If you decide to buy a house in Portugal, you will always need a reliable, local lawyer. He or she plays a major role in the purchase process. We have these specialists in our network!
As with any real estate purchase, the process starts with agreeing on the price and terms of the possible purchase. In Portugal, however, there are a number of procedural issues that distinguish this process from that in other countries. It is important to take this into account.
Launching an Offer
As soon as you have found a suitable villa, luxury apartment or holiday home, you will make an offer. If this offer is accepted, the official purchase process begins.
At the time of reaching agreement, you are not yet fully committed to the purchase. There is still a need for a thorough legal examination of all documents relating to the property.
Role of lawyer
All legal and financial preparations in Portugal are arranged by a lawyer. The lawyer checks everything and records it in a comprehensive preliminary purchase agreement.
Promissory Contract of purchase and sale
When all documents are in order, you can have a promissory Contract of purchase and sale agreement drawn up. This will contain all agreements and obligations between the parties. When you sign it, you make a down payment and at that moment the purchase is legally established.
After signing the provisional purchase agreement, preparations must be made for the actual transfer at the notary’s office. The transfer at the notary is only a formality, because in Portugal the notary does not have an investigative function. As indicated, in Portugal this is regulated by a lawyer.
Anyone wishing to purchase property in Portugal must have a Portuguese tax number. Your lawyer will request this from the local tax authorities for you.
Reliable, local lawyer
As you can see, the lawyer has a very important role in the Portuguese purchase process. The lawyer represents all your legal interests. That is why we advise buyers to always choose a local lawyer, who is familiar with the local rules in the municipality.
Thanks to our extensive network in the Algarve, we know several lawyers (offices) who will guide you in a reliable and professional manner.
Want to know more?
Download here the complete, legal explanation of the purchase process in Portugal.