What is the procedure for buying a property in Portugal?

Article by Viv Europe - Official Legal and Relocation Partner to KipperTree.

07 02 2024

For advice about moving to Portugal cont Viv Europe here.

Anyone can say that buying a property in Portugal is easy and you will not be mistaken.

If you have the money to buy the property and bear related costs (such as bank fees, taxes, etc.), sooner or later you will be the owner.

This is because the procedure for drafting the purchase contract, making and registering the deed, and also the process of obtaining certificates can be done by the real estate broker agency or even by the bank itself.

What will not be done for them? The due diligence (legal analysis) of the property and the seller. This is the most important step in buying the property, no matter where.

The consequences of buying a property that is not “buyable” or buying it from someone who is not the real owner can be a real problem in the future.

In addition, buying a property full of debts can be a headache for the new owner. Are you willing to face the chance of being charged an amount that has nothing to do with you?

Remember one thing: the main objective of the realtor (and his / her agency) is to sell the property, just as the bank’s intention is to lend money so that the client can buy the property. Their profit comes from the transaction itself.

On the other hand, the lawyer’s main objective is to instruct his / her client to make a good deal by analyzing all the documents to make sure that nothing bad will happen with that transaction in the future.