If you’re an expat looking to buy a house in Portugal, here’s a step-by-step guide to help you through the process.
- Choose your location
The first step in buying a house in Portugal is to choose your location. Portugal has many beautiful regions, each with its own charm and attractions. Some popular regions for expats include the Algarve, Lisbon, Porto, and the Silver Coast.
- Find a reputable real estate agent
Once you’ve chosen your location, you’ll need to find a reputable real estate agent. A good agent can help you find properties that meet your needs and budget, as well as guide you through the buying process.
- View properties
Once you’ve found an agent, it’s time to start viewing properties. Your agent will schedule property viewings for you and can provide you with information about the area, including local amenities, transportation, and schools.
- Make an offer
If you find a property you like, it’s time to make an offer. Your agent can help you negotiate the price and other terms of the sale, such as the date of completion and any fixtures or fittings included in the sale.
- Hire a lawyer
Before signing any contracts, it’s important to hire a lawyer. A lawyer can help you navigate the legal process and ensure that the property is free of any liens or encumbrances.
- Sign the Promissory Contract
Once you and the seller agree on the terms of the sale, you’ll sign a Promissory Contract. This contract outlines the terms of the sale, including the purchase price, payment terms, and completion date. You’ll also need to pay a deposit, typically 10% of the purchase price.
- Complete the purchase
On the completion date, you’ll pay the remaining balance of the purchase price and sign the Deed of Purchase and Sale. This document transfers ownership of the property from the seller to you.
In conclusion, buying a house in Portugal as an expat is a straightforward process, but it’s important to work with a reputable real estate agent and lawyer to ensure a smooth and successful transaction. By following the steps outlined in this blog post, you’ll be well on your way to finding your dream home in Portugal.