Good morning everyone,

As the process of property transfers/sales has changed significantly, below you will find a roadmap to have a complete picture of the steps required.

I personally commit that the following map is as up-to-date as possible. However, it is generally based on properties and not on specific cases that require the involvement of specialists (accountants, lawyers, Civil Engineers, Surveying Engineers, Certified Assessors, etc.), and these need to be addressed on a case-by-case basis.

So let's get started: You have decided to sell your property, great!

The first step is to outline your timeline, meaning roughly when you would like to have a down payment and when the contract should be finalized. Believe me, this is a key factor that will affect the price you will achieve and does not directly relate to the market value of the property.

In my 22 years of experience, I have heard the response "I'm not in a hurry" many times, and of course, I understand it. However, what does this mean? Can you wait for 2 years? Obviously not, or maybe yes. Therefore, it needs to be documented.

The next move is made from the computer and is very simple. You enter the property sales portals and the websites of the real estate agencies dealing with the area where the property is located. There you will have a complete picture of the average values sought. Be careful, each property has its own characteristics and must be appropriately assessed.

So far, everything sounds simple and easy.

The next step is to see what information you have about the property (you will need it from the beginning and certainly before the contract):

Recent topographic diagram, which is necessary for plots (but I would recommend it for an apartment as well)

Building permit (for properties after 1983) with all possible revisions

Floor plan(s)

If there are space arrangements, those documents will also be needed

Of course, property titles

and if it is an apartment, Horizontal Property Declaration

The above are NOT mandatory to start the property sales process, but there is no chance that a serious interested party will not request them before any agreement is made. Therefore, I believe it is better to have them from the beginning.

By the way, if a buyer is ready to give a down payment before requesting the above, my experience has shown that it is either a step in negotiation (the price has not been locked) or it is a completely preliminary step, so they may back out or at the very least, a small percentage may be of the old school...

An important note: the topographic diagram must be recent (especially for the sale of a plot or a detached house), which means it must include:

a) a responsible engineer's statement according to Law 651/1977 & Law 1337/83,

b) a statement that there is no high-voltage current passing through,

c) for plots of land: whether it is within or outside the town planning zone and the distance from the sea (accurate up to 800 meters) and the road classification (municipal/community/district/private, etc.).

d) it must explicitly state that it accompanies the engineer's certificate (which is necessary for the Electronic Identity of the property)

Then the sales process starts with the marketing of the property. At this point, I cannot fail to mention the elephant in the room:

Of course, you can sell it privately, and I do not diminish the cost of the brokerage fee of 2% + VAT at all. However, the buyers for your property are specific, and their first action is to explore their options through property portals. If you put yourself in their shoes and see multiple listings of the same property, perhaps with different asking prices, the result will either give you the feeling that there is sales pressure (which may not be the case) and therefore coercive negotiations, or you might just overlook it.

If the goal is to sell it on your own, my suggestion is not to post it on other real estate agencies' platforms. If you want to work with a professional real estate agent, then either assign it exclusively to one, to handle it with the necessary professionalism, or to 2-3 agencies at most.

Please note that having the property for sale in multiple real estate agencies does NOT increase the likelihood of a sale; on the contrary, it works negatively. When you reach the down payment, that's where the ordeal begins with the destination of the final contract of the property, and the following must be collected:

(With the help of an accountant) First, you will need the Tax Clearance Certificate (usually issued electronically). Pay attention:

The property must be stated with the property tax code (ATK)

Almost always, it is requested to be issued 1-2 days before the contract is signed

(With the help of an accountant) INSURANCE INFORMATION from the Social Security Institute (IKA) if the transferor:

is running a sole proprietorship or participating in a partnership or company of any kind and in any capacity

has been issued a building permit or has built a structure within the last 10 years

(With the help of an accountant) Certificate that inheritance tax, dowry, gift, or parental provision tax has been paid by the Tax Office where the relevant declaration was submitted, if the property has been acquired in any of the following ways:

from 1-1-1995 until today,

otherwise, the relevant contract.

With the Contribution of a Civil Engineer, a Certificate of the Engineer for possible arrangements (SOS)

With the Contribution of a Civil Engineer, a Certificate of Energy Performance of Buildings, known as PEAB, for buildings with an area of 50 sq. m. and above

SOS exemptions include parental benefits, donations, inheritance receipts, distributions, and exchanges.

The cost is usually not high.

Another necessary document is the EXCERPT FROM THE CADASTRAL DIAGRAM & EXCERPT – which includes owners, co-ownership percentages, titles, etc.

We return to the help of the accountant, and we also need: EN.F.I.A. for the last five (5) years (Article 54 Law 4174/2013 & Article 54A Law 4223/2013 // Government Gazette 287/A/31-12-2013 & POL1279-Government Gazette 3397/B/31-12-2013)

• Specifically for the year 2014, it is issued for the years [2010-2013]

NATURAL PERSONS: (POL1279-Government Gazette 3397/B/31-12-2013 Article 4 Issued with a property identity number-ATAC- from 'www1.gsis.gr/webtax3/etak/faces/index.jspx'

LEGAL ENTITIES: ISSUED BY THE TAX OFFICE (POL1279-Government Gazette 3397/B/31-12-2013 Article 3)

Hang in there; we are approaching the end.

Here we need the Civil Engineer again and examine whether the documents we collected at the beginning are suitable for the transfer (always in conjunction with the Notary) meaning:

The topographic diagram includes the necessary declarations

The building permit is the original one (a visit to the city planning department may be required)

The floor plans are the same as those of the permit and state that they accompany the Engineer's certificate

There should also be a Table of Apportionment SOS on any Adjustments should present an Analysis of the areas that were "regularized" and the LAW by which the regularization was done.

T.A.P. from the municipality (this may have some delay)

And finally, the Electronic Building Identity (from the Civil Engineer)

I know very well that it seems like a mountain, especially the bureaucracy/hassle, and with 23 years of experience, many times we long for the past when the process was simpler and shorter. However, to tell the whole truth, the buyer didn't have a clear picture of what they were buying back then (think of enclosed semi-open spaces, basement floors for primary use, etc.).

However, I know that the above process reduces the joy of the sale and purchase and very often is the cause of misunderstandings and complaints throughout the duration after the down payment. My advice is simple:

• Organize the documents from the beginning

• Communicate with experienced collaborators

• Coordinate and...

• Patience with plenty of positive attitude.

Have a great day.

Vasilis Asteriadis