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Buying / Finance

smarticon has teamed up with Smart Currency Exchange to help clients and customers save on their currency exchange transfers and international payments: They are the UK’s only currency exchange specialists that work specifically with people buying overseas property. Further, they are also the only currency company that doesn’t pay their specialists on commission so you can rest assured that your appointed currency trader will offer the best rates. Before buying a property overseas, you will need to purchase currency to pay for the property. There are two options available when purchasing and transferring currency – you can use your bank or take our recommendation and use the services of a specialist currency exchange provider. To find out how! then click on the currency convertor link ---->

BUYING Preparation

Buying a property in Portugal is a simple business transaction.
When you’ve settled on the property you want you’ll need to choose a qualified lawyer to represent you. We can recommend a local lawyer should you so wish.

Fiscal Number (Número de contribuente)
If you are buying a property of any kind you will need a fiscal number. The process is not complicated and can be handled by your lawyer.

Power of Attorney
Once you have instructed a lawyer to act on your behalf we highly recommend that you assign them as power of attorney particularly if a mortgage is involved. This allows your lawyer to apply for the necessary paperwork on your behalf and will save you many costs in the long run

Before contract
Once you have paid your reservation fee and signed an offer and reservation form and prior to signing the promissory contract, you should instruct your lawyer to undertake thorough pre-contract enquiries. If money has changed hands it will be very difficult to retrieve it if the title is not subsequently in order.

A vendor should have a complete set of title deeds that show that the vendor is the person legally entitled to sell and that the property sold is the property the purchaser has agreed to buy.
The property should have a valid habitation license that is similar to planning permission and confirms that the local authority has approved the construction of the property.

The purchaser’s legal representative will enquire and check the following:

  • Land registration
  • Ownership
  • Title
  • Description of property
  • Mortgages / Encumbrances
  • Related charges
  • Third party interests

Interested in finding out more? then please complete an enquiry form View enquiry form