Simplified real estate buying procedure step by step

- Find the property.

- Negotiate the price and all transaction conditions.

- Instruct/give a Solicitor Power of Attorney to act on buyer’s behalf.

- Obtain all updated documents regarding the property and its owners.

- Carry out inspections and surveys, if it is the case.

- Sign the promissory contract and pay the deposit.

- Pay relevant property tax.

- Complete the sale by signing the transfer deed.

- Update the land registry on buyer’s name.

 

Conveyance as solicitor’s responsibility assumes a decisive role during the entire buying process in order to assure the buyer its successful outcome.

This means, in general, to do the following:

- Obtain all relevant and updated documentation.

- Give advice further to careful analysis of the documentation.

- Draw up all necessary documents.

- Obtain all relevant information from public entities concerning the property.

- Represent the buyer from A to a successful result.

 

 

 

 

 

 

 

 

 

 

 

 

 

Promissory agreement on purchase and sale basic contents

- Both parties ID.

- Real estate ID.

- Aim of the business.

- Deposit and sale’s price and payment form.

- Date or maximum delay to complete.

- Clear statement that the real estate shall be sold without any burden.

- Both parties rights and obligations.

- Specific clauses.

- Consequences and penalties in case of breach of contract.

- Place and time and signatures.

Buying additional costs

- Transaction municipal tax.

- Stamp duty tax.

- Costs of the deed.

- Land registry fees.

- Solicitor’s fee.

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Propunique - Mediação Imobiliária, Lda.

 

Rua Victor Costa e Silva, 6C, Lagos

 

Licença AMI - 10102

 

info@algarveuniqueproperties.com

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