Buying a house in Portugal is extremely simple if everything is in place. This post will explain the process and there will be numerous links that will go into more detail from different sites, so you don´t have to spend too long confirming my information
The estate agents are really good and this time they don´t tell us their job is over now the offer has been accepted. They answer all e-mails quickly and efficiently. If you are looking to buy in this area of central Portugal, we would happily recommend Chavetejo as an estate agent, (click this link to look at their properties, you never know you may get tempted!)
We give the details of our Advogada, this is a Portuguese lawyer. There are two varieties of Lawyer in Portugal an Advogada and a solicitador.
The Advogada is both a solicitor and barrister, so more highly qualified. The one we used is Claudia Castilho, she does not have a website but there is a facebook page (click this link) or if you would like her details just ask, she speaks Portuguese, French and English and has knowledge of German and Spanish.
This woman has been our life saver since coming to Portugal and prevented us from buying a house with no habitation licence
Claudia and the agents work well together and get everything sorted, we explain that we want the process to be completed within 4 weeks, which is when our lease expires.
We have already got our NIF numbers, the Advogada took us with her to get these sorted before the last property. Anybody buying a property in Portugal will be required to have an NIF number, it is your tax number or Numero de Indentificacao Fiscal (NIF) (click this link for more details via Expatica)
You do not need an Advogada to do this with you, but if you don´t speak Portuguese, it really makes life easier.
As this will be our main residence we will be registering this as our fiscal residence. This means our purchase tax is lower and the property will be registered as our main residence.
(you will have 6 months to register the property to benefit from this tax break or you can register as a second home, Speak to your Advogada about this)
So far so good
You may be wondering about surveys, these are not standard practice as far as we are aware, I have googled it and there are plenty of building sites that say you should have one and they will be happy to take your money. But as John is a builder he is able to check all aspects of the property so we know exactly what we are looking at.
If you are not an experienced builder it is always a good idea to get a builder to have a look at the property for you.
The promissory is drawn up once the Advogada is happy that everything is correct, including the habitation licence. Without this we would not be able to rent the properties as holiday lets and there would be numerous other problems. If you want to live in the property or use it for rentals you must have a habitation license (click here for more detailed information)
The promissory is drawn up and signed and the 10 percent deposit is paid to our Advogada who will hold the money until it goes through.
We can not stress enough how important it is to use a trusted Advogada when buying a property, yes there will be an additional cost but you will be sure that everything is completed fully and legally.
Portugal like France has some inheritance laws that means a property is passed to family members, you need to know that every family member has agreed the sale and no body will come forward in the future with a claim to your house.
And as we found out at the last property, a good Advogada will ensure that any problems are cleared before the Promissory.
The promissory is the equivalent to the compromise in France. Where all the details of the sale are completed in a document that everybody signs, stating that you can buy, the owner can sell, that all legal aspects are completed.
A 10 % deposit is paid, this can be paid direct to the seller or as we chose, the Advogada can hold onto it in a separate account until signing day
For the promissory you will need both the originals and copies of;
- NIF Number
- Driving license (I can´t remember if this was required or we gave it as additional, but better safe than sorry)
Here is a link with more details
So everything is in place and we have the final signing at the notary office. The balance is paid at the completion when the deed of sale ( escritura) is signed
The monies have all exchanged and the signatures are drying,
but this is it.
We have just bought a house in Portugal
We are about to begin our new adventure.
- Use a good Advogada
- Use a good Advogada
- Use a good Advogada
- Obtain your NIF number
- Have copies of your passport, and NIF number as well as the originals
- Have a Portuguese bank account (again our Advogada help sort this out)
- Have the deposit available
- If you have followed 1,2 and 3 you don´t really need to do much more, but if not then good luck
Sorry if you are going to get a mortgage you may need additional help, this post is for cash purchases.