Buying a home is probably the most complex investment you will make and lawyers will offer you legal advice on all possible complications that may arise. Besides the vague and unclear terms, several legal and property deed issues can arise. The lawyer’s role is to guide you through this process. From the start, he will offer you legal advice on the transaction and tax consequences that might come up during the process.
Here at Portugal Homes, we have listened to our clients over the years to find out what legal advice they are looking for in a law firm. Although all lawyers in Portugal are trained in the same way, we believe that firms who deal with international clients daily are much more efficient and complete the process much quicker than lawyers who work mainly in the Portuguese market.
The importance of working with lawyers when making a purchase
It’s important to mention that real estate requires a lot of attention from the parties involved, as there might be unfamiliar processes during this transaction. To avoid inconvenience and loss, it is essential to have real estate legal advice.
The lawyer will oversee all the details of the transaction to ensure that your interests are carried out and that the transaction documents reflect them properly.
Notary or Lawyer when purchasing a property in Portugal?
Have in mind that notary and legal representation are two different terms. While the Portuguese notary will only ensure all property documents are in place and taxes are paid, your independent legal representative will ensure your property and contract interests are protected when you pay the deposit or sign the contract. Depending on the nature of the transactions, before closing the real estate contract, the lawyer should:
Review the Purchase and Sale Agreement and advise you on its legal consequences and obligations;
Obtain an investigation of the title of the property, assess the status of these titles and request the appropriate legal solutions;
Explain possible obligations you will assume;
Help you understand the effect of any existing mortgages or other disposals;
Discuss different financing options;
Discuss how you should obtain the title to the property (personal, joint, or business);
Inform you where and how to obtain the “homestead” exemption (family residence);
Review how to obtain insurance against fire and other types of hazards;
Advise you on how the title should be obtained, as well as the effects it may have on your business.
Legal representation if you are overseas
The real estate purchase process doesn’t have to stop if you need to travel back to your country. If you’re overseas and have invested in Portuguese Real Estate (or are looking to), you will be represented by your lawyers. They should have the power of attorney (POA), which enables them to act on behalf of you during the property sale, the transfer of the ownership, signing of deeds, property rentals or leasing; rest assured your process will be in good hands.
Our mission is to ensure all our clients are comfortable and trust us with their investment.
Besides legal representation, taken care of by your lawyers, Portugal Homes’ After Sales Department can also provide fiscal representation during and after your purchase. All matters related to the Portuguese tax system and your property itself can be taken care of, from attending the condominium meetings to visiting the apartment to check if everything is under the conditions you had previously seen and agreed with. Learn how to become a member of After Sales here.