How to sell a home abroad: step-by-step instructions
For the last months we are regularly asked about not how to buy real estate in Greece, but how to sell it. Why choose RES-Greece to sell your property in Greece:
So that you can avoid mistakes and successfully sell your home in Greece, we have prepared small instructions.
How to sell property in Greece: FAQ and step-by-step instruction
Is it possible to sell real estate in Greece remotely?
Yes, you can sell real estate in Greece remotely. An owner, living in another country, can make a power of attorney with an apostille to be represented on the contact by a realtor, lawyer or any other authorized person living in Greece. We will prepare a power of attorney form for you, and the ready apostilled document will be officially translated and certified in Greece.
Local lawyers can supervise the sale of real estate without the participation of the owner in the process, so if you cannot or do not want to deal with all the procedure of the transaction, then you should pay attention to this option.
If you do not want to make power of attorney for the sale, you can come to the country to sign the purchase contact in the notary. We will do the rest for you as your realtors. You can control the sales process by phone or email.
When is the proper time to sell property in Greece?
The best time to sell real estate is during the expansion and oversaturation stages, when prices reach their peak, there is a shortage of properties and deficit on the market and you can get maximum income from the transaction. 2024 is just such a time, the market is approaching saturation and prices are at their highest (check the official data here).
The season also matters. In Greece, in resort and vacation regions, it is best to put up real estate for sale at the end of winter, since potential clients begin their search in March, therefore in May-June you can receive an offer and carry out a transaction before the fall.
How to determine the price?
To first understand how much a property costs, it is recommended to look at similar options on real estate portals and subtract approximately 5% from the average price (taking into account the fact that many properties are sold with a discount). In this way, the owner can find out the approximate price and decide for himself whether he is ready to sell on such terms. Next, we, as a real estate agency, will give you a more accurate assessment of the property after viewing the property.
How much is the Seller’s expenses while selling property in Greece?
The seller of the property in Greece bears the cost of paying commissions for a realtor, lawyer, and engineer for the preparation of technical documentation and a passport for the property. Related expenses when selling property:
- Realtor commission - 4% of the property price
- Costs for legal services 0.5-1.0% of the cost of the object
- Costs for engineer services are 700-1000 euros.
- Capital gains tax. Good news, there is currently a moratorium on capital gains tax in Greece and the seller does not pay any tax on sale.
How to sell real estate in Greece faster?
Before selling, you should put your home in order, namely:
- Carry out general cleaning.
- Throw away all unnecessary things, take out excess furniture to make the rooms seem more spacious, and remove family photos and personal things.
- Make small repairs and painting (if required).
- Clean up the area around the house
- Order professional photographs or it can be done by a real estate agency.
- Advertise your property in a high-quality manner: it is the realtor who will post information about your property both on his website and on the most significant sites in Greece and Europe.
You should not invest too much money in pre-sale repairs as such investments do not always pay off upon sale.
How to choose a realtor for selling real estate in Greece?
When choosing a real estate agent, it is recommended to pay attention to the quality of the website, customer reviews, work experience, specialization in the desired market segment and location, competence and attitude to the buyer’s wishes.
The main roles assigned to real estate agents during sales are:
- assessing real estate
- conducting viewings
- meeting buyers and negotiating the price
- coordinating all participants during the preparation and execution of the transaction
Sell your property in Greece hassle-free with RES-Greece! With 17 years of experience specializing solely in Greek real estate, we have the expertise to help you get the best price for your property. Based in Greece, we understand the market inside and out, enabling us to find solutions even in the most complex situations while always considering our clients' preferences.
What are the documents that i have to prepare berfore sale?
To sell real estate you will need the following documents:
- certificate of ownership and sales contract
- documents confirming the absence of debts for taxes and utilities
- technical package of documents (plans, topographical plans, technical passport of real estate, energy efficiency certificate, etc.)
If the property is for sale through an agency, than realtors and lawyers will help prepare all the documents.
Who pay the realtor's commission and when?
In Greece, the real estate commission is usually paid by the seller of the property on the day of the contract.
