For Sellers

Selling your property in Portugal

Selling your property in Portugal is basically just as straightforward as buying it. Although there is currently a high demand for property in the Algarve, it is important to familiarise yourself with the market and comparable properties. Patience is an important factor in achieving an optimal price, as unrealistic asking prices on the part of buyers or sellers can lead to a lengthy sales process.

Hiring a local estate agency that you trust can make a significant contribution to making the sales process as easy as possible for you. We will be happy to take care of this and assist and support you, including attending the notary appointment.

For those who are not resident in Portugal, it may also be advisable to hire a local lawyer for legal representation.

Essential Steps

The main steps in the sale of your property, in which we are happy to support you and can also take over some of the work for you, are:

• Assessing the market situation and determining the price of your property.
• Creating a targeted presentation of your property, especially on various internet platforms.
• Searching for potential buyers.
• Organising viewings with potential buyers.
• As buyers usually imagine themselves living in the property or spending their holidays there, we recommend keeping your property in as presentable and clean a condition as possible in the run-up to the viewing.
• Negotiate the price and other conditions.
• Ensuring that all payments, taxes and other obligations (e.g. condominium fees) are paid on time.
• Finalising the purchase agreement and the purchase contract.

Required documents

If you wish to sell your property in Portugal, the following documents are required. These documents are not only required at the notary or purchase contract, but must already be available as a copy when we start marketing your property. We are legally obliged to receive a copy of the documents from you.

However, a legal check is not carried out by Ocean Horizon, but by the buyer's lawyer and the notary.

Required documents:

• Floor plans / project plans (Plantas do Imovel / do Projecto)
• Energy Performance Certificate (Certificado Energético)
• Excerpt from the Land Registry (Certidao Predial)
• Extract from the tax register of the property (Caderneta Predial)
• Habitation / Utilisation Licence (Licença de Habitação ou Utilização)
• Identity card or passport (Bilhete de Identidade / Passaporte)
• Portuguese Tax Identification Number (NIF, Cartão de Contribuinte).

We will be happy to assist you with the compilation and application if you do not have all the necessary documents.

For real estate marketing purposes, we are also obliged to conclude a contract (Contrato de Mediação Imobiliária) between the seller and Ocean Horizon.

Costs of selling a property in Portugal

As in other countries, certain costs are incurred when selling a property. Notary fees and taxes are borne by the buyer, while in Portugal the seller alone is responsible for the costs of the estate agency. The exact conditions are relatively standardised and are set out in detail in the contract between the seller and the real estate agency. If the seller furthermore utilises the services of a lawyer or solicitor, these costs are also the responsibility of the seller. Finally, capital gains are likewise subject to tax ("impostos sobre mais-valias").

Legal notice: The information presented here is not legally binding and no legal claim arises in the event of errors. If you have any legal questions, we recommend consulting a lawyer.