News

Less expenses for the purchase of properties because lawyers are not obliged by law to be present at the signing of contracts in Greece

According to the law which passed №4093/12.11.20 the participation of lawyers is not obliged any more for both sides (seller and buyer) for the purchase and sales of properties in Greece.

For purchase of properties the lawyer is obliged to attend the signing of contract when the amount is more than 80 000 euro and has to attach all legal documents from the investigation at the registration office to the contract.

For parental deed of gift or exchange of real estate properties the lawyers are not obliged to sign contracts for either sides.

Also from 01.01.2014 the assistance of the lawyer for the buyers will not be obliged by law to attend the contract no matter what the amount is.

Also according to the new law the fee for lawyers will be determined by the agreement of both parties, and will not have a fixed price as before.

Before, the lawers’ fee was calculated according to the price of the property:

For properties up to 44 020 euro – 1%

For properties from 44020 euro up to 1407351 euro – 0,5%

For properties from 1407351 euro up to 2934703 euro – 0,4%.

Implementation of this law will cause the general reduction of lawyers’ fees and will make them more negotiable and affordable as a result.