Buying and Selling property in Portugal
When buying properties for sale in the Algarve, Portugal, it is essential that you use a government licensed estate agent. The institution that grants the licences is called IMPIC (Instituto dos Mercados Públicos do Imobiliário e da Construção); formerly known as IMOPPI and InCI.
Once you have found your property, you may want to organise a survey and you should also appoint a lawyer to deal with the purchase for you. It is very important to have a local Portuguese lawyer act on your behalf. They will do a thorough check on all of the property's paperwork. Your lawyer will draw up a promissory contract, which states the terms of the sale and the amount of the deposit. Usually this is 10% of the sales price. If the buyer does not complete he loses his down payment. If the vendor defaults, then he has to return the deposit in double to the buyer. We will of course assist you with all aspects of the buying process.
If you wish to know more about buying properties for sale in the Algarve or Portugal, please contact us.
When selling your property in Portugal it is important to keep it tidy and well maintained at all times. This is also true for the garden. Make sure that all paperwork is in order and up-to-date; we can of course help you with this.
If you need advice or wish to add your property to our list of properties for sale in the Algarve, Portugal, please contact us.