The Buying process in Portugal

In Portugal, the process of buying and selling real estate is relatively simple and can be carried out quickly, if the property documentation is in order: the average time varies between 4 and 8 weeks in a private purchase and sale process and it may take a little longer if the purchase and sale of the property involves the transaction of a company.

What you should now about the process:

Due Diligence *

Any of our Expert Advisors, based on search characteristics, personal priorities and available budget, will help you find the best options available and maybe even show you some properties that have not yet come on sale. After we find the ideal property for you, our Consultants will give you all the support/advice to be able to make a Purchase Proposal, being fully qualified to deal with each of the stages of negotiation between the parties involved. Once the negotiation isconcluded, and if necessary, Letters of Intent will be prepared that describe all the terms and conditions agreed and will
be sent to the lawyers of both parties. The seller´s lawyer then sends the documentation to the buyer’s lawyer, to proceed with the competent "Due Diligence"

Promissory Contract

Once the Due Diligence* of the property, carried out by the buyer´s lawyer, is completed,the Promissory Agreement for Purchase and Sale is drawn up to be analyzed and validated by the parties, and the respective signing of the Promissory Contract is scheduled.

Terms & conditions of the purchase

Although there is no specific legislation, as a rule, the buyer pays a down payment of 10% of the transaction value, upon signing the Promissory Contract (CPCV), unless a different percentage is previously negotiated between the parties. This Agreement provides for a deadline for the Final Deed (previously agreed) to deal with all the necessary documentation and even deal with bank financing, if applicable.

Public Deed of Purchase

The Public Deed of Purchase and Sale is the transfer of ownership to the buyer and is carried out at the Notary Office. If the buyer cannot be present, he can be represented by means of a legal power of attorney. In this act, the remaining value of the property value is paid together with taxes and the transaction is concluded.

Property Registry

The buyer´s lawyer will register the new owner in the Land Registry and, as a rule, will also change the ownership of services (water, gas, electricity, etc.) related to the property.

*Due Diligence | Detailed analysis process and validation of ownership documentation, in order to ensure that there are no liens and/or charges on the asset to be acquired.