How to make an offer on a Greek property
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Written by Ellie Hanagan

30th May 2025

House with blue front door and pink flowers

Once you’ve found the perfect home in Greece, the next step is to make an offer – but how do you strike the right balance between being assertive and staying cautious in a foreign market? Here’s how to prepare, negotiate effectively and move forward with confidence to secure your new home abroad.

Making an offer on a property abroad comes with different rules, different expectations and a fair few potential pitfalls. In this guide, we walk you through exactly how to make an offer on a Greek property – from getting prepared before your viewing trip to securing a reservation and moving forward with your lawyer.

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Contents

Before you view: preparation is everything

Buying property in Greece is an exciting venture, but the groundwork begins long before the viewing trip. Get your finances in order first: speak to Smart Currency Exchange about holding funds ready for a deposit and line up a lawyer with local experience. If you’re taking out a mortgage, aim to get approval in principle before travelling.

If you’re buying as a couple or group, be united on your non-negotiables. Agreeing on your budget, must-haves and nice-to-haves ahead of time will save you stress – and ensure that negotiations with the seller aren’t delayed because you’re still debating among yourselves.

Research the local property market

You’ll be in a stronger position if you know what a fair price looks like for your chosen area. While your estate agent will have insights, they’re not a neutral source – so don’t rely on them alone. Look at:

  • Price trends from the Hellenic Property Federation (POMIDA)
  • Market reports via Eurostat and Greek government sources
  • Online portals to compare local listings
  • Recent sales records from the Greek Land Registry and Cadastre

Also consider how long the property has been on the market for, whether the seller is motivated to move quickly and any visible flaws or renovation needs. These factors could support a lower offer.

Making your offer: the negotiation stage

You’ll usually submit your offer through the estate agent. Most buyers start with an offer below the asking price – typically 5-10% under – but in a seller’s market or for a property you’re deeply invested in, it may be worth offering the full amount.

In contrast, a buyer’s market or an urgent seller might allow for a more ambitious offer, potentially 15-20% below asking. For off-plan properties, discounts are rarer, though developers may offer upgrades on fixtures and fittings instead, especially towards the end of a build.

Clearly state any contingencies with your offer. For example, if you need mortgage approval or if your offer is conditional on securing planning permission, this should be documented from the outset.

Connect with a Greek estate agent

What happens once your offer is accepted?

Estate agent covering mouthpiece of phone while delivering news to happy couple

Your estate agent will usually submit your offer on your behalf

Once the seller accepts, the property is typically taken off the market – but only temporarily. You may be asked to sign a reservation agreement and pay a deposit (usually between €3,000 and €10,000). Always consult your lawyer before doing either. Make sure you understand:

  • Whether the deposit is refundable and under what conditions
  • Who holds the funds – ideally, this should be a neutral third party

The property is generally reserved for just two weeks. During this time, your lawyer should draft a formal offer letter including the agreed price, conditions of sale and expected timeline. This becomes the basis for the Sales Agreement, which is signed by both parties and moves the process into the next legal phase.

Offer process at a glance

Stage Action Notes
Preparation Budget, mortgage in principle, lawyer engaged Ensures readiness to negotiate and commit
Market research Compare prices, review recent sales Use data to justify your offer
Submit offer Via estate agent with contingencies outlined 5-10% under asking is common
Reservation Sign agreement, pay deposit Only proceed after legal review
Formalise Draft Sales Agreement via lawyer Includes price, conditions and timeline

 

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