The ultimate guide in buying property in Crete

Technical Due Diligence Report

• The assistance of a civil engineer is deemed necessary prior to purchasing a property in Crete because the prospective buyer must entrust a qualified engineer (an architect or civil engineer) of his trust to examine the property from an urban planning and technical perspective.
• The specialized investigation is similarly basically as significant as the legitimate review, since, supposing that done accurately, it will possibly shield the purchaser from a sad and harming acquisition of an unlawful metropolitan preparation or risky or unsatisfactory for the normal utilization of a structure, too as undetectable issues that can be intense.
• The Land Registry, the Posting of Forest Maps, and the Local Urban Plans are all pending, requiring the engineer's assistance. Additionally, the engineer will present the potential buyer with a comprehensive and clear picture of the property under consideration.

Legal Due Diligence Report

• The expected level of investment phase of a property is likewise a significant interaction, guaranteeing that the property to be bought presents no legitimate issues. As a result, the property's legal review ought to be delegated to a real estate law specialist.
• During the legal inspection of the property, the lawyer checks the legality and regularity of the seller's and his licensors' title deeds, as well as whether or not they are correctly transcribed, contain any heresy, have been paid for, and so on.
• In addition, the property's encumbrances (mortgage or pre-mortgage note) and easements (works of passage, housing, usufruct, etc.) are checked for validity. putting the property in danger. In addition, any contract that is already in place is checked, as are the terms of the horizontal ownership contract, the possibility of apartment building regulations, their potential modifications, and the agreed-upon uses of the horizontal properties that are included in them. If the property is located in an area where a land office operates, the control described above takes place at the competent mortgage office as well as any competent land office that is currently in operation.

Process followed until the final contracts of sale are signed.
The buyer should inform the seller of the notary of his choice after the property has been successfully inspected and the issue of the down payment has been resolved. This notary will be in charge of drafting the contract of sale and taking care of any necessary issues, naturally with the help of the seller's attorney.

In this specific situation, the public accountant will ask the gatherings (primarily the merchant) to give him a progression of records that are essential for the marking of the agreement, (for example, a designer's declaration that there are no anomalies in the property, TAP endorsement, charge mindfulness, concentrate of cadastral diagram, and so on.). The notary must prepare the transfer tax declaration, which is sent to the tax office along with a sheet for calculating the objective value of the property, after ensuring that he has all the necessary documents for signing the contracts and verifying their accuracy and completeness. The property move charge adds up to 3% of the market or any higher goal worth of the property and should be paid once by the purchaser before the marking of the last agreements, for which confirmation of installment should be introduced and appended to the agreement.

The final purchase and sale contract is signed in front of the Notary after the aforementioned bureaucratic steps have been completed. It should then be sent to the appropriate Mortgage Office or registered with the appropriate Land Office if one is located nearby. The purchaser is responsible for covering the entire cost of the transfer or registration. The final step in completing the sale and handing over ownership of the property to the buyer is the transfer of the contract.