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Are you looking for a guide to selling property in Portugal in 2018? There is a huge demand for properties in Portugal, especially in the Algarve and Lisbon. Lisbon is considered to be the world’s safest capital and the Algarve is Portugal’s answer to the Costa del Sol – it is one of the best holiday spots in Europe.
So who is buying properties in Portugal? There is the usual demand from British expats for properties in Portugal, and it hasn’t gone away even after Brexit. There is also a great demand from buyers from other parts of the world such as China and Russia. Within Europe, there are a number of cash rich investors from Scandinavia, Germany and Ireland who are eager to buy properties in Portugal.
If you have an overseas property for sale in Portugal, you should, first of all, find the right US estate agent to help you find the right cash rich buyer from abroad. An overseas property specialist will have contacts in China, Russia, Norway and Sweden in Scandinavia, Ireland and Germany, to name just a few countries, where you are going to find your most likely all-cash buyer.
They are also skilled in online marketing and will make use of pay-per-click advertising and SEO to market the property for you. Apart from promoting your property to overseas investors, your estate agent will help arrange a survey valuation of the property so that you can set the right price for the property, one that makes sense in the overall context of the neighbourhood and the demand for properties in the region. He will make sure that all of the legal requirements are met and market the property extensively.
There are other things to consider as well, when you’re trying to sell your property in Portugal fast. Let’s take a look.
First, let’s consider the legal requirements related to the sale of your property. You should make sure that all municipal and property taxes have been paid for. You need to furnish the following documents to the buyer and their lawyer: property registration certificate, habitation license, property tax document, energy rating certificate, technical report, and most importantly, the title deed called as escritura.
You can depend on advice on your estate agent for the details related the paperwork related to this process. You may also hire a local lawyer, preferably one who is well versed in both Portuguese and English and has a lot of experience in real estate deals. If you live outside Portugal, your lawyer will draw up a Procuração Publica for you to sign, so that they can act on your behalf during the negotiation process for the property.
You will need to sign a promissory contract called as Contrato de Promessa de Compra e Venda with the buyer when you decide to sell the property to them. This contract is legally binding and commits you to the sale.
The buyer pays a deposit at this point and in case the buyer’s lawyers find that there are no legal concerns related to the property, the sale will go ahead. The last step is to sign the final sales deed called as the Escritura de Compra e Venda. Contact us to know more about the process related to selling your overseas property in Portugal.