Financial and Administrative Steps
1. Purchase process
Once chosen, you submit a promise to purchase that will be accepted by the seller. Once accepted, the sale at notary can take place in 1 to 3 months depending on your request.
There are several documents to check when you buy a property:
- Extract from the land register
- Register from Tax Authorities
- Usage Permit (when applicable)
- Housing Technical sheet (when applicable)
- Energetic certificate
We will recommend you to contract local lawyer to verify all documents and draft promissory contracts for you. We will introduce to you a list of professional lawyers.
2. Bank Financing
The acquisition of real estate can also be done with a bank credit. Portuguese banks sometimes offer very attractive financing solutions of up to 100% of the value of the property.
On average, however, one must count 30 to 40% of contribution. Another Portuguese specificity, the rates are all, or almost all, variable rate. The bank offers you a rate with its commercial margin, which is negotiable and variable depending on the banks and your profile ...
From a rental investment perspective, bank leverage is often a very good tool for building up a long-term asset.
In order to purchase pleasure, and depending on age, credit is often to be avoided…
