Portugal Silver Coast

General property purchase procedures in Portugal

Step by step explanation:

a) You find your property
b) You negotiate the price and conditions
Conditions are:
- Down payment at the promissory contract (usually between 10 - 20% of the property value)
- Finalization date - From the date of the signature of the promissory contract must be fixed a date (within for example the next 90 days) when the FINAL NOTARIAL APPOINTMENT has to be.
- Eventual negotiations (of reparations / refurbishments etc.) which has been accorded between vendor and buyer
c) You choose your solicitor / lawyer (we have several high specialized solicitors in case of need - all speaks fluently English)
d) The solicitor / lawyer will note down all the details which had been accorded between vendor and buyer
e) The solicitor / lawyer will apply from the real estate agent the whole documents concerning vendor, buyer and the property
f) The solicitor / lawyer will apply to the conservatory for the deeds of the property (check if there is any mortgage or any kind of problem on the property)
g) After this complete check the solicitor / lawyer will do the promissory contract based on the information's that were given to him
h) The solicitor / lawyer will present the promissory contract to vendor and buyer for acceptation
i) If everything is O.K. a date for the signature and the down payment will be fixed
j) Signature and down payment of the contract
k) From now on, the solicitor will forward the whole documentation to the notary
l) The notary check again the documents and fix a date for the final process (the date will be within the time schedule that has been fixed in the promissory contact)
m) The notary will contact the solicitor to inform him about the date
n) The solicitor informs vendor and buyer about the date
o) Payment of the purchase tax (this has to be paid by the buyer and can be done through the solicitor)
p) The solicitor brings the paper of the tax payment to the notary (3-4 days BEFORE the final deed)
q) Final signatures and balance payment
r) After the final notary appointment, the solicitor will go to the tax ministry and to the conservatory to change the names of the property
s) Depending on the negotiations with the solicitor he will also apply for the changes of water, electricity and phone line