Transferring proceeds of villa sale

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Barbary Coaster
Posts: 195
Joined: Fri May 25, 2007 9:14 pm
Location: Near Adele

Re: Transferring proceeds of villa sale

Postby Barbary Coaster » Sat Oct 03, 2015 3:09 pm

Just to confirm that we have now completed the sale of a property in Crete, the payment was transferred direct from a Dutch bank account to a UK bank account, and agreed by the Lawyer, Notary and Tax Authority.

Bob
Despite the high cost of living it remains popular

Al
Posts: 308
Joined: Mon Aug 02, 2010 7:26 pm
Location: Kalives

Re: Transferring proceeds of villa sale

Postby Al » Sat Oct 03, 2015 11:33 pm

We sold a house four years ago and the bulk of the money was transferred directly from France to our account in the UK. We are in the process of selling another house here and the following might be informative:
1. Moneys will be transferred directly from Norway to the UK. This is normal according to our accountant lawyer and agent.
2. Our Greek mortgage will be paid directly from Norway. It is currently illegal to pay a Greek mortgage from a Greek bank account.
3. We have been advised that as little money as possible should be paid into Greece. Once it's in it can't be paid out to another country.
Hope these things are helpful.

Kilkis
Posts: 12523
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: Transferring proceeds of villa sale

Postby Kilkis » Sun Oct 04, 2015 7:56 am

Al wrote:...It is currently illegal to pay a Greek mortgage from a Greek bank account...


I presume that should read "It is currently illegal for a foreign national to pay a Greek mortgage from a Greek bank account" or possibly "for someone who is not tax resident"? If not, then I can understand why the Greek banks have so many non-performing loans.

Warwick

Al
Posts: 308
Joined: Mon Aug 02, 2010 7:26 pm
Location: Kalives

Re: Transferring proceeds of villa sale

Postby Al » Sun Oct 04, 2015 8:51 am

To be honest I don't really know. The young man at the bank seemed to be saying that a mortgage couldn't be paid from a Greek bank full stop. However your analysis makes more sense.


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