Reserving a Property

Once you've found your VAP Property, be ready to make an offer. This routine allows the buyer to make a realistic offer through the agent who showed you the property. Your VAP Agent will proceed to negotiate, ie reach an agreement where you are happy as well as achieve the satisfaction of the seller. It is vital that at this stage both the buyer and the seller, define what is included in the buying and selling process.

Next, the buyer is expected to hand over a cheque for 5,000 euros as a reservation deposit. Once they have confirmed their intention to complete the purchase, the seller will put their property out of the market.

Other important steps of the Purchasing Property Process in Portugal:

• The Property Purchase Process
• The Promissory Contract of Purchase and Sale
• Public Deed and Registration of a Property
• Living the Dream. Living in the Algarve!