Selling Process

Selling a property in Portugal

One of the most important parts of selling your property in Portugal is finding the right real estate agency. Some agencies offer a huge number of properties in all parts of Portugal. On the other side, at Portugal Homes we focus in areas we know best, offering buyers our unrivalled services.

When selling a property in Portugal most of the work is done by the lawyers of the buyer, it’s not mandatory for you to have a lawyer when selling, however it is advisable. The first part in selling your property is listing it with a real estate agent, you will need to make sure all your documents are up to date and that any alterations that have been made are registered with the municipality. In order for us to help you on the selling process, please fill our the form below.

Due diligence report

When the agency has found the right buyer for your real estate and a price has been agreed, you will need to take a lawyer/solicitor. They will help you translate the contracts and documentation, and will translate for you at the notary at the final deed. The lawyer will help you check if you have all the needed documents, and would help you or advice what additional documents you may need.

In the next step, the buyer’s lawyer will carry out a due diligence report on his behalf and draw up the promissory contract. This usually takes between 2-10 days but can be different depending on the situation.

 

Promissory Contract

After the due diligence period, the first legal binding contract on selling property is signed. This contract is signed by you and the buyer, and is the first legal binding contract. On promissory contract, you will receive the deposit, which is usually between 10-30%. As this contract is legally binding, the deposit is non-refundable.

 

Final deeds

About 30 to 60 days after the promissory contract, depending on the situation, the final deed is signed and the remaining balance is paid. This process involves the seller, the buyer, the lawyer, and the notary. Your lawyer will be there mainly to check the contract on your behalf and to translate into your preferred language. The notary guides the process for both parties at the final deed, after which you have officially sold your property!