{"id":269,"date":"2018-02-14T11:41:23","date_gmt":"2018-02-14T11:41:23","guid":{"rendered":"https:\/\/www.propertyunder20k.com\/blog\/?p=269"},"modified":"2018-02-14T11:41:23","modified_gmt":"2018-02-14T11:41:23","slug":"buying-a-house-in-portugal","status":"publish","type":"post","link":"https:\/\/www.propertyunder20k.com\/blog\/2018\/02\/14\/buying-a-house-in-portugal\/","title":{"rendered":"Buying a house in Portugal \u2013 A step by step guide"},"content":{"rendered":"

Buying a house in Portugal:
\nPortugal is one of the favorite locations<\/strong> to move abroad.
\nIt\u2019s no wonder that it is the first choice for many when looking to buy a home to relocate or to spend their holidays.<\/p>\n

If you have your eye on that nice cottage with sea view in sunny Portugal, then you are in the right place.<\/p>\n

Here is a step by step guide to take you through the entire process when buying a house in Portugal.<\/h4>\n

<\/p>\n

Choose a property<\/strong>
\nWhen buying a house in Portugal, first of all you need to find the right property for you.
\nThere is no shortage of properties for sale in Portugal, so it shouldn\u2019t be a problem to find the right property for the right price.<\/p>\n

Here is a good place to start: https: www.listproperty4free.com\/maps\/portugal<\/strong><\/a><\/p>\n

However, if you are looking for a bargain here is were you can find one:
\nwww.propertyunder20k.com\/maps\/portugal<\/a><\/strong><\/p>\n

\"buying<\/a><\/p>\n

If you decided on the property you want to buy, here is what follows.<\/p>\n

Real estate agents<\/strong>
\nUsually properties are sold through authorized real estate agents whom will be happy to guide you through the entire process. Most agents will be able to speak with you in English as well.<\/p>\n

You may wish to hire a solicitor but this is not mandatory.
\nThe real estate agents are prepared to deal with all aspects of the process and as the buyer you will not have to pay them any fees.<\/p>\n

Personal fiscal number (Numero Fiscal de Contribuinte)<\/strong>
\nYou cannot buy a property in Portugal without a personal fiscal number.
\nThis number can be obtained right away at the Local Tax Office (Finan\u00e7as).<\/p>\n

Making an offe<\/strong>r
\nSellers will typically list their properties for a slightly higher price then they are prepared to sell for.
\nTo make sure the asking price is right, have a look at similar properties for sale in the same area.
\nOnce you made up you mind about how much you are willing to spend simply inform the agent and he or she will pass your offer on to the seller.<\/p>\n

Offer accepted<\/strong>
\nOnce the price and other details have been agreed the actual legal process can begin.<\/p>\n

Legal process<\/strong><\/h4>\n

The legal process has two stages:
\n1 – Preliminary “promissory buying and selling” contract (Contrato de Promessa de Compra e Venda)
\n2 – Completion contract (Escritura).<\/p>\n

License of Use (Licen\u00e7a de Utiliza\u00e7\u00e3o)<\/strong>
\nBefore you sign the preliminary contract you need to obtain a copy of the license of use from the local Town Hall (Camara Municipal)
\nThis document certifies that the property is licensed to be used for a specific purpose (residential, commercial or industrial).<\/p>\n

Preliminary contract (Contrato de Promessa de Compra e Venda)<\/strong>
\nBoth the buyer and seller will sign a preliminary “promissory” contract, similar to an exchange of contracts in the UK.<\/p>\n

This contract legally secures the purchase, and is subject to satisfactory searches having been returned.<\/h4>\n

Deposit<\/strong>
\nWhen buying a house in Portugal you will usually pay a deposit of 10% of the selling price (or another amount agreed in advance) to the agent who will keep it in an escrow account.
\nThe Portuguese law regulates that the deposit is forfeited in case you decide not to buy the property.
\nIf the seller pulls out you will receive double the amount of your deposit.<\/p>\n

Property Registration Certificate (Certid\u00e3o de Teor)<\/strong>
\nYou will need to get a Registration Certificate from the local Land Registry (Conservat\u00f3ria do Registo Predial) in order to complete the process at the Notary’s office.
\nThis document proves who is the owner or owners of the property and if there are any unpaid charges or mortgages on it.<\/p>\n

Property Tax document (Caderneta Predial)<\/strong>
\nYou can obtain this document at the local tax office (Finan\u00e7as).
\nThis document certifies the property’s fiscal number and the inscription of the property for fiscal purposes, identifies the current owner and describes the property.
\nIt also mentions how much the yearly tax is.
\nThis document does not exist for new properties; instead, the building developer will issue a temporary certificate.<\/p>\n

Completion (Escritura de compra e venda)<\/strong>
\nCompletion will take place 3 to 4 weeks after signing the preliminary contract.
\nThe \u201cEscritura\u201d (deeds of the property) will be read by the notary and it will be signed by the buyer and seller.
\nAt this stage you need to pay the remaining balance of the purchase price, the transfer tax (Imposto de Sisa) and the notary\u2019s fees.
\nThe property is now officially yours and you will receive the keys.
\nThe Land Registry Office (Conservat\u00f3ria do Registo Predial) and Local Tax Office (Finan\u00e7as) will then have the property registered.<\/p>\n

After completion<\/strong>
\nCongratulations! You successfully went through the process of buying a house in Portugal. Now you will need to make arrangements concerning the supply of electricity, water, gas, telephone, property insurance, etc.<\/p>\n

Oh, and don\u2019t forget to buy a hammock and to enjoy your new home in Portugal.<\/h4>\n","protected":false},"excerpt":{"rendered":"

Buying a house in Portugal: Portugal is one of the favorite locations to move abroad. It\u2019s no wonder that it is the first choice for many when looking to buy a home to relocate or to spend their holidays. If you have your eye on that nice cottage with sea view in sunny Portugal, then … Continue reading Buying a house in Portugal \u2013 A step by step guide<\/span><\/a><\/p>\n","protected":false},"author":10,"featured_media":272,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[154,4],"tags":[155,156],"yoast_head":"\nBuying a house in Portugal \u2013 A step by step guide - propertyunder20k.com<\/title>\n<meta name=\"description\" content=\"Buying a house in Portugal: You have your eye on that nice house with sea view, here is a step by step guide to take you through the entire buying process.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.listproperty4free.com\/blog\/2018\/02\/14\/buying-a-house-portugal\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buying a house in Portugal \u2013 A step by step guide - 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