Property Purchase in Portugal
Get assistance Investing in Portuguese property with the help of our expert Lawyers
Buying a Property in Portugal with a Lawyer's Help
With the help of our qualified lawyers, smoothly navigate the process of purchasing a property in Portugal and begin enjoying the benefits of ownership in this dynamic market.
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How can a lawyer help me?
There are several ways our real estate lawyers can help you with the purchase of a property in Portugal:
Reviewing and explaining legal documents: A lawyer can review and explain any legal documents related to the property, such as the sales contract and title deeds.
Negotiating on your behalf: A lawyer can negotiate on your behalf with the seller or their representative to ensure that your interests are protected.
Checking for any encumbrances on the property: A lawyer can check for any encumbrances, such as liens or mortgages, on the property to ensure that you are not purchasing a property that has outstanding debts.
Assisting with the transfer of ownership: A lawyer can assist with the transfer of ownership of the property from the seller to you, including ensuring that all necessary documents are filed with the appropriate authorities.
Advising on tax implications: A lawyer can advise you on the tax implications of purchasing a property in Portugal, including any applicable stamp duty or capital gains tax.
What Our Clients Are Saying
Don’t try to go through the Real Estate process on your own. Seek the help of an experienced real estate lawyer to increase your chances of success and make the process as smooth and stress-free as possible.
What’s the Process of purchasing a property?
For most investors, the procedures follows the steps below:
1. Tax and Budget planning:
Taxes and fees are mostly paid by the buyer and vary throughout Portugal’s regions. They typically include the following:
- Property transfer tax that varies from 1% to 8%, depending on the purchase price
- Stamp duty of 0.8%
- Notary costs, title deed tax and land registration fee of 1% to 2.5%
2. Obtain a NIF
Obtaining your Portuguese Tax ID Number and opening a local bank account will simplify much of the process.
3. Search for properties
Our Real Estate lawyers are familiar with the local marketplace and will help you identify the property that you’re looking for.
4. Mortgage terms
If you’re considering applying for a mortgage, only those that are 30 years old or younger can negotiate a 40-year mortgage.
5. Reservation agreement and Letter of Intent
This agreement grants you total control when purchasing the property. For example, it can prevent the seller from continuing to list the property. Our lawyers will draft a Letter of Intent that protects your rights should your’s or the seller’s circumstances change.
6. Perform Due Diligence
An experienced real estate lawyer will make it their priority to ensure the purchase is flawless. They will investigate things like hidden debts, the asset’s quality and explore tax relief. This step also allows for negotiation of the price and other terms.
7. Sign a Promissory Agreement
Make a down payment as a guarantee for both parties.
8. Sign a Purchase Deed
The parties meet to sign the property’s purchase deed at the Public Notary’s Office.
9. Taxes and fees
Once the property is purchased, it’s essential to register the property with the tax authorities, settle all necessary taxes, contract utility bill companies and obtain insurance.
Our team of Real Estate Lawyers have decades of experience across property law and are well-versed in the process and intricacies of investing in this asset class. Our English-speaking team is here to help you.
We are a department formed by qualified legal experts who have been trained in the field of real estate law. We work on these requests every day and it’s our passion. For us, Lexidy is a way of life and what excites us the most is to be able to deliver the happiness and satisfaction of a successful real estate process. We want to help you achieve your goals and dreams.