Sell Your Property
Selling your investment or even your cherished home is more than just a transaction—it's a journey filled with memories, emotions, and aspirations for the future. At Lagos Homes, we understand the significance of this milestone, and we're here to make the process as seamless and stress-free as possible.
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Our dedicated team of experts is committed to providing you with a personalized and attentive service tailored to your unique needs and preferences. From the moment you list your property with us to the closing of the sale, we'll be by your side, offering guidance, support, and expertise every step of the way.
THE PROCESS
How to Sell your Property in Portugal
With our deep understanding of the local market and years of experience, we'll ensure that your real estate goals are not only met but exceeded. Trust Lagos Homes to turn your property journey into a rewarding and fulfilling experience.
Valuation
We start with an in-depth initial consultation in which we discuss your goals and expectations. We then carry out a thorough valuation of your property to determine its market value and set an appropriate sale price. Ideally, our service will also include a site visit to enable us to make an informed judgement.
Documents
To prepare the sale, we need some important documents:
- Proof of ownership: Land register extract (Certidão de Registo Predial)
- Property tax certificate (IMI - Imposto Municipal sobre Imóveis)
- Certificate of use (Licença/Alvará de Utilização)
- Technical Housing Certificate (Ficha Técnica de Habitação)
- Energy Performance Certificate (Certificado Energético)
Professional Photo Shoot
When working with Lagos Homes, we ensure your property stands out by organizing a professional photo shoot, including video, virtual staging, and drone footage. This comprehensive approach captures your property's essence, showcasing its unique features to attract potential buyers and achieve a successful sale.
Marketing your property
We use various marketing strategies to make your property accessible to a wide audience. These include the use of online property portals, social media campaigns, targeted advertising and the organisation of viewings.
Negotiations and closing the sale
Once potential buyers have been found, we will assist you in negotiating the sale price and other terms with the help of our local lawyer. Once an agreement has been reached, the purchase contract is prepared and the sales process is completed, including the signing of the necessary documents and the transfer of ownership.
The Sales Contract
In this comprehensive guide, we delve into the intricacies of the Portuguese real estate sector, offering insights into its regulatory framework, market dynamics, and transactional processes. From the roles of real estate brokers to the legal requirements governing property transactions, we aim to equip you with the knowledge and tools necessary to navigate this diverse market confidently.
Regulatory Framework
Under the Oversight of IMPIC
In Portugal, real estate brokers operate under the legal regulations enforced by the IMPIC (Instituto dos Mercados Públicos, do Imobiliário e da Construção) and are required to possess a valid AMI license. As part of these regulations, real estate agents must prominently display their license in all commercial communications and are obligated to do so when organizing property viewings with potential investors.
Commission and Fee Structure
Transparent and Flexible
In Portugal, real estate agents typically charge a commission of around 5%, which is included in the sale price. Importantly, there are no legal restrictions on the fees that can be charged. Sellers exclusively cover the costs of real estate agents, meaning there is no cost-sharing between buyers and sellers.
Environmental Impact Assessment
Depending on the project's scale, an Environmental Impact Assessment (EIA) may be required to evaluate potential effects on the ecosystem and receive clearance from environmental authorities.
Real Estate Mediation Contracts
Formalized Agreements for Clarity and Security
A real estate mediation contract, known as CMI (Contrato de mediação imobiliária), is a formal agreement between a company authorized to conduct real estate mediation and its clients. This contract aims to facilitate property deals, including sales, rentals, or exchanges, in exchange for remuneration upon successful deal completion.
Mediation Contract Details
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Detailed description of the property under consideration, including any encumbrances.
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Identification of the mediating company.
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Clear terms of remuneration, whether fixed or percentage-based, including payment methods and applicable VAT rates.
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Indication of liability insurance, financial guarantee, or equivalent instrument.
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Identification of the real estate agent involved in contract preparation.
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Specification of any additional services provided by the company.
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Mention of exclusivity arrangements, if agreed upon, outlining its implications for both the company and the client.
Continue with our guide to the additional costs and expenses associated with the sale, including taxes.
