Typically, the Portuguese don't tend to have a property survey/snag list carried out on a property purchase; thus, it may be hard to find a property surveyor in Portugal. It is becoming increasingly common for homebuyers to conduct a survey, primarily as more and more foreigners invest in Portugal.
What exactly is a property survey?
A property survey is a qualified assessment of a property's condition and identifies potential buyers' issues. This report is prepared by a surveyor who visits the property, inspects it, and makes a report which describes any problems found. Homebuyers typically survey a property after the seller has accepted the offer.
Is a property survey essential?
When you are spending plenty of money on purchasing a new home, a survey may feel as if it is an unnecessary expense. However, it's best to be conscious of any issues before buying a new home. Therefore, you can make an informed decision on how much you are willing to spend on repair work and how much to budget.
The information received from the property survey may also be used for negotiation purposes. For instance, you may negotiate a further 10,000€ below the property price if the survey report finds that you will spend 10,000€ on repairs.
How long does a property survey take?
It usually takes 2-4 hours to complete a property survey; this also depends on the building's measurements and the surveyor's accessibility to various property parts. It is essential to ask the surveyor in advance what access they will need to ensure that this is available when they visit. It will not only ensure that the survey is conducted rapidly but also so that they do not neglect or ignore critical areas.
What are the costs of a property survey in Portugal?
The costs for property surveys in Portugal may be between €500 and €2000, depending on the property's location, size, and the type of report required.
When will the report be ready?
It will likely take 3-5 working days to generate and deliver the report once the survey has been completed. This may vary based on the property condition, size, and how busy the surveyor is.
Need assistance with getting a property survey done?
As we briefly touched on property surveys, we understand that it may be challenging if you don't speak the language and don't know where to start. If you require assistance in connecting you with a surveyor, feel free to reach out to us.
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The Kuabit team has helped people buy real estate, mainly in the Algarve, Cascais, Lisbon, and Silver Coast. We´re happy to clarify any doubts that you may have. Reach out to us, and we’ll respond asap.
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