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  • What is the current state of the Algarve real estate market (2023)?
    Discover the thriving real estate market in the Algarve region of Portugal. Similar to Lisbon, the Algarve region is a strong and expensive real estate market that continues to rise despite the global recession. With a growing demand for properties and limited supply, the market is highly attractive for investors. Act fast to secure the best deals in this competitive market. Valued properties are often snapped up within a few days, making it essential to move quickly. Our team is here to help you find the perfect property and stay ahead of the competition. If you are not a cash-buyer, it is essential to secure financing in advance. To ensure a smooth buying process, obtain a pre-approval from a Portuguese-based bank for your mortgage. With our guidance and support, you can confidently enter the Algarve real estate market and find your dream home.
  • How do I finance a property in Portugal?
    When looking to purchase a property in Portugal, you must secure financing from a Portuguese-based bank. Some of the largest banks include Caixa Geral de Depósitos, Millennium BCP, Novo Banco, Banco BPI, and Banco Santander Totta. It is important to carefully consider your options and choose the best bank based on interest rates and financing options. Currently, Caixa Geral de Depósitos offers 80% financing for foreign citizens, requiring only a 20% downpayment. Other banks may require a downpayment of 30% or more. Our team can connect you with a trusted contact at Caixa Geral de Depósitos. When applying for a mortgage, you will need to provide several important documents, including: A copy of your passport and proof of address If you are employed: last year's tax returns, payslips for the last three months, and a reference letter from your employer If you are self-employed: last three years' tax returns, business bank statements for the last three months, and three years of company profit & loss and balance sheet Proof of other sources of income, such as pension income or rental properties After obtaining pre-approval for your desired budget, we can begin your property search! If you find your dream home, we can help you make an offer and involve the bank in evaluating the property. With our expertise and guidance, you can navigate the financing process smoothly and confidently.
  • There are plenty of property websites, why work with Lagos Homes?
    Discover the ease of finding your dream home with Lagos Homes. Our team carefully selects only the finest properties from hundreds of sellers, saving you time and effort in your search. With a focus on quality, we eliminate the hassle of sifting through countless options. Let us take care of the research and arrange viewings for properties of interest, providing expert advice on site to ensure you make an informed decision. Experience a stress-free home buying journey with Lagos Homes.
  • Am I going to pay extra, working with Lagos Homes?
    Real estate buyers often assume that hiring a buyer's agent incurs an additional cost. However, this is not the case. The services of a real estate buyer's agent are typically provided at no cost to the buyer because the commission is covered by the sales agency. When a real estate property is sold, the sales agency representing the seller typically pays a commission to both the listing agent and the buyer's agent. This commission is a percentage of the sale price and is typically divided between the two agents.
  • Can you outline the property search process?
    Understanding Your Needs: The first step in the buying process is to understand what you are looking for in a home. Lagos Homes will work closely with you to determine your specific needs and requirements, such as location, size, and budget. Property Search: With your needs in mind, your buyer's agent will search the real estate market to find suitable properties that meet your criteria. We will provide you with a comprehensive list of options, along with detailed information about each property. Viewings: Once you have identified properties of interest, your buyer's agent will arrange viewings so that you can see the properties in person. We will accompany you on these viewings and provide expert advice on the properties and their suitability for your needs. Negotiating the Price: When you have found the perfect property, Lagos Homes will help you negotiate the price and terms of the sale. We will use our expertise and knowledge of the real estate market to ensure that you get the best possible price for your new home. Closing the Deal: We will support you to handle the paperwork involved in closing the deal. But in order to secure legal details, we recommend working with our Portuguese partnered law firm. They will work with the seller's agent, lawyers, and other professionals to ensure that the transaction goes smoothly.
A bids eye view of a beachfront with white wash water and a surfer showing describing the more help section offered by the independent real estate buyer’s agent Lagos Homes in the Algarve Portugal

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