VILLA MARE Property Management 

 

"Business should be equitable for both parties!"

"Our staff is comprised of experienced professionals with extensive knowledge to suggest the best alternatives."

"Business should be equitable for both parties!"

We believe that successful business relationships are made through hard work, commitment, trust, personal ethics and honesty. We share our know-how acquired over the years with a tailor-made support: Transparent and dynamic in all aspects, whether buying, selling or renting a property, our focus being the client.

All parties involved are important to us for that reason.

We believe that successful business relationships are made through hard work, commitment, trust, personal ethics and honesty. We share our know-how acquired over the years with a tailor-made support: Transparent and dynamic in all aspects, whether buying, selling or renting a property, our focus being the client.

All parties involved are important to us for that reason.

We believe that successful business relationships are made through hard work, commitment, trust, personal ethics and honesty. We share our know-how acquired over the years with a tailor-made support: Transparent and dynamic in all aspects, whether buying, selling or renting a property, our focus being the client.

All parties involved are important to us for that reason.

Notes:
 

The decision to buy a property in Portugal is a very exciting one, but regardless of whether it is a HABITUAL RESIDENCE, HOLIDAYS, GOLDEN VISA or other, it is important to know the process which, although relatively simple, includes some steps that must be carried out carefully.

FISCAL IDENTIFICATION NUMBER (NIF) - To carry out any official process in Portugal, such as buying a property, opening a bank account or even contracting public services, you will need a fiscal number. Therefore, before you start the process of buying a property in Portugal, you should acquire a fiscal number. For European residents, the request can be made at any Finance Office, upon presentation of a valid Citizen Card or Passport and proof of a valid European address within the last 6 months. For non-European residents, you will need a fiscal representative.
 
BANK ACCOUNT - Although in some cases not strictly necessary, opening a bank account can be helpful and becomes essential for Golden Visa applications. You may need to transfer funds or pay local taxes. The process of opening a bank account in Portugal is quite easy and can be completed with one visit.
   
BANK LOAN OR MORTGAGE - If you choose to finance your investment with a bank loan or mortgage, the loan amount will depend on the bank appraisal price of the property, which is usually lower than market prices. Contact your bank and make sure of pre-approval before you consider buying a property, as the process can take some time.
 
TRANSACTION PROCESS - Once you have found the right investment and the seller accepts your offer, you will enter the transaction process.
 
RESERVATION - A reservation document may be signed in some cases and a previously agreed upon deposit will be paid to the seller. The purpose of the reservation is to take the property off the market to allow due diligence to take place. During this period, the buyer's attorney will review all documents and, together with the cooperation of all parties, prepare the final details of the negotiation.
 
DUE DILIGENCE - The lawyer will take a set amount of time to collect and analyze the legal documents and other necessary information related to the deal. The Promissory Contract of Sale and Purchase (CPCV) is also prepared during this period and discussed by both parties (buyer and seller). The Due Diligence process is essential to avoid future problems related to the purchase.

PROMISE OF PURCHASE AND SALE CONTRACT - After the Reservation and due diligence, the buyer and seller will sign the first official binding document. This Contract will include all information about the identification of the owner and seller and the agreed terms and conditions of the sale. It is also expected that the buyer will make a down payment of 10 to 20% or more of the total value of the deal.
 
PUBLIC DEED OF PURCHASE AND SALE - The Deed is a signed legal document that transfers the title of property from the seller to the buyer. It is done in the presence of a notary, who confirms the validity of all legal documentation before both parties (or their representatives) sign the document. The Deed usually takes place between 15 to 90 days after the CPCV is signed, but this period is usually much longer for those buying a property in a development under construction. Other dates may be agreed upon depending on the availability of the parties. The payment of the remaining amount is made upon the signing of the Deed, after which the buyer assumes ownership and receives the keys.
 
REGISTRATION - After the Deed process, the Notary will proceed with the registration of the new ownership at the Land Registry Office.

Notes:
 

The decision to buy a property in Portugal is a very exciting one, but regardless of whether it is a HABITUAL RESIDENCE, HOLIDAYS, GOLDEN VISA or other, it is important to know the process which, although relatively simple, includes some steps that must be carried out carefully.

FISCAL IDENTIFICATION NUMBER (NIF) - To carry out any official process in Portugal, such as buying a property, opening a bank account or even contracting public services, you will need a fiscal number. Therefore, before you start the process of buying a property in Portugal, you should acquire a fiscal number. For European residents, the request can be made at any Finance Office, upon presentation of a valid Citizen Card or Passport and proof of a valid European address within the last 6 months. For non-European residents, you will need a fiscal representative.
 
BANK ACCOUNT - Although in some cases not strictly necessary, opening a bank account can be helpful and becomes essential for Golden Visa applications. You may need to transfer funds or pay local taxes. The process of opening a bank account in Portugal is quite easy and can be completed with one visit.
   
BANK LOAN OR MORTGAGE - If you choose to finance your investment with a bank loan or mortgage, the loan amount will depend on the bank appraisal price of the property, which is usually lower than market prices. Contact your bank and make sure of pre-approval before you consider buying a property, as the process can take some time.
 
TRANSACTION PROCESS - Once you have found the right investment and the seller accepts your offer, you will enter the transaction process.
 
RESERVATION - A reservation document may be signed in some cases and a previously agreed upon deposit will be paid to the seller. The purpose of the reservation is to take the property off the market to allow due diligence to take place. During this period, the buyer's attorney will review all documents and, together with the cooperation of all parties, prepare the final details of the negotiation.
 
DUE DILIGENCE - The lawyer will take a set amount of time to collect and analyze the legal documents and other necessary information related to the deal. The Promissory Contract of Sale and Purchase (CPCV) is also prepared during this period and discussed by both parties (buyer and seller). The Due Diligence process is essential to avoid future problems related to the purchase.

PROMISE OF PURCHASE AND SALE CONTRACT - After the Reservation and due diligence, the buyer and seller will sign the first official binding document. This Contract will include all information about the identification of the owner and seller and the agreed terms and conditions of the sale. It is also expected that the buyer will make a down payment of 10 to 20% or more of the total value of the deal.
 
PUBLIC DEED OF PURCHASE AND SALE - The Deed is a signed legal document that transfers the title of property from the seller to the buyer. It is done in the presence of a notary, who confirms the validity of all legal documentation before both parties (or their representatives) sign the document. The Deed usually takes place between 15 to 90 days after the CPCV is signed, but this period is usually much longer for those buying a property in a development under construction. Other dates may be agreed upon depending on the availability of the parties. The payment of the remaining amount is made upon the signing of the Deed, after which the buyer assumes ownership and receives the keys.
 
REGISTRATION - After the Deed process, the Notary will proceed with the registration of the new ownership at the Land Registry Office.