The selection of a real estate firm is crucial when selling a home in Portugal. Many Portuguese real estate agents have a wide variety of homes in all of the country’s regions.
By law in Portugal, you may list your home for sale with as many brokerage firms as you choose all at once. On the other hand, many of these services will merely put your home on the market and wait for a buyer to contact them. Unlike other real estate agencies, Portugal Homes takes an active role in helping you, the buyer or seller, every step of the way.
While a lawyer is not required to sell property in Portugal, doing so is highly recommended. The attorneys representing the buyer will handle the bulk of the transaction.
Before you even think about advertising your home for sale, you should double-check that all of your paperwork is in order and that any renovations have been properly recorded with the local government.
The paperwork needed to put your home up for sale
All of the following paperwork must be in order before your home may be listed for sale:
Pre-Registered Medical Practitioner Certificate (Land Registry Certificate)
A tax certificate or identification card known as a “Certido Das Finanças” or “Caderneta Predial”
Prior to 1951, a Declaration or Licença De Utilizaço was required (Habitation Licence)
The Energy Performance Certificate (Certificado Energético) has been required for any homes on the market since 2013. (Energy Certificate)
Registration Numbers and Tax IDs of Owners (passport or ID card and Portuguese Tax number)
All homes constructed after 2004 will have a Ficha Técnica
In addition to these materials, our agent will take photographs and provide a detailed description of your home before entering it into our real estate database. You can then sit back and relax while we handle the rest.
Report of investigation into the matter
An attorney or solicitor should be consulted once an agency has located a suitable buyer for your property and a price has been agreed upon. They’ll translate all the paperwork for you and be there to interpret at the notary for the final deed. The attorney will assist you in determining whether or not you have all the necessary paperwork, and will provide you with any extra assistance or advice you may require.
The next stage is for the buyer’s attorney to do the due diligence report and draught the promissory contract on the buyer’s behalf. The time frame for this is typically 2-10 days but might vary greatly depending on the circumstances.
A Legally Binding Agreement to Do Something
The first legally binding contract for the sale of real estate is signed when the due diligence period has ended. You and the purchaser have just signed the first binding legal agreement between you two. The deposit, typically ranging from 10% to 30%, will be provided in exchange for a promissory note. The deposit is non-refundable because of the contractual nature of the contract.
Last acts
The final deed is signed and the outstanding sum is paid within 30-60 days of the promissory contract’s execution, depending on the circumstances. The buyer, the seller, the buyer’s attorney, and the notary all play roles in this procedure. Your attorney’s primary responsibilities will be to review the contract on your behalf and provide a translation into the language you choose. At the closing deed, when the notary oversees matters for both parties, the sale of the property is finalized. Contact us today to buy or sell property in Portugal fast online.
