How to Sell Property in Portugal Tips Advice Taxes And Paperwork

Selecting a competent real estate agency is a crucial step in the Portuguese property selling process. Some real estate firms feature an extensive inventory of homes for sale in various regions of Portugal. Portugal Homes, on the other hand, specialises in what it does best, providing buyers with services that are second to none.

If you are selling real estate in Portugal, you can list it with as many real estate agencies as you choose. But many of those businesses will merely put your home on the market and wait for a buyer to contact them. Here at Portugal Homes, we take a decidedly more proactive stance toward assisting you with all of your real estate needs, whether you’re a seller or a buyer.

While a lawyer is not required to sell property in Portugal, doing so is highly recommended. The lawyers representing the buyer will handle the bulk of the transaction.

Before listing your home with a real estate agent, check to see that all of your paperwork is in order and that any renovations or additions have been properly recorded with the local government.

The paperwork necessary to put your home up for sale

 

 

The following paperwork must be ready before you may sell your home:

  • Certificado de Registo Predial (Land Registry Certificate)
  • Tax ID Certificate (also known as a Caderneta Predial) in Portuguese.
  • The Use Permit (Licença De Utilizaço) or Declaration (if pre-1951) (Habitation Licence)
  • Energy Performance Certificates (Certificado Energético) have been required for all residential premises in Spain since 2013. (Energy Certificate)
  • Legal Entity Numbers and Ownership IDs (passport or ID card and Portuguese Tax number)
  • Technical Report for All Properties Constructed After 2004

If you provide these details and authorise our agent to take photographs and compose a detailed description of your home, we will add it to our real estate database and you can sit back and relax while we do the rest.

 

 

Due diligence report

You should see a lawyer or solicitor once the agency has located a suitable buyer for your property and a price has been agreed upon. They will assist you in translating the contracts and paperwork, and they will also translate for you before the notary public during the closing of the deal. The attorney will assist you in determining whether or not you have all the necessary paperwork, and will provide you with any additional assistance or advice you may require.

The next stage is for the purchaser’s attorney to perform due diligence and draught the promissory note on his behalf. Depending on the circumstances, this could take anywhere from 2-10 days.

 

 

Agreement to Perform

The first binding contract on the sale of property is signed after the due diligence phase. The two of you have just signed the first legally binding contract. The deposit, which is typically between 10 and 30 percent, will be given to you upon signing a promissory note. The deposit is non-refundable because of the binding nature of the contract.

 

Conclusion

Final deed is signed and amount is paid within 30-60 days of promissory contract, depending on circumstances. The buyer, the seller, the lawyer, 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 prefer. A final deed, overseen by a notary, marks the completion of the sale of your property in Portugal.

 

Compare listings

Compare
Translate »
%d bloggers like this: