PURCHASE PROCEDURES

To help you understand the legal acts and procedures involved in purchasing a property in Portugal. (It is highly recommended in any purchase, which look for the aconselhamentode only to competent and respectable who are fluent in a language you understand).

You should contact a real estate agent licensed by the Government.

Is a normal procedure at the start of the transaction when the buyer agrees to buy and the seller agrees to sell, celebrate a contract was signed, detailing the conditions of the sale.

So, this agreement is recorded in the registry for legalizes it. (Similar to registry U.K.)

According to the terms of the contract at this stage, you will have to pay the seller a deposit. (The deposit is usually 10% of the total purchase price)

It is advisable and convenient for the buyer to ask a third person he trusts and speaks your language, to act on them. A document called "Proxy" is prepared with the necessary details and notarized. This can also be implemented in Portuguese consulate abroad or by your local notary, after which can be made the translation for the Portuguese language.

All buyers are required to obtain a fiscal number (Contribuinte number) New York P to individuals or to companies N.I.P.C..

There are costs before completion of the purchase, including the I.M.T. (Municipal tax), that value is calculated on the purchase price.

In the case of residential properties, confirm "I.M.T. table" attached below:

IMT tables can be found in article 17 of the IMT Code:

Urban buildings intended solely for the personal and permanent residence

Urban buildings intended for housing

(*) on the upper bound of the step

Personal and permanent residence

The following table applies to the purchase of urban building or fraction of urban building intended exclusively for personal and permanent residence in Continental Portugal. Buildings not exceeding the EUR 92,407 are exempt.

Secondary and housing for rent

In acquisition of urban building or fraction of urban building intended solely to housing, not covered in the above table, in the Continent, the following rates apply.

Autonomous Regions

Personal and permanent residence

Secondary Housing