What you need to know before buying a property on Skopelos island.
In order to cover some initial questions you may have, here we will give you the answers to some of the most Frequently Asked Questions (FAQ’s) we have received from customers in the past and are still regularly asked to date.
Most of them have to do with the real estate market at present on Skopelos Island, whether it is a buy or sell market, requests for property searches, the proxy services we offer etc.
Naturally, it is impossible to foresee every single question that you may have, but you only need to contact us via our contact form to ask anything you wish to know or clarify.
Questions about our Services
Most definitely YES! Being natives to the island has its benefits and we know who can get things done quickly and efficiently, all you need to do ask and we will place our services to work on your behalf.
Yes! Although this is a very safe island in all respects, and we do not have natural disasters, at this point it is impossible to foresee how future climate change will affect southern Europe, so it would be a good idea to do so. Also if you wish to rent your property out when you are not using it, it is always a good precaution to do so.
Absolutely! We have a whole team in the wings that can help you at any level if you want it to. We can arrange an initial meeting with the people that are of most interest to you for your property and we can then oversee everything they do as well.
Certainly! Land property is a special case since it holds all your dreams and aspirations for your new home. The main thing to keep in mind is that different countries have different laws and processes that need to be met. This takes people with specialized knowledge and we have them all.
For Rural Properties (i.e. cottages) you may look everywhere else. If you wish to live on Skopelos permanently you can even look for a Commercial Property and run your own business. If you want to start from scratch and build a home to your exact specifications, look at Land Properties.
In short, we can help you with anything you want concerning your property desires. Contact us to arrange for an online meeting where you can tell us what it is you are looking for.
This is impossible unless you have a local service doing this for you and we have made provision for this as well. Tell us what you want done and we will take care of it for you.
Yes, we can arrange this with you also anytime you want, it is not a problem at all.
We would even advise you to do so since there is no point in leaving your property empty accruing expenses and basically being a liability when it can easily become an asset. Besides, the extra income in your pocket can make life really pleasant when you come to stay, since it would have made money for you.
Of course! That is amongst the many things we do! Just tell us when you want the house to be working for you and when you want it for yourself and we will arrange everything for you without hassle.
Definitely, if that is what you want! If you trusted us enough to buy through us then you can certainly trust us enough to get you a good deal for it.
Questions about Legal Procedures
Buying any kind of property in Greece can be stress-free, particularly if you let the realtor handle the legwork for you. As in any country that has local laws and rules, it is best to let the locals deal with them for you.
Questions you may have are answered below. For further queries please contact us.
The primary job of a realtor is to save the buyer time, effort and money and to make the transfer of property painless.
Skopelos Realty is here to help you buy (or rent) property here on the island. Our office collaborates with all the important professionals involved to make your life easier, accountants, engineers, lawyers, and notaries and we will be happy to connect you. All speak English and some, several more languages as well.
Skopelos is a small island, so everything is accomplished relatively easily and quickly with the right help.
Please keep in mind that Greek law demands a translator present at contract signings, to translate from Greek into your language. We take care of this.
Absolutely! He ensures that all property taxes owed by the seller have been paid; the property is free of claims, mortgages, rights-of-way, and legal encumbrances. In short, he carries out all the necessary property surveys, conducts a property title check and does the legal paperwork.
Naturally, property is a sizeable financial transaction and a very important one. A government-appointed Public Notary processes and certifies all real estate transactions. Including drawing up and reviewing all official documents ensuring the legal transfer of property. All final checks are made by a Public Notary at the signing of the documents.
Not if you understand Greek property taxation laws and tax returns. If you do not, we highly recommend you appoint one early on to help you.
It is mandatory. This Tax Register Number – (called an AFM in Greece) is required of all property buyers, foreign and domestic, even permanent residents abroad. It is issued free of charge in situ at tax offices. All applicants must present their Identification or Passport. If Power of Attorney has been granted to someone acting on the buyers behalf, they can apply for an AFM on their behalf.
The estimated monetary value of a property according to the Greek tax authorities is known as the Tax Assessed Value. This value depends on things such as the location, age, and size of the property etc. As a rule, a property’s Tax Assessed Value is much lower than its Official Property Price. Based on this price, the purchaser pays a one off tax at the time of purchase. i.e. Stamp Duty is the UK equivalent.
Indeed! In order to have a full financial record to protect all parties, all necessary payments associated with the purchase of the property will be made via this account. For foreign nationals and residents, this account proves that funds used for the property purchase are not taxable in Greece, since they have been transferred from abroad. A Greek bank account takes minutes and no minimum deposit is required. All that is necessary is a utility bill with proof of your address, your AFM and an ID or passport.
10 percent of the purchase price to cover all costs, commissions and taxes, etc. is a good number to expect and budget for.
The process is quite uncomplicated and actually quite brisk with the right people to help. It is as follows:
- See properties with your realtor.
- Select the property you want.
- Secure financing for the purchase.
- Appoint a solicitor to do the property checks.
- Apply for your Tax Registry Number (AFM).
- Open a Greek bank account.
- Sign the agreement detailing terms of the sale and payment schedule. (Pay a 10 per cent deposit to secure the property to take it off the market at this point.)
- After all legal work is completed by the Lawyers and Public Notary return to Greece to sign the final contract.
Should you wish to have someone else do all this, you may grant power of attorney to somebody to act for you during the buying process. This must be arranged during your time on Skopelos Island, or if this is not possible, it can be done at the Greek Embassy in your country. Skopelos Realty will send you a document prepared by the notary – in Greek – which you will then present to the Embassy. Details will be supplied to you by us if you decide to follow this course. The P.O.A. must also allow the person named to act on your behalf at the tax office, water and electricity companies, planning authorities a.s.o.