Frequently Asked Questions

The affordable paradise
The Algarve offers a wonderful array of cultures and activities. Surrounded by beautiful nature and a safe environment, the Algarve is a terrific destination, not only for a holiday, but also to find your home or second home under the sun.
Feel free to learn more about The Portuguese and Algarvian lifestyle here.

The seller pays all the agent fees (market standard is a commission of 5 %).
Unlike other countries, Portugal doesn’t make a distinction between a buyer and seller agent. Therefore, most agencies and agents provide both buying and selling services. The seller and agent agree together on the terms of this payment. this can be done in 3 ways. 100% upon completion of the promissory contract, 50% upon completion of the promissory contract and 50% upon completion of the deed, or 100% upon completion of the deed.

When buying a home in Portugal it is of importance to take additional fees into account. These fees consist of lawyer & notary fees, tax fees (stamp duty & IMT), (if applicable) mortgage fees.
On this page, all the specific information is provided regarding the tax percentages and calculated fees.

Reservation deposit rate: Market standard = €6.000, to €20.000, (mostly €6.000,)
Promissory deposit rate: Market standard = 10-20% of the agreed upon price.
A deposit payment can be used in order to reserve a property and get it of the market. This will give the lawyers 15 to maximal 30 days to prepare the signing of the promissory contract.
Part of the promissory contract is paying a deposit fee. This fee is part of the negotiation when setting a price both parties can agree upon. Market standard would be 10% but can go up to 30% if necessary.
Click here to learn more about the process of buying a property.

Although it is not mandatory to have a lawyer when buying or selling a property, it is highly recommendable to hire one due to the limited role of the notary in Portugal. The lawyer will prepare all affairs regarding the contracts and proper documentation. Due to the highly specific nature of these documents and a possible language barrier, hiring a lawyer can very much help smooth out buying a property.

Even though you would be able to buy or sell a property yourself, it is recommendable to work through an agent. A good agent can find you great properties according to your wishes. You might not be able to find these yourself. A good agent is specialised in representing your best interests. He has an extentive network of lawyers and councils that can be very helpful throughout the process. An agent will have extensive knowledge of the market and all the trials and tribulations along the way. Having an agent can be very convenient in Portugal.

The vendor usually has 24h to 72h to respond to an offer presented by the buyer. The official offer is formally drafted through the real estate agent. The vendor could decide right away. However, keep in mind that it can take a day or 3. In any case, the buyer is allowed to put a time limit on their offer. Most of the time, this process will form organically in order to suit the both parties’ needs best.

From the moment the offer is accepted, this will be formally confirmed in writing. The next step is preparing the promissory contract and discussing the possibility of reserving the property. Your agent will take you through this process one step at the time. Feel free to read all the steps here.

When buying or selling a property there is the option to hire a surveyor to properly analyze any problems that might be under the surface. Usually, the party that wants the survey, pays for the surveyor’s services. It is recommended to consider the possibility of performing a survey. However, in some situations buyers and sellers can agree upon the sale without the presence of a survey.
Throughout the buying process, the lawyers will check whether all the proper documentation is in place.

The keys will be handed over upon the completion of the deed. If you cannot be present when the deed is finalized, your representative, whether that would be the lawyer or your agent, will see that the keys are taken care of and they will be delivered to you.