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Buying Property - Information

 

he legal regulations are very specific when buying a property in Portugal but it is always advisable to use qualified legal advice in any property transaction.

s to be expected the prices of properties that initially may appear to be similar can vary. The obvious factors apply such as location, size, quality of construction, present condition and local amenities. However, another influencing factor is that sometimes the price of the property has been determined by the seller without taking into sufficient consideration the advice of an Agent.

nly use a Government Licensed Real Estate Agent. This license is granted by the State according to a number of required qualifications on the part of the Real Estate Agent. It mainly serves as a general guarantee that any individual Estate Agent must use certain forms of approved documentation to implement his functions in his profession. The Real Estate Agent is also bonded by the State in the form of an Insurance Cover that may be claimed against in the case of proven dispute.

hen a buyer is considering purchasing a piece or plot of land for the construction of a future home it is important that the property has either a building license or the possibility of obtaining one. This permission can be based on a previously granted license for construction, or a building such as a ruin that is classified as an being an acceptable basis on which a license can be granted. This later situation may also restrict the size of the intended structure

ach Town Hall and Tax Office tend to have their own local interpretation of the laws and regulations and these should be first carefully checked prior to an intended purchase. It is always advisable to make legal and other specific searches prior to acquiring a rural or urban property.

he normal practice is for the seller of a property to pay a commission to an Estate Agent but as this is not a controlled percentage so it can vary slightly from area to area.

The costs involved in acquiring or transferring a property into the name of the buyer are normally all paid by the buyer.

 


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