Selling a house in Portugal is a process that may, in many cases, be of some complexity (available documentation, owners, registrations made with the land registry, etc.). To help, we clarify about some of the steps and documents that will be needed for all those who have an interest in selling a property located somewhere in the country. A guide with everything it takes to sell a house in Portugal, with legal basis.
Although each process of selling a property requires a case-by-case analysis and raises its own questions, there are some steps that are necessarily mandatory.
In order to set an appropriate price , you should have an idea of the market value of the property that will be sold. In this sense you can do a market study, comparing with other properties with the same typology, state of conservation, areas and location. The improvements that have been made, the availability of parking spaces, sun exposure and other features such as balconies and storage are also relevant characteristics.
Depending on the conclusions drawn you can set a realistic price allowing you to sell the property within a reasonable time horizon.
Several documents will be required for the various stages of the process of sale of the property - announcement of the property, conclusion of cpcv, request for credit by the buyer, public deed - so the best way to expedite the process will be to gather all the necessary documents in advance possible.
Some of the most relevant documents will be:
This document can be obtained at the Land Registry Registry, allowing to consult the history of the property, the records made on it, including those that are pending, and attest to the ownership of this. The property registration certificate is valid for 6 months and can be requested on the Online Building platform, with a cost of 15€.
The Building Booklet is also known as a matrix certificate. This document reports the tax situation of the property as well as other relevant information such as the location, description, identification of the owners and property value, which will allow the calculate of the Municipal Property Tax (IMI).
This is the document that describes the type of use for which the property is intended, that is, whether it has a housing or non-housing purpose. To issue it, it is necessary to go to the City Hall of the region of the property.
The plan of the property is the document that attests to the exact distribution of the property, with raw and useful areas, besides containing information inform about the size and location of the garage, storage, etc. It is possible to consult the plan of the property also next to the City Council.
The Energy Certificate is a document that assesses the energy efficiency of a property on a scale of A+ (very efficient) to F (inefficient), issued by technicians authorized by the Energy Agency (ADENE). This document is mandatory since 2013 for those who want to sell or rent a property.
This document contains the information of the architectural design, characteristics of the work and describes changes made in the construction of the property. If the property was built before March 2004 this document may not be necessary. If you need a second way, you must request it from the City Hall for a fee.
After an agreement has been reached with the buyer regarding the price and form of payment, prior to the signing of the public deed of purchase and sale, and for the purpose of binding the parties to the future business, it is recommended to conclude an agreement called a promise of purchase and sale contract , by which each party will establish the terms and conditions for the purchase and sale, committing itself, in accordance with it, to the conclusion of the future business, in which the property will be transferred to the buyer.
In a promise of buying and selling contract, the conditions of the business must be established, such as:
This type of agreement is not mandatory; however, this is a common procedure where the buyer needs to resort to bank credit or, for any other reason, the definitive contract cannot be immediately awarded.
The contract promise of purchase and sale should always be carefully reviewed by a qualified professional since in our professional practice we sometimes encounter situations in which the unsuitable wording of this type of contract resulted in the loss of the value of the signal given by the buyer, who, in some cases, it may reach 30% of the total value of the property.
The deed of purchase and sale may be carried out in notary's office, land registry or even through the Casa Pronta service, a set of one-stop shops created by the State so that, in them, it can be dealt with all the formalities inherent to the purchase and sale of a house.
It is important to remember that the settlement of IMT (Municipal Tax on Onerous Real Estate Transfers), stamp duty and acquisition costs are the responsibility of the acquirer.