Thessaloniki
Property Foreclosure: Legal Options You May Not Know
Injunctions · Stays · Seizure Cancellations
Foreclosure of your primary residence is not inevitable. Greek law provides significant rights of defence — provided you act in time. With 25+ years of banking and enforcement law experience, we have helped hundreds of debtors protect their homes from banks and funds.
What is a forced auction?
A forced auction (πλειστηριασμός) is the compulsory sale of a property or assets to satisfy a creditor — bank, fund, or the State. Greek law provides significant rights of defence for the debtor, provided you act in time.
How we defend you
- Stay of auction of primary residence or business premises
- Objection to enforcement (Article 933 CCP)
- Cancellation of seizure on formal or substantive grounds
- Oppositions to enforcement acts
- Application to exempt primary residence from enforcement
- Objection to payment order
- Actions against banks for unfair contract terms
- Fund cases — challenging legality of claim assignment
- Application to out-of-court restructuring mechanism (L. 4738/2020)
- Debt restructuring negotiation with banks and servicers
What You Can Do — 4 Legal Options
Application for Auction Stay
An auction is not suspended automatically, nor merely because its date is approaching. It can, however, be stayed by the court, provided there are lawful and documented grounds and the critical deadlines have been met. We review the enforcement file immediately and act in a targeted way, before time becomes the harshest opponent.
Filing under Law 4738/2020
An application under the out-of-court mechanism can offer substantial protection against enforcement measures, subject to the conditions and exceptions of the law. We assess in good time whether the filing can genuinely be used in the case and handle it strategically — not as a mere online application.
Objection to Enforcement
In enforcement proceedings, the detail often decides the case. The writ, the seizure, the company's standing, the amount of the claim, the interest and the charges are checked one by one. An objection is not a delay. It is the organised legal defence before enforcement becomes a fait accompli.
Negotiation from a Position of Strength
Negotiation does not start from fear. It starts after the claim, the amount, the interest, the creditor's standing and the margins of defence have been checked. Only then do we know what a settlement proposal is really worth and how it can be improved in the debtor's favour.
Not sure which option applies to your case?
Every case is different. Contact us for a full assessment of your legal position and available options.
Book a consultationTimeline — When You Need to Act
From the payment order
The first critical deadline
A payment order is not a simple demand letter. It is an enforceable title that can lead to compulsory enforcement. From the moment it is served, critical deadlines begin to run and it must be checked immediately whether the claim is legally established, whether the amount is liquidated, whether the interest has been correctly calculated and whether the supporting documents are sufficient. A timely objection against the payment order may be the first and most decisive means of defence.
From the first writ or seizure
The clock starts ticking again
If enforcement proceedings have already begun, from the first writ of execution or seizure, the claim, the interest, the creditor's standing, the transfer of the claim, the appointment of a servicer and the legality of the procedure must all be checked immediately. In enforcement proceedings deadlines do not forgive delay. The sooner you act, the more options you have.
As the auction approaches
Urgent — but not lost
The auction is not suspended automatically. A judicial stay can be sought, provided there are lawful and documented grounds and the critical deadlines have not been missed. Every day counts, because the closer the date, the narrower the procedural margin.
After the auction
Not always the end
Even after the auction, the file must be reviewed. Depending on the stage and the actual facts, there may be options to challenge acts, review the award, the ranking table or other legal consequences of enforcement. Do not give up before learning what you can really do.
Deadlines are strict — act immediately
Enforcement proceedings are subject to very short mandatory deadlines. As soon as you receive an enforcement order, seizure notice, or auction notification, contact us immediately.
Why choose us
- 25+ years on the front line of banking disputes and enforcement proceedings.
- Hundreds of objections and stays, even in cases that seemed already "lost".
- Full knowledge of the practices of banks, funds and debt management companies, using every critical element in the debtor's favour.
- No file is reviewed superficially. We examine the claim, the assignment, standing, interest, charges, enforcement acts and deadlines.
- Office in Thessaloniki, banking cases throughout Greece.
Frequently Asked Questions About Foreclosure
Yes, protection is possible right up to the eve of the auction — but not with an application filed out of time. It requires a timely procedural step, a serious legal basis and documented harm. When these exist, judicial protection can be triggered even at the final stage, before the auction is completed. That is why the file must be reviewed immediately, before the last moment becomes a missed opportunity.
The objection to enforcement is the main judicial remedy against compulsory enforcement. Through it, the payment writ, the seizure, the auction, the claim, the interest, the charges and the standing of the party pursuing enforcement are all reviewed. The deadlines are strict. In typical cases, the objection is filed within 45 days of the seizure, while special deadlines apply to the final act of enforcement, particularly after the auction. That is why we do not wait until the last moment. We review the file immediately, before the defence is lost to a deadline.
An auction can be pursued by a management company on behalf of a fund or claims-acquisition company, provided there is an enforceable title, a valid assignment of the claim and full standing of the party initiating the process. This does not mean the file is invulnerable. We check the assignment, the standing, the amount of the claim, the interest, the charges and every act of enforcement. Because before a property is lost, it must first be checked whether the enforcement rests on solid legal ground.
Contact us now
Don't let deadlines catch you off guard. Call us today for a case assessment.
Book a consultation