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Steps to Buying Property in Portugal: A Pure Portugal Guide for Prospective Buyers

If you are dreaming of owning a property in Portugal, a sun-soaked country renowned for its captivating landscapes and rich history you are not alone!

Portugal’s real estate market has seen a surge in interest from international buyers. Our comprehensive guide will take you through each step of buying property in Portugal.

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1. Research the Portuguese Real Estate Market

The first step in your journey to property ownership in Portugal is understanding the market. Portugal’s diverse regions, each with unique offerings, make it crucial to research before choosing your ideal location. Whether it’s the lively metropolis of Lisbon, the cultural richness of Porto, the stunning beaches of the Silver Coast or Algarve, or the central interior regions where time is slower and views go for miles, Portugal has something for every prospective home buyer.

2. Budgeting for Your Property in Portugal

Knowing your budget is essential when looking at Portuguese properties. A well-planned budget should consider not just the property price, but also additional costs like taxes, legal fees, and ongoing maintenance. Portugal offers a wide range of property options to fit different budget sizes, from luxury villas to farms, quintas, ruins and quaint country homes.

3. Engage a Portuguese Property Lawyer

Enlisting a lawyer’s services, while not obligatory, is a necessary thing when buying property in Portugal. They can help you navigate the legal landscape, review contracts, and perform due diligence, providing an added layer of security to your purchase and ensuring what you think you are buying is what you then actually get!

4. Get a Portuguese Fiscal Number

As a foreigner buying property in Portugal, you’ll need a Portuguese fiscal number (Número de Identificação Fiscal or NIF). This can be obtained at your local tax office and is a crucial step in the property purchasing process.

5. Inspect Your Potential Property in Portugal

Once you’ve shortlisted potential properties, visiting them is highly recommended. A thorough inspection can help you spot any issues and a professional surveyor can provide invaluable advice.

6. Reserve Your Chosen Property

Found the Portuguese property of your dreams? Make an offer, negotiate away and then usually you will pay a reservation fee to take it off the market while the initial checks are conducted. This helps ensure you don’t miss out on your chosen property.

7. Sign the Promissory Contract (Contrato de Promessa de Compra e Venda)

This is a legally binding document, the promissory contract, outlines the sale’s specifics. The buyer and seller sign this, and a deposit is made. This is an important milestone in your property buying journey in Portugal.

8. Finalize Your Property Purchase

The final step is the Escritura (deed of sale) signing before a notary. The remaining balance is paid, and the property officially becomes yours as it gets registered in your name.

Buying a property in Portugal can open the door to a life filled with beautiful landscapes, historical richness, sunny days and ultimately, the good life!!

This guide is informational and should not replace professional legal advice!!!

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