Embarking on the journey of purchasing property in Portugal? Let us be your trusted guide through the process. At Immo Lusitania, we make the buying process straightforward and seamless, ensuring you secure your dream home with ease. Here’s a step-by-step breakdown:

1. Letters of Intent: Once you’ve found your ideal property and negotiated a deal, our agents will prepare “Letters of Intent” for both you and the seller. While not legally binding, these letters outline the agreed-upon terms and conditions.

2. Due Diligence: Our experienced legal team will conduct thorough due diligence on the property to ensure all paperwork is in order and there are no obstacles to the sale. Your peace of mind is our priority.

3. Promissory Contract: The legally binding Promissory Contract (Contrato Promessa de Compra e Venda) is then prepared by our legal experts and signed by both parties. This contract typically involves a deposit of 10% of the purchase price from you to the seller.

4. Final Deed: The Final Deed (Escritura) is signed at a notary’s office, officially transferring ownership to you. Our team will handle all necessary paperwork and ensure a smooth transaction.

Buying Costs for Privately Owned Property:

• Legal Expenses: Typically 1-2% of the purchase price.
• IMT (Property Transfer Tax): Variable, up to 6.5%, or 7.5% for properties valued over EUR 1 million.
• Stamp Duty: 0.8% of the purchase price.
• Notary & Registration Fees: Usually between EUR 1,000 – 2,000.

Buying a Property Held in a Corporate Structure: Similar to privately owned property, our team will guide you through the process of due diligence and contract preparation. There are no additional taxes such as IMT or Stamp Duty for corporate-owned properties.

Know Your Customer (KYC): We’ll assist you in navigating KYC procedures to ensure compliance and protect against fraud. Our team will guide you through the necessary steps, making the process seamless and stress-free.

Total Transaction Costs: Budget between 2.40% to 10.80% of the purchase price for transaction costs, including legal fees, taxes, and registration fees. We’ll provide you with a detailed breakdown to help you plan effectively.

Understanding the buying process and associated costs is essential for a successful property purchase in Portugal. Let Immo Lusitania be your partner in finding your perfect home in this beautiful country. Contact us today to begin your journey to homeownership in Portugal.