When must the tenant pay the rental income tax instead of the landlord, in cases there is such a tax?
When an enterprise or a self-employed person is the one paying the rental income (the tenant) the amount of the tax is withheld and remitted by the payer of the rental income (the tenant) at the time of its payment to the landlord.
Does the landlord have the right to visit their property without notice?
Most laws state that the landlord doesn’t have the right to visit the property he or she is renting out without notice as they are obliged to ensure the undisturbed use of the property by the tenant. Still, the owner has the right to visit the property with due notice which can also be included in the rental agreement.
When the apartment needs repair works who must pay for them – the landlord or the tenant?
Repair works which are done to repair damages from the everyday use of the property must be paid for by the tenant, while more major repairs must be paid for by the landlord unless the tenant caused the damage intentionally which then means the tenant must pay for the repairs.
Is it important to know in which year the property was built?
In case the building was constructed without a building permit and it doesn’t have building documentation, knowing the year it was built in is important so that it can be established whether it is tolerable or not.
This happens with the issuing of Certificate of Tolerance. It is issued mainly for old properties. For deals with such properties only such a certificate is needed as it can be issued by the respective municipality as per the location of the property. Our civil engineer in association with our legal department can take care of all kinds of property certificates you may need.
What happens when I buy a property that has a mortgage?
If at the moment of the signing of the preliminary agreement the property has a mortgage then the seller must be obliged to expunge the mortgage at the moment of the final transfer of the property ownership and the new owner to receive a property without encumbrances.
How and when do I pay for a property in cash and by bank transfer?
There are no legal requirements about when you should pay for the property – the price can be paid in advance, before the deal is certified by a notary public, on the day of the transfer of ownership or in installments.
How can I check the validity of the seller’s notary deed?
If there is any doubt about the validity of the notary deed of a property it can be checked at the respective Registry Office (Property Register) with the Registry Agency.
A check can also be made with the notary public whose name is on the notary deed and who certified the deal but the most reliable check is at the Registry Office (Property Register).
How do we check the encumbrances on the property, as well as the due taxes and other aspects?
Ιnformation about the encumbrances on the property (mortgages, third parties’ rights, legal claims, etc.) can be checked by the relevant Registry Office (Property Register) at the Registry Agency as per the location of the property.
The due taxes can be checked in the respective Local Taxes and Fees Office with the respective municipality as per the location of the property. One must get a Certificate for Tax Evaluation of the property or a Certificate of Municipal Liabilities (for liabilities of the seller for local taxes and fees to the respective municipality and for other properties).
In the respective territorial branch of the National Revenue Agency one can check the seller’s liabilities to the state budget (taxes, obligatory social security contributions, etc.) by requiring a Certificate of Tax Liabilities.
Apart from the preliminary checks of the property and the lack or presence of encumbrances and liabilities it would be best if one gets an Encumbrance Certificate as of the day when the deals is certified in front of a notary public, as it will show all records and entries that might lead to an eviction of the buyer.
What are the regulations for the import and export of currency by foreigners?
Travelers entering or leaving the EU and carrying €10.000 or more in cash (or its equivalent in other currencies or easily convertible assets such as cheques drawn on a third party) have to make a declaration to the customs authorities.
This follows the entry into force of a new European Regulation aimed at fighting money laundering, and the financing of terrorism. Customs authorities are empowered under the Regulation to undertake controls on individuals, their baggage and their means of transport and detain cash that has not been declared.
Travelers must be aware that all Member States apply penalties in the event of failure to comply with the obligation to declare as laid down in the Regulations.
If our property is only going to be occupied for about two months of the year, do we really need to secure it for the rest of the time?
Yes, we recommend you have special alarm system and private property protection which costs around 15 – 30 Euros per month in most cases.
There are some very professional companies we cooperate with, which provide such a service.
What about telephones?
It is usually easy to get a new mobile phone number or a landline number since you will be living in the country, with no serious restrictions.
Can we use our credit and debit cards in other countries?
Yes, but have in mind that it would be better to open a new bank account and get new credit and debit cards, since you won’t have to pay extra fees in your transactions or losing money by exchange rates.
