Tips for home buyers

[ofilha]

Originally Posted by omostra06

Hi ofilha, Yes I do own a INCi registered Estate Agency, we have a main office in Tomar central Portugal, with 8 other satalite agents working for us in various other locations around Central portugal.
I cant post details of my company here as it would be advertising, but if you browse the Portugal Classifieds Marketplace Section of the forum above, you will find us.

The link at the bottom of all my posts is not for our Agency, its to our Marketing Company´s Portugal information website.

Thank you omostra06. Question what are the requirements to become a real estate agent in Portugal. The reason i ask is because i am looking for something to do when i retire and move to Portugal. There are plenty of things to do, but i would like to also earn some money. And real estate sounds like fun so i have been mulling the idea of getting a real estate license in Portugal. Can one do this part-time? Thanks again.

[omostra06]

You can do it part time, but the type of job it is, to do it properly and offer a high level of service you have to work all the time, a normal working day for us starts at 8.30am until the office closes at 7.30pm ish, then a further hour or two at home answering emails. we get Sunday off sometimes. in 3 years I have taken 4 days Holiday. so it does consume a lot of time working in real estate. I drive around 650 klms per week showing properties.

You need to sit an exam to get your license, then form a company to get a ami number/license, you can work in a partnership with someone who already has a license.

If you want to work in real estate why not think about working with an already established company, learn the job with them, then think about starting your own company after a while.

The job does have great rewards but is a lot of hard work, good luck with your plans

[ofilha]

Originally Posted by omostra06

You can do it part time, but the type of job it is, to do it properly and offer a high level of service you have to work all the time, a normal working day for us starts at 8.30am until the office closes at 7.30pm ish, then a further hour or two at home answering emails. we get Sunday off sometimes. in 3 years I have taken 4 days Holiday. so it does consume a lot of time working in real estate. I drive around 650 klms per week showing properties.

You need to sit an exam to get your license, then form a company to get a ami number/license, you can work in a partnership with someone who already has a license.

If you want to work in real estate why not think about working with an already established company, learn the job with them, then think about starting your own company after a while.

The job does have great rewards but is a lot of hard work, good luck with your plans

Thank you Derek,
I wanted to retire not work harder. , but i understand what you are saying and it's the nature of the beast i think. I may forget about that idea. Thanks for the information. And have a great day and hope lots of sales.

[omostra06]

Originally Posted by ofilha

Thank you Derek,
I wanted to retire not work harder. , but i understand what you are saying and it's the nature of the beast i think. I may forget about that idea. Thanks for the information. And have a great day and hope lots of sales.

Yes we also came to Portugal to retire, take it easy perhaps build a house......
next thing we knew we were back running businesses....... I think if your the type of person that likes to work, retirement is very hard to do...you try it but before you know it you end up working again......

[ofilha]

Originally Posted by omostra06

Yes we also came to Portugal to retire, take it easy perhaps build a house......
next thing we knew we were back running businesses....... I think if your the type of person that likes to work, retirement is very hard to do...you try it but before you know it you end up working again......

You are absolutely right about that. I like to work but only with the things i enjoy. I thought that perhaps sales might be a good way to keep myself entertained and it could be fun. I thought about computers since that's my background, but i am so sick of them, and i now even think that computers are more of a problem than the solution, that i am not sure i even want to entertain that idea. Moreover, i wanted to get away from cars and it sound like i will need an automobile for a sales job, another expense and headache.
So i am still mulling what to do when i get there. There are lots of volunteer work i could do and that is an option, even with computers.

Hey, thank you for all the feedback.

[kingrulzuk]

hiya derek

im kings 26 yrs old from scotland.

i have been looking around on remax for flats outside lisbon

is there any 1 bedroom flats for sale under 50,000 euros?

and can you please give a name and number of a good english speking lawyer who you trust?

thanks for ur time pal

will sure buy you a drink pal

ta

[kingrulzuk]

i got the name and the number so i will soon call the person

thanks for ur help derek

[saffi]

Omostra06, thanks for all the info, but we want to rent, would this be advisable and how long do tenancy agreements last out there. Plus is there a paper that we can subscribe to for jobs ect..

Many thanks Natasha

Hi,

I've just joined and not used this before so please forgive any mistakes.

We have been over twice and looked at places and, over a period of months, agreed a price etc and got to the point of having a copy of the Promissory contract. It's approx one hectre of land and a clause in the contract states
the land as "rustico" and claims this gives the right to build a "habitacao" of 400m2. subject to approval of the design.

Is this generally true that an area of "rustico" has a right to have 5% of its area classed "habitacao"??

Thanks

Originally Posted by omostra06

Anyone thinking of buying a property in Portugal and want to know your way around the paperwork, here are a few pointers that may help you avoid problems.


In the old urban cardenetas(deeds) if it is a house for habitation it will be written Casa de Habitacao.
If is a new type cardeneta (deeds) there is one part which says Afectacao: (Here will be written) Habitacao.

If it is garage it will say garagem.
If it is for storage building it will say Arrumos.
If it is a warehouse it will say armazem.
If it is for commercial use it will say comercial.
If it is an old oil press factory it will say lagar.

The most important thing on a deed, old or new, is if it doesnºt say casa de habitacao or habitacao then it is not a building for living in.

it is possible to buy any of these types of properties and live in them should you choose to. However it will never be a legal house and if you came to sell it you would not be able to sell it as a house and any potential buyer would not be able to secure a mortgage on it. unless you carry out a project to allow change of use.

Before you purchase any property in Portugal is it essential to ensure all the relevant documentation is up to date and present for the Escritura.
Cardeneta Predial
This is a document (obtained from the Fiscal department of the Finanças) detailing the property's size, location, boundaries and a brief description. In some cases there maybe a drawing outlining the plot size and buildings.

Certidão de Teor
Is a document showing if there are any outstanding debts on the property and if the property is registered in the seller's name. some times it can take a while for debts to be logged and it is advisable to instruct your solicitor to check with the Conservatória do Registo Predial (land registry office) on the day of completion to ensure the property is free from debt.

Proof of Payment of IMT
To complete a purchase of a property in Portugal you will need to provide proof of payment of IMT (for properties with a sale value above 87,500€) to the notary.

Identification documents
Both the buyer and seller must be able to produce identification documents (identity card and/or passport) as well as their tax numbers for the Escritura in Portugal.

Licença de Habitação
Any property constructed as a habitable dwellings after 17th August 1951 must have a Licença de Habitação (habitation licence). Properties intended as habitable dwellings constructed prior to 1951 must have a certificate from the local Câmara indicating this.

Ficha Technica de Habitação
Houses built or altered after 1 January 2003 in Portugal are required by law to have a Ficha Technica de Habitação. This document contains information about the property including builder details, materials used and so on.

Energy Certificate
A new requirment from Jan 09, a certificate that is prepared by an Engineer to give a detailed report on the property.

[PETERFC]

Hi Coleio

When in dought do nought before you sign your Promissory contract get the correct answer as the Promissory contract is a legally binding contract. Also incase you need it get as long a Promissory contract as you can. I got an eight month contract just to make sure i was able to sell in the UK.

Good luck

Peterfc 666?