REAL ESTATE DUE DILIGENCE

Real estate due diligence in Greece involves a comprehensive evaluation of various aspects of a property to ensure that there are no legal, financial, or physical issues that could affect its value or the buyer's ability to use the property as intended. Key elements typically included in the due diligence process are:

Legal

Title Search: Verify ownership and ensure the seller has a clear and undisputed title to the property.
Encumbrances and Liens: Check for any mortgages, liens, easements, or other encumbrances that could impact the property's value or transferability.
Zoning and Land Use Regulations: Confirm that the property complies with local zoning laws and land use regulations.
Building Permits and Licenses: Ensure all necessary permits and licenses for construction, renovation, or current use are in place and valid.
Legal Disputes: Identify any ongoing or potential legal disputes involving the property.

Financial

Taxes and Utilities: Verify that all property taxes and utility bills are current, and check for any outstanding debts, including those owed to state insurance agencies.
Financial Performance (if applicable): Review income and expense statements, rent rolls, and lease agreements to assess the financial viability of the property.

Technical

Physical Inspection: Conduct a thorough inspection of the property’s condition, including the structure, roof, plumbing, electrical systems, and other critical components.
Environmental Assessment: Check for potential environmental risks, such as soil contamination or hazardous materials.
Property Boundaries and Survey: Verify the property’s boundaries with a professional survey to ensure there are no discrepancies.

Regulatory Compliance

Compliance with Local Laws: Ensure the property meets all relevant laws, regulations, and codes, including building regulations, health standards, and safety requirements.