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Purchase a Property in Portugal

Purchase a Property in Portugal

Updated on Monday 12th December 2016

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Purchase-Property-in-Portugal.jpgPortugal can be tempting when it comes to purchasing a property. You are met by a wide variety of choices, from remote villages surrounded by fascinating landscapes, a place overlooking the ocean or in the vicinity of the rich vineyards, or cities bursting with culture and history.

When considering buying a property in Portugal, the first recommended step generally consists of selecting an independent, qualified lawyer; in this regard, our Portuguese lawyers are readily available to help you through every step of the process, to make certain that you make the proper decision and a safe investment. Our attorneys are well informed regarding the Portuguese legal system and can put their knowledge to your disposal, offering tips and advice at every step. Thus, our specialists will guide you regarding applicable property taxes in Portugal.

Whether you are looking for Portuguese properties through online services or relying on a real estate agent, acquiring property in Portugal is a rather straightforward process. Nevertheless, we recommend using the services of our lawyers in order not to worry about the language barrier and avoid potential costly misunderstandings; moreover, our attorneys in Portugal can be helpful by ensuring that there are no hidden problems with the property, such as making certain there are no outstanding debts on the property.

After identifying the desired property, our lawyers in Portugal are ready to represent you throughout the entire process, as well as give guiding advice at any point.  
 

The sale agreement for a property in Portugal
 

The next step in the process would then be the sale and acquisition agreement, a promissory contract in Portugal, detailing the conditions involved in the transaction, as well as any related agreements regarding the transfer of property. Upon the sale agreement being signed and notarized, all parties involved will be legally bound to the completion of the transaction. The notary acts as an official representative of the state and will generally charge the buyer approximately 1-2% for the official certification of documents. In addition to this fee, you should be prepared to cover other additional costs involved in the notary supervision, the necessary documents for the obtainment of a mortgage for example, that our lawyers in Portugal will take care to inform you of in advance.  
 

Property Tax in Portugal
 

Afterwards, the buyer must take care of the payment of the property tax (IMT) which may vary between 0% and 8% of the declared value of the property. In dealing with this particular tax, the help of our attorneys in Portugal due to the complexities involved in the system of calculation will make a great difference for you.

Following, the acquisition is almost complete, fact expressed through the final deed.  

We cordially invite you to contact our law firm in Portugal to assist you in the process of buying or selling properties in Portugal.
 

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