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If you’re thinking of buying your dream home In Portugal then Upgrade International Properties can help you. We have set out a guide below to help clarify things:
> If you require a mortgage, it is advisable to acquire insight into your mortgage options from an independent mortgage advisor who will give you a Pre-Approval
> If the availability of your chosen project is limited, you might consider making a reservation (€6,000 non-refundable, payment goes towards purchase)
> Travel to Portugal as soon as possible after making the reservation to assess the project location and environment, or do this prior to making a reservation.
> You will of course be shown around the project site by one of our English/Portuguese speaking staff. This guide will also show you round the area should you wish to explore and is ready to answer any questions you may have.
> After making a reservation, you then need to contact a Portuguese lawyer for professional advice concerning formalities of buying a property over seas. For example, you will need to acquire a Portuguese fiscal number (número de Identificação fiscal / NIF). We can recommend several lawyers should you need help finding one.
> The purchase contract is signed 28days after making a reservation and requires 25% of the total purchase price to be paid.
> Chose the finishes in your home such as the designer kitchen, bathroom and floors etc. These are then recorded in the CPCV or contrato de promesa compre e
> The 2nd payment of 25% of the total purchase price is required to start construction.
> Then comes the preparation of the inventory for your home and landscaping (both of which we can take care of) and also which third party services you require such as internet, digital television and a phone line etc.
> The 3rd payment of 25% of total purchase price is required once your home is wind and watertight.
> Make sure your home is properly insured (preferably just before the property is completed).
>The closing balance is the remaining 25% of the total purchase price and is due on delivery of your property.
> Your Portuguese lawyer will then make the appropriate arrangements regarding the transfer of property at the Portuguese register (Condervatorio Predial).
> Then complete the inventory and write down when third party services are to be connected.
> If it applies to you, activate the status of your rental property with our rental partner Sparcs and / or subscribe your house to our optional service management.