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Steps to buy a property in Portugal
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1) Decide what type of property you desire and where: if it is a new construction, or an used property (by the sea or in town). Choose the best suited option for you and contact the Portimmo team. We will supply you with several options, know that we care about finding the right property for you and we will accompany you through the entire process, always with professionalisme and a smile.
2) Visiting the property. When you visit your potential new house, be sure to take notes, and take plenty of photo's. Take measurements, consider the layout, the oriëntation of the house, consider the amount of light coming in, check f.i ventilation in bathroom(s) and kitchen. Investigate the state of the wiring, check the area for noise and amenities. Be thorough, take your time when you visit your potental house. Only then, if you are convinced, make your offer.
3) Mortgage. Getting a loan, either from a Portuguese bank or one at home, using the property itself as a guarantee against defaulting, is a more common option than a one-off payment. Depending on your age and certain other characteristics, payment terms can be up to 40 years, with banks usually lending 80% of the house's sales price and the remaining 20% to be paid from the buyer's own capital.
4) Sign the deposit agreement (contrato de promessa de compra e venda).
This is the first contract to sign and it acts as a preliminary safeguard for the rights of buyer and seller. It means paying 10% deposit on the total value of the property and the buyer will take over rights and responsabilities. If you, as buyer later decide not to go through with the transaction, you lose this down-payment. If the seller decides to cancel the sale, they will have to pay you 2 times the deposit back to you.
5) Sign the title deed. The signing of the deed has to be done in front of a notary with both the buyer and seller present. Ensure that the deed contains a correct description of the property, also it must include any outstanding mortgages or charges on the house and the sales price as well as the payment method, indicating all taxes and expenses related to the sale. You need to take this opportunity to check that all documents are present and correct, like f.i. the Energy Performance Certificate, insurance (if applicable) and invoices for the latest tax- and community cost payments.
6) Pay the transaction cost and taxes, the main expenses when buying a home in Portugal are the IMT Property Transfer Tax, VAT and Stamp Duty and the notary cost, the cost of the Estate Agent (if you used one) and any cost related to the mortgage. As a quote 6-7% of the sales price on the deed should be allowed for this cost.
7) Change the name on the contracts for energy, water and gas. Inform the respective companies that you are the new owner and you will be handling the bills.
8) Please keep all documents on a safe place since you will need them again whenever you will rent or sell the place.
9) Get the keys and move into your new home and enjoy it
The Silver Coast
São Martinho do Porto
Counts about 5000 inhabitants. This cozy, well-tended seaside resort stretches out on the edge of the almost circular bay. The beautiful bay is a paradise for the little ones. A beautiful walkway with various bars and restaurants.
Salgado
Next to São Martinho de porto is Salgado beach, less known for tourism but also very beautiful, the Atlantic Ocean comes into its own. A wild sea with always high waves. beautifull to have a walk allong the shore.
Nazaré
If you prefer a slightly more lively beach with many shops, restaurants, bars, markets, picturesque streets then you have to be in Nazaré. It is also buzzing in the evening. More tourism, also regularly an event. Typical of Nazaré are the fishermen's wives. Definitely a must is taking the train to Sitio, this for a breathtaking view. During the winter months surf records are broken on waves of 23 to 30 meters high.
Foz do Arelho
Foz do Arelho is known for its surf beach and the Lagoon of Obidos. The ocean comes inland and forms a lagoon, clear blue and shallow, ideal to go with small children. Various cocktail bars are located on the surf beach.
Peniche
A fishing town, here are many different beaches. This is the surf spot. In Peniche you can take the ferry to the Berlenga islands where you can spend the rest of the day. Very nice for walking and diving.
Obidos
A magnet is the medieval village of Obidos, it is a village within a castle. Especially with children a hit, in the weekend theater is played, the medieval village is in full glory. You can take a carriage ride and take a walk on the walls of the castle. There are plenty of nice restaurants and picturesque shops.
Fatima
Fatima is a place in Central Portugal in the municipality of Ourém. After an appearance of Our Lady of Fátima was reported in October 1917, the village became a Roman Catholic pilgrimage site.
Alcobaça
Alcobaça is known for its monastery: Santa Maria, this is worth paying to visit. On Sunday morning it is free.
The history of the monastery is closely linked to the Portuguese royal family, especially in the battle against the Moors. King Alfonse 1 promised the ground on which the monastery was built to Saint Bernard when the conquest of Santarém on the Moors would succeed. This happened in 1147, and in 1178 the Cistercians started the construction of this monastery, simultaneously with that in Clairvaux. The two tombs are those of Peter I of Portugal and of his mistress and posthumously certified wife Inês de Castro. Peter's father, King Alfons IV of Portugal, had murdered the mistress. When Peter climbed the throne after the death of his father in 1361, he had it excavated and placed in a tomb in the abbey church. He himself was later buried in the other tomb. The two lovers lie facing each other so that they would face each other on the day of the resurrection.
Caldas da Rainha
Caldas da Rainha is our city where we go shopping and go to the fruitmarket is every day! You have the LA VIE this is a indoor shopping center. Caldas offers many restaurants and bars. cinema, bowling, ... everything a city can offer.
Relaxation
On the silver coast are 4 beautiful golf courses.
praia del Rei
West cliffs
Bom Sucsesso
Royal Obidos
TV SHOW
Portimmo had the chance to participate to a Belgium TV show in 2021 on www.Goplay.be
With “House hunters abroad”.
In these four episodes you can see how Portimmo had to present four different properties al over Portugal. I am grateful for the opportunity and that I have met nice new colleagues.
- Dirk and Magda now live in Spain, but they would like to live permanently in the beautiful Algarve region in Portugal. They are looking for a large, modern villa with a swimming pool. The couple wants a bedroom on the ground floor at all costs. Budget: 800,000 euros.
- Harold and his son Viktor from Wetteren are looking for an extra holiday home in a surfing paradise because Viktor is an avid surfer. Budget: 160,000 euros.
- Today we are going to Portugal's Silver Coast to look for a nice holiday home for Annick, Toon and the children.
- The successful Antwerp businesswoman Fatima wants to open a B&B on the Silver Coast. She would like to be able to rent out seven rooms, but for herself she mainly needs space for her large wardrobe. Fatima goes house hunting alone but keeps her boyfriend informed by phone. Budget: 400,000 euros.