Buying a property in the Algarve can be a relatively straight forward process. With the right preparation you can enjoy staying in your own place in the sun before you know it. Here are some tips to avoid problems.
Always deal with a Government licensed real estate agent. INCI is the governing body of estate agents and constructors in Portugal. They allocate a unique license number to each company, which must be displayed in their office and on all advertising. For example, our license number is AMI 6232.
In addition, licensed estate agents must have professional insurance coverage which together with other guarantees makes them accountable for their actions. They are also obliged to check the ownership and documentation of a property. All documentation of a property should correspond with the actual property as seen. Contrary to many other agencies who list properties which they have not seen personally and have no documentation of in their offices, you can rest assured that all properties on our website have been visited and listed by our own consultants and the documentation of each property has been checked by us for accuracy. At Land and Houses Algarve we know your time is precious. Our multilingual associates are in direct contact with the owners of a property listed on our website, so you can rely on us that no time is lost dealing with third parties who need to arrange a viewing appointment on your behalf.
For added security and peace of mind, we always recommend that you hire the services of a lawyer. We know many reputable lawyers in the Algarve who can assist you in your own language. Most of the time we would advise you to select a lawyer from the same council as the location of the property. Local rules, regulation and the way a property is described in documents varies from council to council and can also change from time to time. It is more likely for a local lawyer to be informed about these matters.
Furthermore, once your offer on a property has been accepted we recommend that you hire the services of a chartered surveyor. If there are any serious issues with the property, you can decide to pull out or alternatively renegotiate the price to compensate for the repair work. Just like your lawyer, a surveyor will give you his unbiased opinion about the property you are about to purchase.
Our consultants can provide you with a cost overview associated with the purchase of your property, which includes the property transfer tax (IMT), stamp duty, notary fees and registration cost of registering the property in your name. We can provide you with a simulation of costs free of charge.
Covering the whole of the Algarve as independent real estate agents, we can provide you with unbiased advise when you decide to purchase a property and can introduce you to a wide choice of reputable mortgage banks, architects, lawyers, builders, chartered surveyors and interior designers.
Our tradition of service and quiet professionalism means that we help make the homeownership process as easy as possible. Our multilingual associates are experts at walking you through each step of the buying and selling process, leaving you with pleasant memories.
Whatever your ideal property, Land & Houses Algarve – Yellow Homes will be able to meet your needs. We would be very pleased if we could help you finding the right property.