Lisbon Real Estate, your Real Estate Agency in Lisbon

Real Estate Sale Listings in Portugal !

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Lisbon is the capital and the largest city of Portugal, lying in the western Iberian Peninsula on the Atlantic Ocean, and the River Tagus.  Most of the Portuguese expeditions of the Age of Discovery left from Lisbon during the 14th and 15th centuries. Today it is a city of contrasts and one of the greatest cultural center of Europe.

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  • "Thank you to Albertina for his excellent services, I am thrilled to now be an owner in Lisbon"

    Marie C. - Neuilly sur Seine


  • "Albertina was the perfect real estate agent for us, like she will be for you. She is serious, always listening, rigorous and with an amazing knowledge of the local real estate market. Our family warmly thanks him for the dream property he helped us find. "

    J.C.L - Orleans


The Buying Process


The Booking Contract

Once that you have found your dream property, you must make a purchase offer. In return, the seller may counteroffer, thus beginning a negotiation process which will lead you to the final purchase price.

When both parties agree to the selling price, you will need to confirm your decision with a Booking Contract. A first deposit will then be negotiated with the seller (between 0.5 to 2% of the price). Then there will a 2-week delay allowed, during which the current owner is not allowed to sell the property to another buyer, in preparation of the signature of a Promise to Sell.

 Fiscal Enrollment and Bank Account

The Buyer must possess a Tax ID number in Portugal in order to purchase the property.

We will accompany you through this process with the Tax Offices so it can be easily done, without translation problems. 

There are two ways to open a Bank Account

immobilier lisbonne  This can be done during your stay in Portugal. We can provide you with the name of several Bank Agencies who have bilingual staff.

immobilier lisbonne  If the financing of the purchase is made by a Portuguese bank located abroad, that bank will take care of opening the account, simply asking you for your preferred branch location. Thus, all documents linked to your account, including your credit/debit card, will be sent to your primary home by the Portuguese Agency.

 

Promise to Sell:

A Promise to Sell Contract “Contrato Promessa de Compra e Venda” will have to be prepared before the sale can be legalized by the Notary.

The Promise to Sell outlines the rights and duties of both parties, the agreement conditions and also sets forth the amount of the first deposit payment to be made to the Seller. In order to make the contract enforceable, you must go to “Conservatória de Registo Predial do Imóvel” (This costs approximately 260€)

A second down deposit will have to be paid to the Seller, to reach approximately 15 to 20% of the total price, corresponding to the minimum required by the lending institution. (see “How to get Financing”).

 Our Advice:

In Portugal, the cancellation clause for non-approval of financing does not exist. It is crucial that such a clause be added while writing the Promise of Sale Contract.

This clause must plan for a financing approval within a determined period negotiated with the Seller. We advise that you negotiate between 75 and 90 days. 

If you do not receive financing approval within this time limit, there are 2 possibilities

immobilier lisbonne  Either the financing of the property has not been approved, in which case you must immediately inform the Seller so that he can reimburse the initial deposit within 10 days.

immobilier lisbonne Or the financing is delayed for administrative reasons and you need to negotiate a time extension with the Seller. In this case, a penalty applies (for example 40€/day)

The Signing of the Public Act

The property turnover is made legal only once the Public Act is signed, which can be conducted by a Notary (Private Notary) or a Lawyer (Private Certified Document). All legal documents are checked by the Notary and read aloud (this can be done in another language than Portuguese), before the final signature by both Buyer and Seller.

Before signing in front of the Notary, according to your choice of banking establishment, an account will be opened directly in Portugal at the agency that you have chosen and the funds for the purchase will be wired into the account a few days before the sale. 

Administrative Registration and Taxes

Once the Public Act has been signed, the property must be registered, by the Notary, with the name of the new Owner on the Land Tax Register of the property location.

Then, the Buyer will finally have to pay the tax on Real Estate Transactions, called IMT (Imposto sobre Transmissões Onerosas de Imóveis). This tax is calculated as a % on the highest value between the sales price or the tax service assessed value. Once the percentage has been confirmed, the Portuguese State provides a tax allowance, according to the property location and its final use (main or second home, continental Portugal or islands).

Taxes due, before the sale is completed:

A- 0,8% Fiscal Stamp on the property price.

B- IMT (real estate transaction tax)

 

Main Residence

%

Fixed Deduction 

Value below 92,407€

1

------

Value between 92,407 and 126,403€

2

€ 1.848

Value between 126,403 and 172,348€

5

€ 5.640

Value between 172,348 and 287,213€

7

€ 9.087

Value between 287,213 and 550,836€

8

€ 11.959

Over 550,836€

6

No Deduction

 

For example

• Main home, sold 200,000€: 200,000€ * 2% - 9,087€ = 4,913€ IMT to be paid.

 

Second home

%

Fixed Deduction 

Value below 92,407€

1

------

Value between 92,407 and 126,403€

2

€ 924

Value between 126,403 and 172,348€

5

€ 4.716

Value between 172,348 and 287,213€

7

€ 8.163

Value between 287,213 and 550,836€

8

€ 11.035

Over 550,836€

6

No Deduction

 

For example

immobilier lisbonne  Second home, sold 200,000€: 200.000€ * 2% - 8,163€ = 5,837€ IMT to be paid.

Notary Fee

Approximately 1,000€

Note that it is possible for the Buyer not to sign a Promise to Sell and to enter directly into a Sale Contract: “Contrato de Compra e Venda”.

immobilier lisbonne  In this case, the signing of the contract (“escritura”) will be done in front of a Notary (“Cartório Notarial”). It is important to know that in Portugal, a Notary is a Public Officer, working for the State. You will thus find his office in the City Hall of the property location. This profession is very strictly controlled by the State (www.notarios.pt).

immobilier lisbonne If you are financing your purchase, the Notary will register a mortgage for the Bank at a cost of 142€. However, the cost of signing the Sales Contract only will be 175 € (or half, if your funds go through a PEL “Conta poupança habitaçao”, to which you need to add 0,50 €/page + a fiscal stamp whose value represents  0.8% of the sale price + a borrowing fiscal stamp at 0.6% for every 5 years)

* How to request an exemption on the IMT: the new owner has 60 days to claim a tax exemption at his local Tax Center (“Finanças”). You will be exempted for X years, according to the fiscal value of the property.

           Fiscal Value………………….........Exemption Period

  • Up to 150,000€...................................6 years
  • Up to 225,000 euros............................3 years

* As you pay your mortgage, do not forget to register by how much the actual amount of your debt diminishes. Once your mortgage is fully paid, your Bank will provide you a document called "Distrate da Hipoteca" that you will need to register at the “Conservatória do Registo Predial”.

We strongly suggest that you seek the help of an interpreter, a registered lawyer (www.oa.pt) or a solicitador (www.solicitador.net).