The Portuguese Property Transfer Tax / Real Estate Transfer Tax (IMT) refers to the transfer of property, in the case of a counterpart (e.g. the purchase or exchange of property or property rights, such as the right of usufruct or easement). Buyers of real estate (or, in the event of an exchange, the party receiving assets … Read More
Posts By: Carlos Tome
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Promissory agreement
This is the document that obligates the parties to carry out the property purchase/sale transaction under a given set of terms and conditions, in accordance with their respective interests, needs and requirements. It must be adapted to each separate transaction. Any breach of the promissory agreement will result in penalties. The parties must … Read More
Fees and other expenses
When buying a new property, in addition to the price negotiated with the seller and taxes (Real Estate Transfer Tax [IMT] and Stamp Duty), you will have to pay some additional costs involving the warranty deed, notary public and registries. If you are taking out a loan, you may be charged for your credit … Read More
General Information about Buying a House in Portugal
Buying a house in Portugal involves a series of legal procedures and tax obligations. You should go to your local tax office and learn about the property’s financial and tax status. You must find out whether the property is free of any liens or encumbrances (mortgages, attachments, usufruct, rental agreements, etc.). This information is available … Read More