New Century Homes

http://www.newcenturyhomes.gr








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Your Four Steps To Happiness

Step 1

Sales Confirmation Letter

Having decided to buy your new home in Crete you will be asked to leave a €1,000 reservation fee to secure your chosen property and you will receive a Sales Confirmation letter from New Century Homes outlining your house specifications, purchase price and agreed payments.

Stage Payments

Either:

  • 10% Deposit
  • When you have returned home your lawyer will inform you of the details of the account that has been opened for you, so that you can transfer the 10% Deposit from your home country. We will inform you of all monies received and you will be sent a reminder for the final stage payment.
  • 90% At Final Stage (Commencement Of Tiling The Property)
  • This money is required to finance the completion of your property. Completion is only 3-4 weeks away. All extras requested must be paid for at this stage. At this point your plot will be registered with the local Land Registry and titles will be signed for by your lawyer. At this time, by law, you legally own anything built on the land.


Or:

  • 10% Deposit
  • 30% Land Purchase
  • 30% 1st Construction
  • 30% 2nd Construction Less €1000 Retention
  • €1000 Handover Of Keys

Step 2

The next step will be to appoint a lawyer to act on your behalf.

The Lawyer

  • Your chosen lawyer (New Century Homes can provide you with a list of local lawyers experienced in property law) will explain the legal side of buying a property in Greece.
  • Your lawyer will arrange for you to visit a Public Notary (a Government appointed lawyer) where you will pay approximately €60 and complete the documents required. This will give your lawyer Power of Attorney (POA) to not only represent you in your purchase but also to legally sign for you in your absence any documents required to fulfil the property transaction. For clients requiring a Greek mortgage a separate POA is required in order for your lawyer to access the loan.
  • Your lawyer will then be able to open a local bank account for you (in joint names, if required) to allow you to transfer money from your home country to Crete to finance your purchase. Your lawyer will then be able to forward to the builder the stage payments when requested to do so.

Your lawyer, once given Power of Attorney, will obtain your local tax number for you (known as your "A-Fee-Mee" number). This number is required by law to enable you to purchase property in Greece and is essential for planning permission, connection to utilities, opening a Bank account and for owning a car, so make careful note of it as you will be asked for it when making any major purchase.

Lawyer's fees will be paid by New Century Homes and purchases taxes will be capped at 10% of the purchase price. This is a one off payment. You will pay no more than this.



Step 3

A specification sheet should be completed before you leave Crete; this is a breakdown of any extras that you would like to add to your new home, and also details your chosen kitchen and tile orders from local stockists for reference by New Century Homes during the build.

Step 4

If, like most people, you decide to pay in multiple stages, below is a breakdown of what each stage consists of:

10% Deposit

When you have returned home your lawyer will inform you of the details of the account that has been opened for you, so that you can transfer the 10% Deposit from your home country. New Century Homes will inform you of all monies received and you will be sent reminders for future stage payments, as required.

30% - Land Purchase

This stage payment is usually required within a few days of the Deposit being received. Depending on how you are transferring the money from your home country, it may prove more cost effective to transfer both amounts simultaneously. At this point your plot will be registered with the local Land Registry and titles will be signed for by your lawyer. At this time, by law, you legally own anything then built on the land.

30% - 1st Construction

This payment should be deposited into your Greek bank account by the date agreed on your sales confirmation letter. This will be requested from your lawyer to finance the initial stages of construction.

30% - 2nd Construction - less €1000 key money

This payment should be deposited into your Greek bank account by the date agreed on your sales confirmation letter. This payment finances the completion of your property construction. All extras requested must be paid for at this stage.

€1000 Final Payment

This final payment is required on completion of the property at the handover of keys. We will have fully checked your new home for 'snags' before you take delivery and we will walk you through the property to explain to you how everything works so that you can begin enjoying your new home in the sun.


© 2008 New Century Homes
Almerida Apokoronou - Chania, Crete, Greece - Telephone / Fax: +30 28250 83139