Greek Glossary
Types of Sales in Greece
By Antonio Kollaros,  domus inc. Real Estate
Apr 21, 2004

Apart from a normal Sale or "straight sale", there are other types of transactions that are possible.

''Counter Performance'' is a type of contract according to which the owner provides his land to a construction company that undertakes to build at their own expense. The company offers back to the owner of the land a percentage of the building. The rest of the building remains the property of the construction company. EXAMPLE: when a householder has a plot 1,000 m2 with ` Factor of Building' 0.8 which means that 800 m2 can be built on the plot. The construction company offers the land owner 40% on Counter Performance. The construction firm will retain 60% of building or 480 m2 as independent property and the householder will have in his property of the remaining 40% of building i.e. 320 m2 as independent property in exchange for buildings constructed on his lot.

"Exchange" is simply a barter which benefits both traders. EXAMPLE: 2 householders who own 2 different pieces of real estates trade or exchange their assets. This "Exchange" can occur with any type of real estate and may or may not involve exchange of cash.

"Co exploitation" means a collaboration or joint venture between a property holder and another person or company. Example: a property holder gives Counter Performance of his real estate to a construction company but participates also in the investment of capital for construction. In this case, it has in its utility the percentage which results from the Counter Performance and moreover a share from the profits of construction.

"Mixed Reconciliation" means that a transaction takes place with any combination of the above. EXAMPLE 1: A householder has in his possession a plot which he wishes to sell only of. The other of plot he gives for counter Performance. EXAMPLE 2: A householder has in his possession a plot which wishes to exchange the 3/4 of plot for ready buildings (apartments or professional spaces) and the rest of plot to be given for Counter Performance or for straight sale.

© Copyright by domus inc.