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Buying Process Portugal

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  • Buying Process Portugal

    Buying Process Portugal
    The purchase process for a home has three phases, the orientation, negotiation and purchase / completion phase.

    Point-wise, the process in Portugal as follows:

    Orientation phase
    - The buyer shall first clearly define what he wants:
    - Full time, part-time live
    - Whether part-time hiring
    - Type of location
    - Type of accommodation (villa, apartment, rooms, etc.)
    - The buyer provides a budget, taking into account additional costs
    - Search in the (large) supply of housing
    - A selection of homes to visit

    If a "click" with a house following the negotiation phase.
    - The buyer makes a bid
    - The seller (or broker) with a counter proposal
    - Consulting on charges of movable property
    - In line asks the seller a deposit
    - A lawyer turned independent

    Now you with the purchase phase, the lawyer will do its work (see right), then follow the following actions:
    - Request Fiscal Code
    - Signs agreement for sale
    - Payment of deposit, legal fees and IMT
    - The lawyer is not any formal research
    - Payment balance purchase price and legal fees
    - Signs definitive purchase agreement at the notary
    - Registration in the land

    Beware of bloopers

    Errors in the buying process can be costly. Typical example:
    These cozy Portuguese on the terrace did a bit of luck, the magnificent town house of his uncle was only
    € 210,000 for sale, but ..... There are more pirates on the coast.
    The next day the potential buyers see and it was indeed a beautiful house. He negotiated and what amounted to € 190,000. The cozy Portuguese wanted within two days 10% to the house of the market, and he also knew a good lawyer. Copper is introduced to the lawyer and makes about € 19,000. Copper heard nothing, phoned the lawyer who told coolly that the house stood in the name of
    3 people of which there was a trace. Sale could not proceed. The lawyer advised to go to law, but said there that it could take three years and the likelihood that the money would be repaid was very small.
    Money away, expensive joke!

    Best regards