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10 Steps you should follow before you buy real estate in Portugal

Whether you’re buying an investment, residence, or vacation home, follow our guide to get prepared and we’ll take care of the rest!


Finding the Right Real Estate Agent

In a market as big as the one in Portugal, you’re sure to benefit from the assistance of a reputable real estate agency in Portugal such as Seed Real Estate. Experienced real estate agents can not only help you source the right property, but also inform you about the market and strategies, negotiate the price, advise on documentation and contracts, coordinate meetings, and provide an assessment of the risks involved with purchasing a property.

Working with Seed ensures you not only have access to a wide variety of Portugal homes for sale, but also the advice of established professionals in the industry.

In Portugal, there are no commission fees for buyers for the mediation services of property purchases, so there’s nothing to lose when you work with Seed.

Real Estate Agent


Getting Your Finances in Order: Mortage or Cash?

Deciding on your budget and the available options for financing your purchase is one of the first steps in buying a property in Portugal. After the consultation with your agent, by now you should be able to decide which way you are going to go.

If you are buying cash you are almost set but don't forget to include property taxes and legal fees in the calculations. If you are going to apply for a loan, banks will use the following to determine your eligibility for a mortgage:

  • Income
  • Source of income (i.e., the country in which you earn)
  • Age
  • The purpose of the purchase (i.e., investment or residence)
  • Other investments held
  • Marital status
  • Dependents

Enlisting the help of an experienced real estate agency in Portugal means that you’ll have connections to qualified mortgage brokers who can help you sort out your finances.

Morage or cash


Being a Tax resident and Opening a bank account

You don’t need to be a Portuguese citizen in order to purchase Portugal homes for sale. However, you need to make sure you have everything you need before your start attending viewings and arranging finance. Most importantly, you must have a NIF number (Portuguese tax number) and a Portuguese bank account.

For getting a NIF, you need to present:

  • Proof of address and passport/ID.
  • For opening a bank account, you need to have;
  • NIF (Tax Number)
  • Passport/ID
  • Proof of Occupation and/or income
  • Marriage Certificate if you are married
Opening a bank account


Setting Your Criteria

Now that you know your budget, and financing options and have all the correct documentation you need to get started, it’s time to ask yourself a few questions:

  • What is your ideal location?
  • Which are your non-negotiable features? This could be the presence of an elevator, the number of rooms, the outside space, etc.
  • Which are some other features that are important to you, but are not deal-breakers? This could be air conditioning, a balcony, a pool, etc.


Viewing Portugal Homes for Sale

Viewing properties is one of the most exciting parts of the process when buying a property in Portugal. However, it’s important not to forget the important questions. You’ll need to know about the local area, the neighbours, and the building structure if the property is an apartment in a block.

Ask yourself (or your real estate agent) the following questions:

  • Is the location suitable?
  • Are there any developments planned in the area?
  • What is the condition of the building?
  • What refurbishment does the property need?
  • Is the property refurbishment within budget?
  • What is included in the price of the property?
  • What is the condition of the utility systems, for example, the electricity and water supply?

Make sure you are completely satisfied with the information you have before moving on to the next stage!

Home for sale


Getting a Local Lawyer, Examining the Legal Documents and Contracts

Once you’ve identified the perfect property, your lawyer and real estate agent will need to go through every document in great detail. This must be done to ensure that there are no hidden debts, issues with the building’s construction, legal hurdles, undisclosed owners, or anything else that might hinder the purchase.


Making an Offer

Seed is a real estate agency in Portugal, that prides itself on the experience of our team of real estate agents. When you make an offer on a property, it may be accepted, or it may be responded to with a counteroffer. This process of negotiation can continue for a while until a price is agreed on. This is where it is important to have the help of an experienced negotiator. At this stage, the price agreement is not official until the contracts are signed.

Making an Offer


Reserving the Property


This is not a mandatory stage of the process when buying a property in Portugal, and in some cases, it can be ignored. Buyers are sometimes required to pay a small fee, in order to reserve the property. Once the contracts have been drawn up, typically after a 14-day period, they can be signed and the owner of the property is now obligated to sell it to the buyer at the price they have agreed. Once the contracts have been signed, the buyer will forfeit the reservation fee if they decide not to go through with the purchase. The seller will forfeit an amount double the reservation fee if they decide not to go through with the sale.


Until you sign the deed at the notary and actually buy the property you can sign a promissory contract with all the conditions you want to include in your offer. This will make sure you are protected in the waiting period until the deed.

Reserving the Property


Picking Up the Keys

Congratulations! You are now the proud owner of a property in Portugal. Once the contracts have been signed and the owner has received a sum for the purchase of the property, they can give you the keys. All property documentation will now be in your name, and you are the legal owner of the property!

Picking Up the Keys


Now you’ve got a choice to make


In Portugal, there are no commission fees for buyers for the mediation services of property purchases, so there’s nothing to lose when you work with Seed.


You may decide to utilise your property as an investment, earning you income for many years to come. Why not take advantage of Seed Real Estate’s property management service to make your investment truly hassle-free?

Moving In


Inviting your Agent to your House Warming Party

Not a must but we strongly encourage this step!!!

Warming Party

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