Frequently Asked Questions

How do I register?

You can click to register now and follow the instructions. You will be asked to provide identification details and also a telephone number and email. Please ensure these are correct, as we may need to contact you.

Why should I register?

You will need to register to create your personal account on properties4sale.gr and to place a bid in the auction. In addition registered users receive notifications on upcoming auctions.

Shall I register through an agent?

Real estate agents cooperating with properties4sale.gr may invite interested clients to register. You may authorise an agent cooperating with properties4sale.gr to initiate your registration by providing him your registration details. We will then send you a message on the email address you provided to your agent, to confirm your registration. Your registration will only be completed following your confirmation.

Agents who register with properties4sale.gr have agreed not to charge a commission to their clients. Being registered by an agent does not impact your chances of winning an auction or the price you will pay to Piraeus Bank.

I have registered but cannot log in to my account?

To complete your registration you need to confirm your email address by following the instructions on the email we will sent you to that address. If you have not received the email confirming your address please contact us.

Who owns the properties?

All the properties are owned by Piraeus Bank. A dedicated team in the Bank has checked the properties for sale in order to prepare a smooth and quick purchase process.

How do I view a property?

You can view a property during the "open day" shown by clicking "View property" on each property page. You do not need an appointment to visit the property during the open day.

When do I perform due diligence on the property? Can I perform due diligence after the auction?

You should review the documents provided on each property page and visit the property prior to the auction, as the properties are sold on a "as is" basis. You should also review the draft of the Pre-sale Agreement you will be asked to sign if your bid is successful.

For any clarification on the information provided on properties4sale.gr please contact us.

Interested buyers are encouraged prior to deciding to purchase a property or participate in an auction to read carefully all the information provided on properties4sale.gr and to seek the advice of specialised real estate advisers.

A dedicated team in the Bank has performed the appropriate checks to prepare the properties for a smooth and quick purchase process. If your bid is successful your lawyer / solicitor will perform the necessary additional checks to complete the purchase.

Some properties are not completed or require refurbishment. Who will pay the costs?

The properties are sold on as is basis. Any costs associated with completing construction, refurbishment, repairs etc. will be the sole responsibility of the purchaser.

I would like to negotiate the terms of the Presale Contract. Is this possible?

It is not possible to change the terms of the Presale Agreement. Bidders are strongly encouraged to read the draft Presale Agreement available for each property, noting in particular the deposit required, requesting the assistance of a lawyer or notary. If your bid is successful, you will be invited to sign the Presale Agreement and pay the deposit within 3 business days of your offer being accepted.

Your lawyer or notary will be able to check the property titles and all relevant documents after the signing of the Presale Agreement. The Bank has taken care to prepare all necessary documents to prepare a smooth and quick purchase process.

Can I Buy Now, before the auction?

Properties will be offered for sale prior to the start of the auction for a fixed price. If you have registered, click on the Buy Now option to buy the property you are interested in at the price indicated. This price is non-negotiable.

We will contact you promptly after your offer to Buy Now, and invite you to sign the Presale Agreement a draft of which is available on the property page, and request payment of the deposit. Only after the signing of the Presale Agreement will we remove the property from the auction.

What happens when there is more than one Buy Now offer?

If there are more Buy Now offers, during the 3 business days allowed for a bidder to pay the deposit, a strict priority will be kept based on the date & time each Buy Now offer was submitted.

The property has an UNDER OFFER banner. What does that mean?

It means that a buyer has signed the presale agreement and paid the deposit on a Buy Now offer or after winning the auction. Therefore the property is no longer available.

How do I bid on a property during the auction?

You will need to register before the auction, and log in to your account to view a property and review the information provided, including the Presale Agreement.

After you have viewed the property you can apply to bid by clicking on the "Apply to bid" button which appears on the property page. If you are interested on more than one property, you will need to apply to bid separately for each one. You should apply at least a week before the auction starts so that you can be approved on time for the auction.

After being approved for the auction and the auction starts, you can place a bid by selecting a price and clicking on the Bid button on the page of the property you want to buy. Your bid needs to exceed the Current Bid by at least the amount of the indicated Bid increment.

Bidders must have secured the funds required for the purchase of the property and have the loan approved if they have applied for one prior to bidding on a property. They should be prepared to conclude the purchase, and thus pay the purchase price, as soon as one week after being awarded the property in the auction. Moreover they should have own funds to pay the deposit described in the Presale Agreement, which will need to be paid with 3 business days of being awarded a property in the auction.

When will my application to bid be approved?

If your application to bid in the auction is approved we will inform you by email and the indication "You are approved to bid in this auction" will appear on the property page you are approved to bid on. If you have not spoken to us prior to your application to bid we will contact you before approving you to bid.

If you have not been approved or we have not contacted you within 3 business days of your application please contact us.

What is the Opening Bid?

The Opening Bid is the minimum bid you can place on a property when the auction starts. It does not represent the reserve price at which the Bank is willing to sell the property at, which is most likely higher.

How do I know if I have the highest bid on a property during the auction?

After you place a bid, you will be able to see the message "You have the highest bid" indicating you are the leading bidder. If your bid is subsequently exceeded by another interested buyer you will see the message "Your bid has been exceeded".

How can I delete or amend a bid I made by mistake?

You have to contact us immediately on (+30) 210 38 98 850 so that we can cancel your bid. After we have cancelled your bid you can submit the correct one. If you have entered by mistake a lower bid than you wanted, then you do not have to call us, you can simply enter the new higher bid.

Properties4sale.gr has the right to exclude from an auction a user who repeatedly or in purpose submits wrong bids.

What does the "number of bids" shown on the property page mean?

This is the number of bids placed on the property until this time. It includes additional bids placed by the same bidder (bids at successive higher price).

Can the end of the auction be extended?

Yes, the end of the auction will be extended on properties which receive a bid in the last minutes of the auction. The auction extension will happen automatically and as many times as required, to give time to interested bidders to respond to a bid in the final minutes of the auction.

Can I receive financing to purchase the property?

Piraeus Bank is offering financing to natural persons (subject to approval of your application) of up to 70% (50% for persons not residing in Greece) of the final purchase price or the Buy Now price (whichever is lower) for the purchase of property on properties4sale.gr. The loan approval is subject to the review process of the bank. If you are interested in a loan please follow the instructions provided in "Financing Options" on the page of the property you are interested in purchasing or click here.

For financing of legal entities please visit any Piraeus Bank branch

What information do I need to get financing to purchase a property?

As the properties have already been checked by the Bank applying for a loan is simple, and can be done by visiting any branch of Piraeus Bank.

When you click on Financing Options on the page of the property you are interested in, you will find information on the documents required and the process to apply for a loan.

You do not need to submit any documents relating to the property with your application, you only need to provide the number of the property you are interested in purchasing. If you are interested on more than one properties, you will need to provide all the relevant property numbers and indicate at the branch whether you are interested in purchasing one of the properties or all of them.

When should I apply for a loan?

Piraeus Bank will respond to your application for a loan within 3 business days from the date of your application. However, we encourage you to apply for a loan at least one week prior to the auction date.

What are the terms of the financing?

Piraeus Bank is offering (subject to approval of your application) to finance up to 70% (50% for persons not residing in Greece) of the final purchase price or the Buy Now price (whichever is lower). The loan interest rate is variable based on 1m Euribor plus margin of 3.00% and Law 128/75 charges (currently 0.12% for residential use and 0.60% for commercial use properties) and a maximum term of 30 years

The final loan amount will depend on the information on your finances which you will provide to the bank with your application. If your loan application is successful you will receive a written Loan Offer letter, which you should read carefully as it contains the main terms of the loan relevant to you.

The Loan Offer is valid for 45 days. If you are the winning bidder and your Loan Offer letter has expired when you are invited to sign the Presale Agreement, we will renew your Loan Offer, unless your personal finances or transactional behaviour have changed.

For the terms and application process for financing of legal entities please visit any Piraeus Bank branch.

My Loan Offer expires before the auction date. What do I do?

The Loan Offer expires 45 days after it is issued. If your Loan Offer is due to expire before the auction and your personal finances or transactional behaviour have not changed you do not need to renew your Loan Offer earlier. We will renew your offer after you have won an auction and your bid is accepted.

If you finances have changed significantly and you are still interest to purchase a property on properties4sale.gr, we recommend you apply to renew your Loan Offer by visiting the branch you applied in.

What happens after an auction?

We will review bids after the auction closes and will contact you if your bid is successful (that is, the Reserve Price has been met) on the telephone number and/or email you entered during your registration.

When contacted you will be invited to sign the Presale Agreement a draft of which is available on the page of the property you bid for and to pay the deposit of 10% of the final purchase price if that is up to €250.000 or 5% of the final purchase price if that is above €250.000 within 3 business days.

You should note we reserve the right to contact more than one bidder after the auction closes, for each property, although the highest bidder will have priority in signing the Presale Agreement. For further information please read the Terms & Conditions .

Can I the entity I represent sign the contract to buy a property Ι placed an offer in?

Yes, the entity you represent can sign the purchase contract and complete the purchase of the property, if your bid is successful. In case the entity you represent requires a loan it will need to apply for a loan in a Piraeus Bank branch and have its application approved.

How do I pay the deposit when the Presale Agreement is signed?

We will provide you with a bank account to pay the deposit or you can pay with a bank cheque.

How soon do you expect the sale contract to be signed after I sign the Presale Contract?

A dedicated team of the Bank has performed the necessary checks in order to prepare a smooth and quick purchase process. We therefore expect to be able to conclude the sale and sign the sale contract within four weeks of the Presale Agreement, subject to the availability and requests of your advisers (e.g. notary/ lawyer/ architect or technical adviser etc.) during their checks of the property titles and relevant documents.

Will you publish auction results?

Auction results are not published.

I cannot place a bid. Am I doing something wrong?

You can only place a bid when you are signed in into your account, the auction is open and when you have been added to the bidders list (for which you must click on "Apply to bid" shown on each property page).

Your first bid in the auction must be at or above the Opening Bid. Subsequent bids must exceed the Current Bid by at least the Bid increment indicated in the bidding area of each property page.

If you encounter any other problems placing a bid, please Contact Us.

I forgot my password, how do I log in?

Please click the "Forgot your password?" on the login page.

I cannot find an answer to my question. What do I do?

If you encounter any other problems, please contact us.

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