Notes for international buyers
The Big Day: the Escritura (Public Deed)
This is the moment you have been waiting for. The "Escritura" is the final act where you officially become the owner of your new property in the Algarve.
WHAT HAPPENS ON THIS DAY? We meet at the Notary (Cartório Notarial). The Notary reads the deed to ensure everything is legal, and both parties sign the official book.
THE PAYMENTS: At this exact moment, the remaining balance of the property price must be paid (usually via bank draft), along with the taxes (IMT & Stamp Duty).
DO YOU NEED TO BE THERE? Not necessarily. Many of our international clients prefer to give us Power of Attorney (Procuração). We attend the deed, sign on your behalf, handle the payments, and simply hand you the keys (and the title deed) afterwards.
OUR ROLE: We ensure the property is sold free of any mortgages or debts and register the new ownership in your name at the Land Registry immediately after the signature.
Written on the date shown. The law and tax figures may have changed since. This article is general information, not advice on your particular case. For questions: info@pedrotabuada.com · +351 923 337 076.