer and buyer).

   On the other hand, the law defines the following minimum amounts of remuneration for the conclusion of any Real estate transactionsthe cost of services below:

   ♪ At the contract price (purchase rate) below Euro44,020, minimum remuneration is 1 per cent.
   ♪ At the price of the contract (purchase rate) of Euro44, 020 to Euro1, 467, Euro351, minimum remuneration is 0.5%.
   ♪ At the price of the contract (purchase rate) of 1,467, 351 to 2, 934, 702 me, minimum remuneration is 0.4%.
   ♪ At the price of the contract (purchase rate) of 2, 934, 702 to 5, 869, 405 me, the minimum remuneration is 0.3%.
   ♪ At a contract price (purchase rate) of 5, 869, 405 to 14, 673, 514 me, minimum remuneration is 0.2%.
   ♪ At a contract price (purchase rate) of 14, 673, 514 to 29, 347, 028 me, minimum remuneration of 0.1%.
   ♪ At a contract price (purchase rate) of 29, 347, 028 to 58, 694, 0.57 me, minimum remuneration 0.05%
   ♪ If the amount exceeds 58, 694, 057 me, the minimum remuneration is 0.01 per cent
   Cost of purchase

   The above-mentioned minimum amounts of remuneration should be paid before the signing of the contract to the respective Legal Board. Part of the amount is retained by the Legal Board (the Athena Jurists College retains 35 per cent of the remuneration) and the remainder is due to a lawyer.