nce you have found the property you are interested in buying. A purchase contract (Contrato de Compraventa) will be drawn up and a deposit of 10% of the purchase price is usually required to secure the property.
Note: We strongly advise you that all checks are carried out before you proceed to purchase contract and that you seek independent legal advice. Money spent here is money well spent.
The remaining 90% is paid on completion.
Before you sign anything you should have proof of the following details:
1. Nota Simple (a report from property registry which also gives the owner of the property and whether there is a mortgage on said property)
2. Receipts of Utilities bills paid and up to date
3. IBI (Property tax) up to date.
4. Receipts of Community fees up to date.