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Buying property in any foreign country can be a nightmare and there are many frequently asked questions about buying property in Greece. This list of questions and answers has been compiled to give you a starting pointing and aims to help you with the necessary research that is involved when buying a property in Greece,

What types of properties are available to buy in Greece?

There are many different types of properties available to buy in Greece: Cottages, villas, village houses, town houses and apartments. There are old properties to renovate or you can buy a plot of land and design and build a new home. There is usually something for everyone’s tastes and budget.

Can I buy a property in the Peloponnese?

Yes, there are no any restrictions for foreigners wishing to buy property in the Peloponnese.

Are foreigners welcome in Greece?

Yes, The Greek people are among the friendliest in Europe. There is now a large number of citizens from all nationalities living in Greece.

Do I have to have my finance in place before my inspection visit?

It’s advisable to have your finance in place before your inspection visit. If you see your dream home you will be able to purchase it without any delays. This way you will not miss out.

I’ve found the house I wish to purchase in Greece – now what happens?

Choose an English-speaking lawyer. The British Consul’s provide lists of recommended lawyers. Tel: 0030 210 369 2333.

You can sign a proxy in order that your lawyer can represent you; obtain your tax number (AFM). You need this to complete your purchase; check title deeds and ensure there are no problems; and to sign the contract on your behalf. In this way the property can be signed over to you and it’s not necessary for you to make extra visits. Your lawyer will also deal with the Public Notary on your behalf. The Public Notary is responsible for drawing up your contracts, witnessing the signatures / payments and registering the new ownership of your property. When this process is complete the lawyer will provide you with a copy of the deeds. The original is placed with the land registry department.

All transactions are in Euros. You will need to set up a Greek bank account to pay for your legal advice, transfer money and pay bills. There are foreign exchange brokers that can transfer large amounts to Greece according to the business rate. Payment of utility bills can be set up very easily by direct debit via the bank, and money can be transferred online. The Leki Bank is connected to the HSBC and accounts may be open in the UK.

The ‘PINK SLIP’ for wire transfers of money from abroad. If the buyer cannot justify the amount of money they have spent, the Greek tax authorities will assign it as unreported income and the buyer will be assessed for income tax.

Do I have to pay a deposit?

Yes, it is normal to pay a deposit of 10 / 20 % of the agreed purchase price. This seals the contact between the seller and buyer.

If the seller pulls out (which is unlikely) he must return the money plus the same amount again. If the buyer pulls out the deposit is forfeit. However, if previously known problems are revealed the deposit will automatically be return.

How long does the purchase process take?

Property purchase is generally completed in a short period. It can take as little as 48 hour to 2 weeks. However, if the seller has not collected all the necessary documents for the transaction, it can take up to 3 months.

Will I have to pay tax on the property that I purchase?

Yes. The custom in Greece is to keep down the declared value of the property to reduce legal fees and property taxes. The one time purchase tax (which is the Greek equivalent of our stamp duty) is calculated at between 9% and 11% of the assessed property value for plots of land. For apartments and houses the charge is between 11% and 13%. The Inland Revenue will base their assessment on special tables issued by the Greek Ministry of Finance. The tables help determine the value of the property according to its merits, i.e. location, nature, quality of construction etc. The assessed value will usually amount to around two thirds of the true purchase price.

What other costs can I expect?

Other costs include the following:

Union fees: 1% of the taxable price of the property up to EUR44,000 and then 0.5% on the remaining taxable property price.

Lawyer’s fees: Lawyers charge between 1% and 2% of the assessed value as recorded on the contract of sale.

Public Notary fees and registration charge: The Notary Public fee is between 1% and 2% of the assessed property value

To the above cost of purchasing your property you should make an allowance for either buying furniture or appliances in Greece or transporting your furniture and household effects from the UK.

Do I have to pay a fee for finding a property?

Yes, commission is usually paid by the seller and the buyer in Greece. Fees and are normally 2% – 5%. After sales services are often available and will also incur an additional charge. Fees are generally fixed in accordance to the services that you require.

If something happens to me will the property automatically go to my next of kin?

Yes it will go to next of kin. Death duties are payable on property up to £100,000. This can be avoided if the property is made a “Parental Gift” to children. If there are no children a will should be made.

Now, enjoy your new home in Greece, you deserve it!

Please Note
This information is provided in good faith and believed to be correct at the time of writing. However, its accuracy cannot be guaranteed.

Claire May is a knowledgeable author of articles regarding property in Greece and Messinia. Her articles aim to Make buying and selling property in Greece easy and helps buyers with their research and assist them through the unfamiliar Greek property purchasing procedures. Claire has also designed a website to provide readers with information about buying property in Greece

Author: Claire May
Article Source: EzineArticles.com
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There are many ways to build your fortune in the world today. One of the most common, and often the easiest to begin, even for the common entrepreneur, is purchasing investment property . In fact, you will often hear many rags to riches stories about the unemployed worker down on his luck that became a millionaire by investing in the realty market in one form or another.

