Fees for house purchase

[Stoort]

I have seen huge price variances for purchasing a property in Portugal.

How much would you expect fees for a renovated property costing €48000

(as second home?)

Would €1500 cover it?

Does the Escritura have to be purchased in the same region as you are buying?

[canoeman]

Stamp Duty @ .8% 384€
IMT @6.5% 3120€
Notary fees & registration with Conservatoria depends on who you use but allow 4-700€
Solicitor ?

So no, €1500 isn't enough.
Escritura can be done anywhere in Portugal but as all property owners or their representatives must be present it would normally be done in area of property, you don't have to be present and can be represented by someone with the correct POA.

[canoeman]

Just to recap little unclear what you mean by renovated property, if property has classification as built pre 1951 or a Habitation Licence then as a second home IMT would be 1% if in purchase price band up to 92,407€ so for 48,000€ would be 480€ so still very tight to come within 1,500€

[Stoort]

Originally Posted by canoeman

Stamp Duty @ .8% 384€
IMT @6.5% 3120€
Notary fees & registration with Conservatoria depends on who you use but allow 4-700€
Solicitor ?

So no, €1500 isn't enough.
Escritura can be done anywhere in Portugal but as all property owners or their representatives must be present it would normally be done in area of property, you don't have to be present and can be represented by someone with the correct POA.

I'm puzzled.... my cousin has just bought a €100000 property and her total fees...

came to €2400.... that was everything

[canoeman]

They might have been, you quoted my 1st post, did you look at 2nd the IMT depends on what you buy

Stamp Duty is paid on any property or land purchase @ .8% of Escritura price
Property is banded for IMT, same % but different deductions for Resident or Non Resident, land and rural (barns) either 5 or 6.5% of price no deductions.

Just a point here don't be tempted to do any under the counter deals, it comes back to haunt you if and when you sell as all CGT is based on price stated in Escritura

Band 1 up to 92,407€ 0% 0 deduction N/Resident same
Band 2 92,407 to 126,403 IMT 2% 1848.14 deduction N/R deduction 924.07
Band 3 126,403 to 172,348 IMT 5% 5640.23 deduction N/R deduction 4716.16
up to Band 6

100,000 price
Stamp Duty 800€
IMT as Resident @2% = 2000 less 1848.14 = 151.86€
IMT as Non Resident @2% =2000 less 924.07 = 1075.93€

so if she bought as a Resident or non Resident she could well have only paid 2,400€, but certain costs are fixed like Notary, registration, its solicitor and taxes that alter costs