Real Estate Due Diligence in Portugal
Real Estate Due Diligence in PortugalUpdated on Monday 06th March 2017
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It is a good business decision to conduct real estate due diligence in Portugal prior to purchasing real properties in the country. The process does not merely involve buying from a seller of real property because you have to consider a lot of factors. The transaction can be quite complicated and technical, but our lawyers in Portugal can get the job done. Conducting a real estate due diligence in Portugal can help you protect your long time investment.
What is due diligence in Portugal?
This is a process wherein a buyer studies a property and the developments surrounding it. During real estate due diligence in Portugal, it is determined whether the property being purchased is exactly what is desired by the client. Our attorneys in Portugal can help you determine the important factors and whether everything about the property is ready for sale.
Factors to consider in conducting real estate due diligence in Portugal
1. Ownership - The determination of ownership will tell you who you are dealing with. The document which shows the ownership of the main property is the certificate of ownership issued by the Land Registry Department which is where all properties are to be registered. This entity and tax authorities require such registration. As part of the real estate due diligence in Portugal, you have to secure a copy of the certificate of ownership. Our Portuguese lawyers can help you acquire it.
2. Type of transactions involving the real estate - It may not be all the time that you desire to purchase real estate in Portugal. In some instances, you might want to enter into a lease, development, or financing of real estate. It is important to determine the type of transaction because real estate due diligence in Portugal for each type is different. For example, when leasing, it is important to consider the lease agreement, while in financing, the security for the loan to be granted should be duly noted. Our law firm in Portugal can help you with the due diligence for each type of transaction.
3. Other factors to consider:
- Sellers are legally capable of selling the property;
- Planning permissions;
- Conditions surrounding the sale;
- Execution of the contract and the parties involved.
Let our Portuguese lawyers prepare all the requirements needed for your Portuguese real estate due diligence. You can be assured that the job will be done correctly and in accordance to your preferences.