El proceso de compra

After finding the perfect property and having your offer accepted, you will need to sign a promissory contract with the owner (in this contract, the buyer undertakes to acquire the property and the owner undertakes to sell it at the agreed price and date ).

At the time of signing the promissory contract, a deposit payment is made, generally corresponding to 10% of the total purchase price, and the final acquisition date (deed) is set.

If, for any reason, you are unable to complete the purchase of the property on the stipulated date, you will lose the deposit paid when signing the promissory contract.

On the other hand, if the owner is unable to complete the sale, he will be required to return double the deposit amount.

The promissory contract must be written by a lawyer or solicitor, ensuring that all the elements you want, including values ​​and dates, are duly agreed and detailed in the contract before paying the deposit.

If you want to speed up your property purchase, you can choose to pay the full price of the property in one go, making the promissory contract unnecessary. However, it is advisable to consult your lawyer before choosing this option.

At VIP Algarve Property, we make our bilingual team available in both the sales and after-sales sectors, to accompany you throughout the property acquisition or sale process, ensuring a smooth experience.

We dedicate ourselves to transforming your dream into reality.