Selling a property in the Algarve

For our clients we are looking for high-quality properties in the Algarve, Carvoeiro area.

There are a few steps you should follow. Here is a rough overview of the sales process:

Property Valuation: Begin by getting a proper valuation of your property. You can hire a real estate agent or a valuer to assess the value accurately.

Documentation Check: Ensure that all necessary documents related to the property are in order. This includes ownership deeds, land registry extracts, construction and permit documents, tax documents, etc.

Real Estate Agent: Consider hiring a real estate agent to help you market and sell the property. An experienced agent can showcase your property effectively, find potential buyers, and negotiate on your behalf.

Marketing: We create professional photos and information about your property to promote it on our website, property portals, in local media and internationally.

Property Viewings: Prospective buyers will want to visit the property. Ensure that the property is well-maintained and presents well during viewings.

Offers and Negotiations: When you receive an offer, negotiations on the price and terms can begin. Your agent can assist you in reaching a mutually acceptable agreement.

Promissory Contract: Once the terms are agreed upon, a promissory contract (Contrato Promessa de Compra e Venda) is typically drawn up. This contract outlines the details of the sale, including the down payment and the expected completion date.

Notary and Completion: The final sale takes place before a notary. Legal aspects are reviewed, and property ownership is transferred. The buyer pays the remaining amount of the purchase price, and the property is handed over.

Taxes and Fees: Be aware that there are various taxes and fees associated with property sales in Portugal, such as Transfer Tax (IMT) and Capital Gains Tax (IRS). Stay informed about the current laws and regulations.

Post-Sale: After the sale, ensure that all relevant authorities and service providers are informed about the change of ownership. This includes utilities, water, electricity, and others.

 

This information has been compiled to the best of our knowledge and is continuously updated, nevertheless it cannot be regarded as a substitute for professional advice. We do not accept any responsibility for possible errors or omissions.