There are many different types of methods for investing in this risky yet profitable venue. Realty is a great line of attack for anyone who is willing to take the time to learn the risks, options, and possible rewards for this type of investment process. Some of the more common ways of obtaining investment property are following.

The first way is called the Pre-construction investment. This is a highly speculative and very risky sort of investment that booms or busts with the times. The risks involved in this type of investment should not cover up the fact that many millionaires have been fashioned through this type of investing. And many more will be created in the future. Pre-construction investing is a type of investment where the investor purchases options on the property before any ground is broken for building. This type is more popular in high demand areas that experience housing shortages. These shortages often cause prices to rise quickly and the units are quickly sold before they are completed or any actual money changes hands.

The second type of purchasing investment property is through rental property. Property normally gains value over time. One problem investors have is the ability to hold onto and afford to maintain multiple properties over an indefinite period of time while waiting for house values to rise. One way to overcome this is by renting the properties to tenants while the property values are increasing. The tenant covers the cost of the note on the property making the venture less risky. There will still be the risks of dealing with tenants, such as property damage, failure to pay the rent, and possible legal problems of poor tenants.

Another option is the lease options. There are few people who never experience financial rough spots. Often these people are denied traditional home loans because of their poor management of debts in the past. For this reason they may be willing to pay for the opportunity of rebuilding their credit while working towards home ownership. For these people, a lease option presents a workable and often valued solution. Those investors who are willing to take the risks often find the rewards are well worth those risks.

We have all heard the stories of the investors who make millions by flipping houses. This type of purchasing of investment property has grown tremendously in the last few years due to the popularity of home improvement and house flipping shows on television in the last several years. More and more people have decided to pursue this sort of investment hoping to create big profits in a short period of time and with a small investment. The problem, of course, is that it looks much easier on television than actually doing it. Add to that the fact many people have unrealistic expectations when it comes to costs and their abilities. There are plenty of risks involved with this type of investment too. Successful flippers however see potential for great profit in a relatively short amount of time.

The final type of investment property is the buy and hold. As mentioned above, realty normally gains value over time. Even buildings in total disrepair are worth something just for the land they sit on. Purchasing several houses or large lots of land and holding on to them for as long as necessary before selling can often lead to financial gains. The longer these properties are held the better, providing a greater opportunity for the value property to increase.

These are only some of the investment property opportunities that exist for those who are interested in investing in realty. Other options include commercial and development properties. Needless to say realty investing offers many opportunities to the confident investor.

Source : Property Management

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Author: Kamyar Shah
Article Source: EzineArticles.com
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Investment properties in Las Vegas are at a premium so it’s important that that you get the most value for your money. Where to invest becomes the big question plus what investment properties in Las Vegas are you after.

There are many types of investments that you can make and you will be impressed with the opportunities there are with investment properties in Las Vegas.

What type of financing you seek will depend on your investment properties. Interest rates and terms will vary based on your personal credit rating and the specific investment properties in Las Vegas you are considering purchasing.

There are many financial institutes in the area that will provide you with any financial needs even unconventional mortgages which offer term flexibility, repayment flexibility, and a host of other options that are better suited to unconventional investment properties in Las Vegas and other areas.

There are many different types of investment properties in Las Vegas. Start by deciding what type of investment it is right for you. Do you want to be a residential or commercial landlord? Do you want to invest in an operational property or a sleeper property? Will you be living in the area so that you can personally monitor your investment properties in Las Vegas?

There are several reasons to invest in investment properties in Las Vegas. Of course the main objective is generally to make money. But some investment properties in Las Vegas are purchased initially as a write off or as part of a conglomerate to help create write offs for the corporate body which own other investment properties in Las Vegas and the purpose is to make a profit in the future upon reselling.

And with the rapidly increasing values on investment properties in Las Vegas there are many newcomers to this market looking to hold for a short period of time and make a tidy profit with their only investment being time and patience.

Casino investments including investment properties in Las Vegas are a great way to earn instant profits. Of course if you aren’t familiar with a casino’s day to day operations you are going to be very dependent on the existing staff so make sure things are running smooth there.

Your investment properties in Las Vegas are going to make you a tidy profit no matter which method you choose. After Vegas has a reputation for making money.

Joel Teo writes on various financial topics including Investment Properties in Las Vegas. Learn more about Investment Properties in Las Vegas in our Real Estate Investment Resource Site today.

Copyright 2007 Joel Teo. All rights reserved. (You may publish this article in its entirety with the following author’s information with live links only.)

