What are the steps to buying a house in Portugal?
ISV Portugal
Last Update 2 years ago
- If you’re planning on taking out a mortgage, then decide which mortgage works best for you. Keep reading this article for more info on mortgages in Portugal.
- There’s traditionally room for negotiating or bargaining, so you want to start by negotiating the price with the seller.
- After the price is agreed upon, you’ll need to make a down payment. The down payment will ensure that the property is reserved and is typically around $6,600.
- We advise you here to sign a Contrato-Promessa De Compra e Venda (CPCV). It’s not exactly a mandatory document, but it does offer both parties a guarantee while you wait to sign the deed. For example, if you’re waiting on mortgage approval or construction.
- For the last step, you’ll need to sign and notarize the property deed or Escritura Publica de Compra e Venda.