Tips On Purchasing Property In Portugal

By Author: Vila Sol
Total Articles: 16
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Before you set out to purchase property in Portugal, there are factors that you must look at. These include:
Determine Your Needs
The process of buying property is determined to a large extend by your personal needs. We all don’t have the same needs. Therefore, you are only going to seek homes for sale Portugal depending on what you want. While one person may want to buy a beach house, another may want to go for a country house. So, determine your needs before you set out on this activity. In case you are a person who is so much into horse riding, it would be wise to get a house at a place close to horse riding field or school. A golfer will definitely seek a house near a golf course.
Acquire a Fiscal Number
It is possible for any person to buy a house in Portugal. However, before you set out seeking Portugal property for sale, you have to be aware of the legal requirement that makes it mandatory for non-residents to obtain a Fiscal Number from the area’s tax office. This is the number that you will keep on using any whatever documents that concern the property or house. In case you happen to be married, ...
... the law further makes it compulsory for both of you to obtain the Fiscal Number.
Examine Your Budget
Common sense demands that before you set out to buy anything you must check and recheck you budget. The process of seeking properties to buy in Portugal must also begin with budgetary considerations. This is not just limited to the price of the property you are seeking but also the fees involved. The taxes too have to be born in mind. This includes but not limited to VAT, Notary fees, Legal fees, Registration of purchase, Registration of mortgage, Land registry fees, Fiscal representation fees, Real estate agent's fees, Property registration fees, Municipal Transfer Tax, Stamp duty, etc.
Get the services of a qualified lawyer
Lawyers play a very big role when it comes to the process of purchasing property. They are the ones who will conduct all the necessary searches as pertains to the property. They will determine actual ownership, title, physical location, taxes and rates charged on the property, any encumbrances, etc. without a lawyer you may never get to know all the legal requirements involved in the purchase of the property. They will help in registering the property for items such as mortgage and also cater for taxes when buying in Portugal.
Ensure you have all the documents
No property is supposed to be sold without all the necessary documents. The owner of the property must provide the buyer with document proving his or her ownership. In this case therefore, the lawyer will come in handy. The lawyer will check with all the necessary government offices just to be sure that whatever you are buying is what the seller states it is. Items to confirm include Licença de Utilização. This is the true description of the property that you intend to buy. Next is the Caderneta Predial which provides a true confirmation of the building’s size and its legal boundaries. The other item to look at when seeking new properties Portugal is the Ficha Tecnica de Habitação. This one gives more details as concerns the house. The owner’s title to that house is confirmed by the Certidão de Teor.
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