Author: Joel Teo
Article Source: EzineArticles.com
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There are many different types of property for sale in Oceanside. Some of these properties sell right away and others sit on the market for a long time. This might have something to do with which Oceanside Realtor the seller has chosen to represent them. A Realtor who has experience in selling the specific type of property that a seller is trying to sell might make the process a lot smoother. For example if a seller is trying to sell a multiple unit investment property, and the Realtor in Oceanside they are using deals mostly in land sales, they might not have the type of professional that is best for the job. Depending on what type of property is being sold a seller might want to evaluate the type of Realtor that they want working for them. Using a specialist who deals mostly in the type a property that their client is trying to sell could have many benefits for the seller.

Most Oceanside Realtors deal almost entirely with single family homes. These are single houses that are usually bought by a client who is looking to live in it. There are many Realtors in Oceanside who specialize in these types of sales. They are usually very knowledgeable in knowing about the different types of neighborhoods around the city and the selling features that will make the home stand out from the rest. They should know about the school districts that the home belongs to and how far of a commute it is to get to these schools. An Oceanside Realtor who specializes in single family homes should also be aware of the crime rate of the area and any other feature that will be important when selling the home. A single family home Realtor in Oceanside might be aware of certain facts and selling features about the property that others may not know about. These facts might help the property look a lot more appealing to a buyer and also might make the home sell a lot faster.

It seems like it makes the most difference in which Oceanside Realtor a seller uses when it comes to investment property. Investment property is usually consists of multiple unit property. There are many differences in selling multiple unit property and selling single family homes. The type of buyers looking to buy investment property are looking for selling features that are a lot different than in single family homes. An Oceanside Realtor who specializes in investment property should be able to determine the selling features that a buyer is looking for. They should also be educated in calculating CAP rates as well as other calculations that investment buyers are usually interested in.

A Realtor in Oceanside who specializes in investment property should be up to date with the rental market. This way the Oceanside Realtor will be able to determine the type of rents a buyer could expect to get if they decide to buy the property. This is very important because a lot of times an owner has had the property they are trying to sell for many years and if the units have been rented out to long time tenants, the rents that the property could produce might be a lot greater than the current rents that are being collected. An experienced Oceanside Realtor who deals in investment property should be able to help a seller get top dollar for their property without overpricing it where it sits on the market for a long time. The right Realtor in Oceanside could save a seller a lot of time and energy when putting their property on the market.

These are some of the types of properties that a seller might want to use a specialist for. If the seller just spends a little time in finding the right Oceanside Realtor to represent them it could pay of tremendously in the long run. With so many different Realtors to choose from it seems like a seller should be able to find the right Oceanside Realtor that specializes in the specific type of property they are selling. Finding the right Oceanside real estate agent might save a seller lots of frustration in the sale of their property. With an Oceanside Realtor who specializes in the type of property a seller is trying to sell, the seller could end up getting a lot more for their property and be able to sell it in a lot less time than if they used a different Oceanside Realtor.

The Eisendrath Team Inc. has over 30 years of experience in the Oceanside and north county San Diego areas. They have been top producing brokers for companies such as Prudential, Re/Max and Coldwell Banker. For all your real estate needs visit Oceanside Realtors.

Author: John E Daily
Article Source: EzineArticles.com
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A tool such as a mobile home mortgage calculator can prove to be very handy when it comes time to calculate how much your mobile home mortgage is going to cost you. With the help of a mobile home mortgage calculator you can in fact also understand the amount that the mortgage is going to cost you and it will also help you calculate how much to set aside each month to pay back the mortgage.

Analyze Your Exact Requirements

A mobile home mortgage calculator will help you to analyze your exact requirements in regard to the amount of mobile home mortgage and to see whether or not you can afford such a mortgage. This tool is also very useful whenever you need to determine an estimate of your overall cost of buying a mobile home and it can also provide many answers to different aspects of acquiring a mobile home mortgage.

The entire process of hunting for mobile home mortgages is an especially daunting one; more so, if it is your first purchase of a mobile home. Many factors work together and singly in determining the overall cost of your mobile home mortgage. You need to know how much to borrow and the calculations projected by mobile home mortgage calculators will prove to be very helpful for you to understand the minimum monthly payments at different interest rates.

In any case, if you were to calculate your mobile home mortgage cost manually you would end up wasting a lot of time and be too fatigued at the end of the whole process. As a matter of fact, there are many different types of mobile home mortgage calculators to choose from; some are very simple and will do simple calculations to show you whether it is better to rent or buy a mobile home.

Some mobile home mortgage calculators will do all the calculations necessary to help you calculate what amount of mortgage is affordable to you. It is up to you to decide which kind of mobile home mortgage calculator and here there is another option available as well including the online mobile home mortgage calculator.

Once you have found from the calculations provided by your mobile home mortgage calculator that you can afford a certain mobile home mortgage your next move would be to look for the right mobile home mortgage lender. It is advisable to steer clear of those lenders that charge you more than the market rate or who cannot provide proper referrals. It is always better to accept slightly steeper terms and deal with reputable lenders than risk dealing with shady or untrustworthy lenders.

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