STEP 1 – GET IN TOUCH
Contact us and tell us your ideas, objectives, budget, and other requirements with regards to purchasing your new home.
STEP 2 – MEETING / BUYERS BRIEF
An initial meeting is set to get a thorough understanding of your wants and needs and identify the essential property characteristics such as location, property type, budget, proximity to schools, transport, and amenities. We would then put together a comprehensive Buyer's Brief, clarify our services provided, and cover any questions you might have.
This meeting can be done via video conference, telephonically, or face-to-face meetings if you are already in Portugal.
STEP 3 – PROPERTY SCAN / SEARCH
During this phase, we concentrate on finding a home that matches your search criteria, not just any random property. Meticulously we scan through dozens of listings using many different sources such as:
Online real estate platforms
Local real estate agents
Partner agents that may have silent listings & pre-market listings
STEP 4 – SHORTLIST & SUGGESTIONS
A shortlist of properties is provided that we trust suits your needs and specifications.
If you are an overseas buyer and not physically in Portugal, we may provide additional photos and videos of the property, area, street views, and surrounding properties. Listing agents often focus on the positive characteristics and features of the property. However, we also try to recognize potential issues and disadvantages before the purchase. Being comfortable in choosing the right property that fits your needs is what matters most to us.
STEP 5 – VIEWINGS
We make all the calls, coordinate the viewings, and provide you with all the essential information about each property.
STEP 6 – NEGOTIATION | PURCHASING THE PROPERTY
We ensure that you purchase the property at the best possible price. After we have found your suitable property, we will decide on a negotiating strategy. Getting you the most affordable price with the most reasonable terms is our goal.
STEP 7 – RESERVATION
In some cases, the seller's agent will request that a reservation contract be signed where the buyer reserves the property and pays a deposit (usually 5000€). The seller states not to sell the property to another buyer during the reservation period. If the buyer proceeds with the sale, the deposit is deducted from the purchase price. This deposit is usually non-refundable as the purpose of a reservation deposit is to make the buyer commit to the property purchase.
STEP 8 – SALE & PURCHASE PROMISSORY CONTRACT
Normally within 14 days of signing the "Reservation Contract" both the buyer and seller enter a promissory agreement (´Contrato Promessa de Compra e Venda' in Portuguese) identifying the following:
Items included in the purchase, e.g., furniture, appliances, fixtures, fittings, etc
The date of property handover and the completion of the contract
In most transactions, this type of contract is used and is legally binding for both parties. A deposit is paid directly to the seller when signing the promissory contract, typically 10%-20% of the total purchase price. This contract is usually signed at a notary, in case you have signed a power of attorney (POA) in favor of your lawyer, you do not need to be present.
The defaulting party may suffer consequences. In the situation that the buyer pulls out of the sale, he/she will lose their deposit, and if the seller does pull out of the deal, they are required to pay back twice the deposit to the buyer.
STEP 9 – COMPLETION / CLOSING / FINAL DEED
Usually the signing of the final deed (escritura de compra e venda in Portuguese) occurs one to three months after signing the promissory contract at a notary. Closing includes transferring legal ownership, making the final balance payment, plus other payments such as notary fees and the deed registration fee.
The property is now officially yours, and we will arrange the pick-up of keys of your new home and deliver them to your lawyer, property manager, yourself, or any other chosen contact.
In case you have signed a power of attorney in favor of your lawyer, he/she will make you aware of the deed's content, protect your interest, and you do not need to be present.
GET IN CONTACT
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.
+351 936 070 311