In general most other transactions are carried out in cash but most of the shops accept any kind of card for payments.
Driving a car as a foreigner in a country. What is the procedure?
It is quite easy to drive a car in a foreign country, but in many cases there are strict laws which will are obligatory for all citizens (for example you may need local licence plates). No exceptions.
There are few annual fees that must be paid every year to drive a car in most countries, such as insurance fees etc. In any case, we will help you file all the necessary paperwork and be insured.
Do we need a visa?
Each country has different laws and policies regarding foreigners living in their territories, so we would have to discuss your situation based on who you are, what you will be doing in the country, which country you are interested in investing on properties and also to live in and many other factors.
Our lawyers and immigration experts will guide you through the whole process.
What about our company tax returns?
Every year you have to submit your annual tax return, in most countries. We have accountants that can do this for you. Our after sales package will include this service as one of the options available to you.
What if we want to have renovations carried out on our property?
No problem, we can recommend and manage a complete range of professional renovation services to the budget that you set.
Will we get ownership documents for the property?
Yes, you will have title deeds in your name, or if you are buying through a company, in your company name.
Is it possible to buy without coming to the place where the property is located?
Yes, this is possible, but not always so straight forward. You will have to get documents signed and stamped in many cases.
In some occasions, you may legally authorize us or a person you trust to do anything that should be done by you. It is often easier and quicker to come to the property’s location for a day or for a couple of days and sort everything out here.
Plus, you will be able to see the property and know more details about it.
How do we pay the balance for the completion of the deal?
You will be able to transfer the balance for the purchase of the property to our company bank account, covering all the bank charges, so that we can receive the exact total amount. All the terms and conditions for the installments, when and where to pay will be described in the mediation contract you will have signed with GLOBY ESTATE.
Also, your Sales Manager will be constantly in touch with you to lead you through the purchase process. Bank transfer or cash payments are the most common ways for payment of balances for property purchases. However, we can discuss other options upon your request.
Of course, our agents can contact your accountant or lawyer for successfully completing all the legal procedures regarding our real estate deal.
Can we pay a deposit by credit card or travelers’ cheques?
It is advised that you pay in cash or by wire transfer to our bank account, to avoid high banking fees and delays in the payments. All subsequent fees are a responsibility of the buyer.
Normal cheques take about 4 weeks to clear and they are not suitable for payments, especially for placing a deposit.
Our company is open to all kinds of payment options, either online or by bank institutions.
How shall we start our property search?
Have a look at the properties on our websites and when you decide which properties you like, send us an email or call us with any questions you might have about the properties using the contact details on every listing.
For viewings you need to arrange a trip to the place where the property and meet us for a viewing or we can arrange an Online Viewing. We will then set the necessary appointments.
You can also ask us any other questions that you have, we’re here to help!
What are the fees and commissions charged by the GLOBY ESTATE Group?
Each of our companies and subsidiaries has it’s own working model, so fees and commissions are different.
You will have to choose each company you find a property you are interested in and see what are it’s fees and procedures.
Fees based on commissions, successful sales completion, month or yearly fees and many other options are available, depending on the service we provide.
How do we see the properties that we are interested in?
If you tell us in advance when you will be coming the place where the property is located, we can arrange viewings to fit your schedule (even a tight one!). We don’t charge a live (in person) viewing fee.
We can also arrange your accommodation and meet you at the airport. In case we arrange a Skype or other Online Viewing, you can see multiple properties at once and get a discount. This saves you a lot of money and effort from traveling long distances.
What do we need to bring with us on our first visit?
Obviously you will need your passport or Identification Card, but also some money if you want to place a deposit immediately. (Please pay attention to money limitations when traveling between certain countries).
We would suggest you bring some comfortable shoes and wear comfortable clothes, if you are looking at properties in the country, as some areas be less accessible or have more extreme weather conditions compared to others.
How do we reserve a property?
You will need to pay a deposit (normally a minimun of 10% of the price) which is non refundable.
This ensures that the property is removed from the market and not sold to anyone else.
There are other options to reserve a property as well, which may fit your needs and you can discuss further with our real estate agents.