All Forum Posts by: F. De Rop

Buying Process Portugal
The purchase process for a home has three phases, the orientation, negotiation and purchase / completion phase.

Point-wise, the process in Portugal as follows:

Orientation phase
- The buyer shall first clearly define what he wants:
- Full time, part-time live
- Whether part-time hiring
- Type of location
- Type of accommodation (villa, apartment, rooms, etc.)
- The buyer provides a budget, taking into account additional costs
- Search in the (large) supply of housing
- A selection of homes to visit

If a "click" with a house following the negotiation phase.
- The buyer makes a bid
- The seller (or broker) with a counter proposal
- Consulting on charges of movable property
- In line asks the seller a deposit
- A lawyer turned independent

Now you with the purchase phase, the lawyer will do its work (see right), then follow the following actions:
- Request Fiscal Code
- Signs agreement for sale
- Payment of deposit, legal fees and IMT
- The lawyer is not any formal research
- Payment balance purchase price and legal fees
- Signs definitive purchase agreement at the notary
- Registration in the land

Beware of bloopers

Errors in the buying process can be costly. Typical example:
These cozy Portuguese on the terrace did a bit of luck, the magnificent town house of his uncle was only
€ 210,000 for sale, but ..... There are more pirates on the coast.
The next day the potential buyers see and it was indeed a beautiful house. He negotiated and what amounted to € 190,000. The cozy Portuguese wanted within two days 10% to the house of the market, and he also knew a good lawyer. Copper is introduced to the lawyer and makes about € 19,000. Copper heard nothing, phoned the lawyer who told coolly that the house stood in the name of
3 people of which there was a trace. Sale could not proceed. The lawyer advised to go to law, but said there that it could take three years and the likelihood that the money would be repaid was very small.
Money away, expensive joke!

Best regards
Frank
con2web

About the house of his dreams may have found preparations for the purchase arrangements. These are essentially the same as in the rest of the world, the differences lie in the details.

The role of the broker
In France, the broker a less prominent role . It is much more common for the seller directly to negotiate than in our country. For foreigners it may be useful to a broker to turn.
This is a French broker, or a Dutch broker with experience in France. Note in all cases whether the agency possesses the required professional carte. Only he can arbitrate this document in French real estate. There are many active agents which do not have such a document, do not go with them into the sea. For all brokers is that it is unwise for the money to buy them about it. Do this only the third known account of the notary. The latter is the French disciplinary.
In contact with the vendor, it is important to ask the so mandat. This is important because it proves that the broker by the owner of the property is entitled to sell the house or taking to mediate.
The commission of the broker - scale - is high in France, count on 5 to 10 percent. Some research can pay, there are big differences between the rates of the various offices. Sometimes the price of the house, including commissions, then commission comp Risse (CC) is included. Vendeur just means that the price excluding brokerage commission.

Purchase Process
When buying a property in France, it is important to be alert. The many variations of forms and documents can easily sneak ambiguities in the process later problems. Speak the language well enough yet, let yourself be assisted by a consultant.
If parties agree on the price of the house then written to purchase a registration event. It is advisable that preliminary purchase agreement by a notary to draw up and deliver them to register in the register. The contract offers various possibilities to include conditions precedent, please make use of. Ensure that the agreement in any case contains a condition subsequent funding, which means that the sale does not go ahead if the funding does not get around. The presence of easements, the completion of the home without tenants or the presence of asbestos as a condition precedent may be included. In France, moreover, speaks of conditions precedent (conditions suspensives) to purchase. Otherwise you right from the signing of the contract owner. In France, you are indeed the owner at the time of writing you agree with the seller .. The agreement for sale or compromis de vente is no standard, it is important to understand the exact text. For example, sometimes the contract included the provision that the vendor indemnify from liability for any latent defects. It is also known that some brokers allow their agent at any time be paid, even if the sale falls through. Make sure the entire document is read by a competent person, most problems in practice caused by the things that - at the request of the seller - not to stand.
Finally, make sure it is clear what was purchased. About misunderstandings arise regularly. Shows that the seller is beautiful bath on feet it took while using the bathroom as an integral part of the saw.
It is wise to include in the compromis de vente to define the period within which the notarial deed in which the contract is officially set to be signed, otherwise the procurement process unnecessarily long.
The French law has also a reflection of seven days, the délai de retractation. You can use it by registered letter with acknowledgment of the seller to let them know that you refrain from buying.

Attention! In older houses, the water from lead pipes still exist, this may lead poisoning concerns. Let an expert check it if necessary and keep the budget account of the removal of the pipes.

Attention! The agreement should also indicate that alterations in the past - ten years ago - according to building permits have been implemented. Is this not the case, for example, very difficult to get a building permit.

The role of the notary
Buyer and seller can each have their own solicitor or notary a common switch. The offer of French notaries can be found at [LINK REMOVED]. Much information about the way the notary - in English - is also available on [LINK REMOVED] The rates of the solicitor's firm and consists of a fixed percentage of the selling price depends on the type of property. The attorney may also mediate in obtaining a mortgage, there are extra charges. Count on about 5 percent over the first 45,000 euros of the value of the property and 2.5 percent on the excess above 45,000 euros. It must also be payable for the registration in the property registry.
The notary date of receipt of the compromis de vente about 2 to 3 months required to carry out its duty to investigate. For the transfer, the buyer receives the concept of the transfer deed. This must be complete and not yet to complete such information. Is everything correct, then the document to the notary by the buyer and seller signed.

Valuation
For sale is a good valuation of the property to be made, often, the bank holding the mortgage here are requesting. For the valuation report or a building you should enable an independent architect, who is a member of the Ordre architects, see [LINK REMOVED].The rates for valuations may vary significantly, demand bids at various appraisers.
Consultation with the lender what demands he imposes on the report.

Caution: Insurance
By signing a compromis de vente, the buyer are in principle the owner of the property, which means that your home should include insurance against fire and theft. The policy is usually compulsory in France for property liability insurance included, check this.

Caution: B
Sometimes a lease purchase agreement a clause that only allows for example through the brokerage firm or an affiliated organization .. Find out the exact terms. Such a determination limit your freedom to the home to family or friends rent. Often must bear the promised returns are not achieved.

! Note: Surface
The area of the home and garden such an indication. In reality, they are larger or smaller than indicated. Measure to buy another one and hard. After the sale you can about the seller often does not get more compensation.

Best regards
Frank :idea: