Guide to Selling Property in Portugal
The real estate crash of 2007 is a far distant memory for Portugal re sales as 2015 seen record sales and 2016 looks to follow that trend. That said if you want to sell a property in Portugal fast it is still very much a buyer’s market. And marketing into as many cash rich countries as possible is the key to sales.
To sell a Portuguese property it needs to be prices realistically so it should never be more than 5% above what similar properties in your area are advertised at or you will lose buyers. There is allot of investment coming into Portugal now from the cash rich Russian and Chinese buyers in search of the residency permit ( Golden Visa ). So make sure your estate agent markets to these countries as well as the UK
Portugal offers the overseas property investors warm climate all year round and is regarded as one of the safest places to live in Europe for expats and foreign tourists. Not only this but Portugal boasts the lowest taxes and property transaction costs in Europe which is a huge advantage in re selling your property.
This is why Portugal is now top of the list for buyers from the UK, Russia, China and overseas so there never has been a better time to sell as statistics show 2016 will be a record year for re sales on the Portuguese real estate market.
So here are a few tips to help you get the most out of your sale and attract buyers as quickly as possible.
Marketing outside of Portugal is the most important thing.
Most agents in Portugal are not pro active and depend on walk in clients during summer season. If you want to sell hire an online expert in Portuguese re sales. Statistics show those who market on multi lingual sites attract buyers from the UK, Russia and China. So do your research and find a real estate agent that does just this. You can also use Facebook, property forums and property blogs. The more exposure you get the more likely hood of a sale.
Presenting the property Online and on Brochures.
Get excellent photos taken and a full written description of the property. The more information you have the better your online adverts and brochures look to buyers. If you have any repair work to do get it done. Cash rich buyers from the UK, Russia and China want properties ready to move into. If you have a villa hire a gardener to make the grounds as appealing as possible and tidy up all the rooms of your property to give them a fresh feel.
Inter acting with buyers.
At all times be polite to the buyers during the inspection trip and make sure you can meet them at any time. This is a key fact in re selling as most cash rich overseas buyers have busy schedules and need to meet at unsociable hours. Never look or feel desperate to get rid of the property as this will result in low offers. The cash rich buyers are savvy and will pick up on this.
Hiring legal help.
When you and the buyer agree on a price your estate agent should be able to recommend you a reputable lawyer or solicitor who will take care of all sales contracts and negotiations. The legal team you hire should be multi lingual and all paperwork needs translated into your language. Your solicitor will help with all legal documents to make sure the transfer of ownership runs smoothly for both parties. When we find you a buyer we will recommend a good firm.
We can help with every aspect of reselling property in Portugal.
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