Buying property in Greece has always been a complicated process, but now with the introduction of e-auctions, it has become simpler. E-auctions is an online auction platform that allows buyers to purchase properties in Greece without the hassle of traditional property buying. This guide will provide you with a brief overview of the process, including information on the types of properties available, the bidding process, and how to make sure you get the best deal.
Types of properties available in Greece
You can purchase through e-Auctions a variety of different types of properties, including: residential properties (apartments, houses, and villas), commercial properties (shops, warehouses, and office building) and land plots in all regions of Greece. If you are only looking for a specific type of property, then you can filter your search to find only the properties you want. This is helpful if you want to narrow down your search to a specific region or type of property.
The bidding process
The e-auction process is quite simple. You can sign in without a Greek Tax ID. If you have a foreign Tax ID, you choose an auction that you would like to participate in and then enter your details. In order to complete your registration, you must attach the documents that certify the validity of the information you have entered. You are then informed by email about your registration approval to complete the activation process. To apply you will need to login to the system using the input details you set up during your registration. Once you have chosen the auction you want, you must accept the terms of use and then submit your application.
After the Auction Officer checks the documentation, you will be informed by email about the status of your application. Once you’ve successfully passed all the previous steps, the auction will follow. In order to access the Auction Acceptance Screen, you need to confirm an additional security code through the mobile phone you have specified when registering. After completing the online auction, you cannot submit new bids and the ranking shown in the screen is the final one.
After the bidding procedure expires and in accordance with the applicable time limits as applicable, the Auction Officer shall draw up the award report. As a bidder, you can contact the Auction Officer to get a copy of the award report. If you are the successful bidder, you are informed by the Auction Officer of the procedure to be followed in order to pay the auction as well as the fee for the service. If you are not the successful bidder, you are informed by the Auction Officer of the refund procedure for the participation guarantee you have deposited.
Tips for getting the best deal
The e-auction system is designed to be fair and transparent, but there are still ways you can get the best deal. Start early – The earlier you start, the more properties you can bid on. The auction process can take a long time, so it’s important to keep an eye on the calendar. Check when the auction starts and make sure you have enough time to bid on the properties you want. Be prepared – Before you start bidding, you should do some research on the properties you want to bid on. A legal survey on the property could save you money and time. Keep an eye on the auction – Make sure you pay attention to the progress of the auction. If you’re not careful, you could miss out on a property. Stay focused – It’s important to have a plan and stay focused on what you want. If you let your emotions get the best of you, you could end up paying too much for a property.
The importance of legal advice
You should always hire a lawyer to ensure that you stay within the law and avoid any complications during the transaction. The legal services of a lawyer will vary depending on the city you live in and the lawyer you choose. A lawyer will provide you with valuable insight into the process and help you with the appropriate advice to make the best choice.
The advisory support of a lawyer throughout the entire process of the online auction is extremely important to deal with all the issues that are expected to arise during the declaration of participation in a specific auction, during the submission of the offers and also after the award of the property. During the submission of the application for participation, the lawyer is designated as the counter party, i.e. as the authorized contact person of the prospective bidder.
It is also critical to research of any legal proceedings that may be pending and affect the validity of the auction (e.g. checking for any court opposition to the court payment order).
Risks and considerations
The e-auction process is designed to be as safe and fair as possible, but there are still some risks you should be aware of. You might miss out on the property – When you place a bid, you never know if someone else will come in and place a higher bid at the last minute. You could end up with a property you don’t want – While the auction platform will help you select the property you want and will try to match you with a property that suits your needs, you might end up with a property that doesn’t suit you at all. The most important thing is to stay focused and start early. You should know what type of property you want, and you should know what you’re willing to pay for it. If you stay focused on your goals, you will be much more likely to end up with a great property.
Conclusion
Buying property through an e-auction is a quick and easy process that can save you a lot of time and effort. However, you can only benefit from this process if you start early, come prepared and know what to expect.
Law Office Stathaki can help you navigate this process with professional and to-the-point advice. Contact us today here.
LEGAL DISCLAIMER: The information contained in this blog has been carefully researched, but does not constitute and should not be construed as legal advice on any particular matter. Consequently, we bear no responsibility towards the readers of this in case of use of this information in their legal matters. Readers should seek appropriate legal counsel for any legal matter they encounter. All rights reserved.
