Five steps of finding and purchasing Portugal property

Five steps of finding and purchasing Portugal property

Steps of Finding and buying property in Portugal

Buying property in Portugal can be a nightmare, whether you are an old hand or a first-timer. However, the country has a very straightforward set procedure. With a valid passport and a Fiscal Number, you are ready to go. But there are steps you have to follow when buying property in Portugal to help you find a buy what you specifically want. They are:

1. Create a brief

Ace you’ve worked out how you are going to afford the property for sale in Portugal, you need to put together a brief that will help you find the property you want. If you are looking for a property for sale in Lisbon, you should identify the real estate agent who can best help you in the acquisition process.

The recent rise in the price of Portugal property means that it is now a resale market. Properties are now scarce, meaning that it’s possible to find yourself competing for the same property with another buyer. That is why you should include the estate agent who will help you in identifying the property.

2. Find the Right Estate Agent


As already indicated, you must get an estate agent as soon as possible, preferably before you go on a viewing trip. The agent should be reliable, helpful, legal, and, most importantly, understand the Portuguese property market.

A good agent is proactive, operates legally and ethically, offers excellent service, has experience working with foreigners, and stays with you to the end.

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3. The Viewing Trip


For you to get a feeling of what it means to own a property in a particular location, you should visit the area without any pressure to buy property. Take time to explore the place, visit the shops, speak to locals, and check out any attractions.

If, for instance, you want to buy a property in Lisbon, rent an apartment instead of booking a hotel. With a rented property, you will be able to navigate the area to get an idea of the noise level, accessibility to shops, and many other factors.

The best thing about viewing trips is that you can do it repeatedly. It’s not uncommon for those seeking to buy property in Portugal to take a leisurely trip to a specific destination, but intently viewing property. So the leisurely trip will enable you to fine-tune your next trip for viewing property.

 

4. Making offers


After your viewing trip, narrow down your property search, narrow down your options, and determine how you will pay for it. If you have a reliable agent, he/she will help you to negotiate the offers.
Remember that while the price of the Portugal property is fixed in Euros, the price of the same property will vary with the fluctuating exchange rates of the currency you are using. So, it is important to contact a currency exchange specialist before buying the property so that they can give you currency futures options you will use at the time of purchase.

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