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 in Greece 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.
Making an offer on a Greek property means submitting a price and terms through the estate agent, usually below the asking figure. It applies to any foreign buyer negotiating a resale. The key caveat: an accepted offer isn’t legally binding – only the notarial deed transfers ownership. Involve your lawyer before signing anything or paying a deposit.
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Contents
Before making an offer on a Greek property – 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.
If you’re not an EU national, check early whether your chosen property falls within a border or island region subject to additional clearance – certain areas, including parts of the Dodecanese and North Aegean, require approval from the Ministry of National Defence before a non-EU buyer can complete. Your lawyer can confirm whether this applies and how long it typically adds to the timeline.
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
- Whether the plot appears on the national forest map (Δασικοί Χάρτες) – land classified as forest carries significant restrictions on building and transfer, so this is worth checking for rural or coastal properties in particular
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.
Speak to a Greece property expert
Before you send any money
Once a deposit or reservation payment is on the table, a few checks are worth doing first:
- Confirm you have (or have applied for) a Greek tax number, known as an AFM – you’ll need this to buy property and it’s free to get
- Check whether you need a Greek bank account; transfer taxes and notary fees are usually paid from a local account
- Ask your lawyer to confirm the title is clear of mortgages, liens or planning irregularities before any money becomes non-refundable
- Use a regulated currency specialist for the transfer, and make sure funds are held in a safeguarded account until they’re needed
What happens once your offer is accepted?
Once the seller accepts, the property is typically taken off the market – but only temporarily.
Ask early whether the property has a valid Electronic Building Identity (Ηλεκτρονική Ταυτότητα Κτιρίου) – a digital file, prepared by a registered engineer, confirming the building matches its official permits and has no unresolved unauthorised work. It’s been a legal requirement for every property transfer since 2021, and it’s the single most common cause of delay in Greek purchases, particularly on older properties. If your offer is accepted, ask your lawyer to have this checked, or make your offer conditional on it, before you go any further.
You may be asked to sign a reservation agreement and pay a deposit. Amounts vary widely – some agents ask for a flat fee of €3,000 to €10,000, others a percentage of the price, so treat any figure quoted to you as a starting point for negotiation rather than a fixed rule. Always consult your lawyer before signing anything or paying anything. Make sure you understand:
- Whether the deposit is refundable and under what conditions
- Who holds the funds – Greece has no standard escrow system, so ask your lawyer to hold the deposit in a separate client account rather than paying it directly to the agent or seller
The property is generally reserved for around two to four weeks. During this time, your lawyer should draft a formal offer letter including the agreed price, conditions of sale and expected timeline.
It’s worth understanding what is and isn’t binding at this stage. Under Greek law, neither an accepted offer nor a private preliminary agreement forces a sale through – only the final notarial deed, signed before a notary and registered at the Land Registry or Cadastre, legally transfers ownership. A private agreement mainly protects your deposit: if you pull out, you typically lose it; if the seller pulls out, they’re usually required to return double. For stronger protection, some buyers opt for a notarial preliminary agreement, which your lawyer can advise on.
Offer process at a glance
Overall, most straightforward purchases take around six to 12 weeks from an accepted offer to completion, though this can run longer where title checks are complex or a golden visa application is involved.
| 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 |
Frequently asked questions
Keep it clear, confident and conditional. State your price, explain why (using comparable listings, time on market or visible renovation needs) and add contingencies such as mortgage approval, legal checks or planning permission. Give a timeframe for acceptance and request that the listing is withdrawn once a reservation is signed. Proof of funds or mortgage approval-in-principle will strengthen your position.
You can make an offer without one, but don’t sign a reservation agreement or pay any deposit until your Greek property lawyer has reviewed the terms. A solicitor ensures that the deposit is properly held, checks whether it’s refundable and protects your conditions before you move on to the Sales Agreement and final completion.
In Greece, 5-10% below the asking price is a sensible starting point for resales, but it depends on demand, how long the property has been listed and its condition. If competition is fierce, a full-price offer may be the only way forward. Where urgent sellers or major works are involved, discounts of 15-20% can be justified with evidence. For new-build or off-plan homes, reductions are less likely, though you may be able to negotiate extras or payment flexibility.
No. In Greece, neither an accepted offer nor a private agreement is enough to force a sale through. Ownership only transfers once a notarial deed is signed before a notary and registered at the Land Registry or Cadastre. A signed agreement mainly determines what happens to your deposit if either side pulls out.
Before you sign a reservation agreement or pay any deposit, not after. Your lawyer will check the title, confirm there are no mortgages or planning issues, and review the terms of any agreement before you commit any money.
Your lawyer carries out due diligence first – checking ownership records, any debts or encumbrances on the property, planning permissions and, where relevant, whether the building is legally constructed. Only once this is done should you move to a preliminary agreement or deposit.
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