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Buying property without a lawyer: why the bank’s lawyer is not enough

Greek law does not oblige the parties to a property sale to have a lawyer. It is nonetheless sensible for a purchase always to be handled responsibly, through a lawyer.

“The bank already has a lawyer”

When the purchase is financed by a loan, the bank appoints its own lawyer, and your accountant may suggest another. That review does not cover you: each side reviews the contract from its own position and covers different risks. The bank protects the security for its loan, not your interests as buyer.

What your own lawyer checks

  • Legal due diligence on the property and its title
  • Remedying legal defects before signing
  • Negotiating the terms
  • Coordinating with the notary, engineer and accountant

You need your own lawyer for your own side. This article is informational and is not legal advice on a specific case.