Buying overseas property can be traumatic and stressful as well as fantastic, but the world today is getting smaller and smaller and with flexible lifestyles, buying living and working abroad has never been easier.
Many overseas cash rich buyers are enjoying second holiday homes and in the summer months retreating to their overseas property to escape their busy and stressful pressure of their everyday life back home.
The Golden coast of the Algarve is a popular hotspot now with low and high end market buyers in search of their piece of paradise or the Golden Visa in Portugal in the celebrity owned Vale do Lobo Area right in the heart of the golf resorts.
Buying property in Portugal is quite easy if you follow these key steps. Put a good offer in do not insult the seller by putting in Low offers if the offer is accepted a promissory contract is then signed and the deposit has to be paid. The balance of the purchase then has to be paid as the deeds are signed over to you the new owner.
When buying a property in Portugal the deposits are around 10% of the property price but if you want the property we advise making a 20% deposit as it confirms your intention to buy as the deposit is non refundable if you pull out of the sale. If the vendor decides they don’t want to sell the deposit is fully refunded with the same amount again on top. So if you pay a deposit of 20% you get 40% back if the seller pulls out of the sale. So the contact and deposit purchase process is reached when both parties are committed to the sale and by paying 20% you are less likely for the seller to pull out of the sale
The Taxes in Portugal are many and include property transfer tax , municipal property tax, land registry and stamp duty an expert estate agency will work with you to guide and help you throughout the entire process including helping you obtain a Portuguese fiscal number prior to the purchase of any property. Please refer to the Portugal Buying Guide for more information.
There is many flights to Portugal now from all over the world we can help with your travel aspects and accommodation.