Buyer’s Guide

Your Step-by-Step Path to Owning Property in Crete

Buying a property in Crete is a straightforward process, especially when you have the right team by your side. 

At QPS, we manage the bureaucracy so you can focus on the excitement of your new home.

Here is what you need to know about the buying process in Greece:

Step 1: Find Your Dream Property

Browse our extensive portfolio of high-quality properties or simply share your criteria with us. Thanks to our powerful network of alliances with premium agencies across Crete and abroad, we can grant you access to the finest properties on the market.

Step 2: Secure the Property (The Reservation Agreement)

Once you find the perfect place, the buying process formally begins:

• The Preliminary Agreement: This document identifies the buyer and seller, states the agreed price and outlines the terms and conditions.
• The Deposit: To take the property off the market and secure the purchase, a deposit is required (usually 10% of the agreed price).
• Legal Representation: We highly recommend appointing a local real estate attorney to protect your interests. Upon request, we can provide a vetted list of experienced, independent lawyers.
• Power of Attorney (PoA): If you cannot be physically present in Crete, you can grant your lawyer a Power of Attorney to sign documents and manage the process on your behalf.

Step 3: Legal & Administrative Preparation

Your attorney and the public notary will handle the essential legal groundwork:

• Title Search: Ensuring the property has a completely clear title, free of legal disputes, debts or mortgages.
• Tax Number (AFM): Your lawyer will issue your Greek Tax Registry Number, which is mandatory for any property transaction.
• Bank Account: Assisting you in opening a local Greek bank account to facilitate secure funds transfers.

Step 4: The Final Contract & Title Transfer

When all legal and technical checks are successfully completed, the Public Notary drafts the final deed:

• The Signing: The contract is read aloud and signed by both parties (or their legal representatives) in the presence of the Notary.
• Final Payment: The remaining balance of the purchase price is transferred to the seller.
• Registration: Your lawyer immediately registers the deed at the Land Registry (Ktimatologio) and the Registry of Mortgages. This official step establishes your full legal ownership.

Estimated Taxes & Closing Costs

To help you budget accurately, here is a breakdown of the standard fees associated with buying property in Greece (calculated on the property value stated in the contract):

• Transfer Tax: 3% (paid to the local Tax Office prior to signing the final contract).
• Notary Fees: Approximately 1,5% – 2% (covering the drafting of the deed and state stamps).
• Land Registry Fees: Approximately 0,5% (for the official registration of your title).
• Lawyer Fees: Usually around 1% – 1,5% (depending on the complexity of the project and your agreement with the attorney).
• QPS Agency Fee: Our standard agency fee is 3% of the final purchase price, plus the legal VAT. (Please note: For properties priced at or below 50.000 euro, a minimum standard fee of 1.500 euro plus legal VAT applies).

Note: As a property owner in Greece, you will be required to submit an annual tax declaration (E9), a simple process that a local accountant can easily manage for you.