Find your route
The fit
The first step of in buying a property is finding the best fit for you. What lifestyle and what property are you looking for? Together we will find the right balance in order to start our search right. During this step we will meet one of our property specialists. And together we will make sure that we will leave no stone unturned in order for you to decide what kind of home you wish to find and what budget you are willing to spend. In this stage it is very important to work together with a credible agency that will look after your best interests.
How do you know that?
We make a difference because we are an independent business, specialized in finding the right property for you. While real estate agencies will always have a somewhat double agenda, since they have their own portfolio of properties that they will be hoping to sell, we do not have our own portfolio. We can therefore truely independently find the right property for you through our wide network of partners, and beyond, without you needing to have any doubts about us having a double agenda. We are only here to find exactly that what it is that you want!
The Search
It is important that you get to see all the options available. Trough our network of respective real estate agencies, and beyond, we always keep an eye out for all properties on the market, including recent additions. We are able to show you everything so you don’t have to worry about missing out on a thing. Also, at the moment that we find an interesting property for you, you do not need to worry about having to deal with all the different parties involved, we do this for you. You will only have to deal with us (promised: we are very easygoing ).
Feel free to give us notes in way any shape or form. Whether your desired location, property or any other wishes change, or you would like to see more/less from different areas, anything that would suit your search best.
The negotiation
When the moment is there, the feeling is right and your wishes are met, it’s time to start the buying process. This will start with the purchase intention and negotiation of the conditions. We will start with contacting the selling party and agree a price.
Next the process could be broken into 3 stages.
The Reservation of the property is optional upon agreeing the terms of the sale. If this is the case, an amount is put into the lawyers account by the purchaser to show commitment, in return the seller is asked to take the property off the market. Beware, this is not binding. It however creates piece of mind until the promissory contract is ready.
The next step is the promissory contract. In this step a considerable amount is transferred to the vendor. Usually this is around 10/20 %, but can be higher in some cases. The promissory contract agrees on the price and conditions of the purchase. It´s a legally binding document and therefore provides more confidence in looking forward and taking further steps. A lawyer can take care of this process for you through power of attorney.
Once everything is checked and done, the deal will be determined valid and we can move on to the Deed. The deed is done through the notary. The contracts will be signed and the remaining sum will be paid, keys will be handed over and thus the official purchase is concluded. This process will be supervised by the lawyer and supported by us.
Agreeing a Sale
Unlike many others, our service does not end when we have succeeded in finding and buying the right property with you. Most of our clients are of a non-Portuguese nationality, and could use some help with the acclimatization process. Through our established strong partnerships, we can help you with making a soft landing in Portugal.
You can think of partners such as:
Lawyers
– Mortgage brokers
– Financial planners
– Interior specialists
– Currency exchange
– Exterior designers
– Remodelling/renovation experts
– Accountants
– And anything else that you will need for a smooth and pleasant transition.
Click on the step to view the process
Additional costs
In Portugal there are additional costs that will be borne by the seller. These costs vary from 2.4% to 10.8% of the purchase price. Therefore we recommend to budget approximately 10%, although it will probably be less in reality. Once you have reserved a property, a breakdown of the costs will be provided, enabling you to financially plan ahead. For your ease, we have made an indication below. Note that commissions for brokers are solely paid for by the seller.
Transfer Tax (IMT) and Stamp Duty tax:
These are taxes charged by the Portuguese Government. They apply to all property transactions.
IMT
| Value (EUR) | Tax rate (%) | Amount to deduct (EUR) |
| < 92,407.00 | 1% | 0 |
| 92,407.00 – 126,403.00 | 2% | 924.07 |
| 126,403.00 – 172,348.00 | 5% | 4,716.16 |
| 172,348.00 – 287,213.00 | 7% | 8,163.12 |
| 287,213.00 – 550,836.00 | 8% | 11,035.25 |
| 550,836.00 – 1 Mio | 6% | 0 |
| > 1 Mio | 7.5% | 0 |
The IMT tax is 6.5% flat for land
Stamp Duty tax: 0.8% of the purchase price
Lawyers fees: 1% + VAT of the purchase price
The lawyer takes care of all legal issues involved such as making sure that the contracts are in order to be signed.
Notary + registration fees: €2500 approx
The Notary is a government department that makes sure you receive the certified documents proving that you own the property. Registration fees are paid for the land registry to official record you as the legal property owner.
Mortgage stamp duty: 0.6% of the mortgage amount
An additional tax over the total mortgage amount.
Other mortgage costs can include:
Non-refundable commitment fee: approx. €600
Mortgage arrangement: 1%
Deed registration: 1%
Survey and appraisal: €500-800
Legal fees (optional): >€1000
Schedule a call to have a chat with us and find out more.
We often find that, in order to fully answer all your questions and help guide you through the process, a 30-minute phone/video call or meeting will give the most clarity about your inquiries. Feel free to schedule a 30-minute call here. Even if you only have a couple of questions, we are more than happy to help you out. We are there to make sure that there are no snakes in the grass when buying a house in Portugal.
Let’s have a chat!
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