Buying Property
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Buying property in Portugal is easy with the proper advice and guidance. JW Develpoments will help you find the right professional advisors to provide:
- Legal advice to ensure legal and planning enquiries are conducted and a proper private contract negotiated
- Tax advice on the most tax efficient way to structure the acquisition of the property
- Financial advice on how best to finance the acquisition
These are the 4 short steps to owning your own place in the sun!
1) Reservation
Complete a Reservation Form and pay a deposit. There will be conditions attached to the Reservation Deposit which should be carefully read and understood.
2) Inspection Visit
Our company will reimburse clients who purchase a property. This will apply up to a total sum of €1000 only subject to terms and conditions or any other offer.
3) Promissory Contract
(Contrato Promessa de Compra e Venda)
In order to arrange the Promissory Contract of Sale and Purchase, the details previously given on the Reservation form together, with the terms of purchase are then included on a simple contract with an English translation, in order that all parties understand the formal buying process. A copy of this is forwarded, to the client and their chosen lawyer. Upon signing the contract, an agreed deposit normally 20%, will also be required and the purchaser, will be then legally bound to purchase the property. Some contracts may include stage payments, where properties are under construction.
4) Deed and Registration
Once your property is complete, a deed (“escritura”) is booked and the property is transferred to you on payment of the final balance due. The property is then legally yours!
My Portugal, yours to Discover !
If you have questions that need answering please fill out our On-Line Query Form and we will be happy to assist you with your individual needs.