How much deposit do I need to buy a house in Portugal?

Portugal › Buying, Moving, Owning & Living Overseas › How much deposit do I need to buy a house in Portugal?

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  • 29/07/2022 at 1:21 AM #121573
    Zakariyya

      I’ve been asked to pay 25% deposit by the agent for the property I want to buy in Lagos. This seems too high to me, how much deposit should I expect to pay in Portugal.

      Zak

       

      07/09/2022 at 5:35 PM #121765
      Alys123

        Hi Zak,

        When you find your dream property and your offer is accepted, you will be asked to leave a reservation deposit,  which is normally  € 5,000 Euros. This will reserve the property for a stipulated time. This deposit is generally held by the lawyer until the CPCV – Contrato de Promessa de Compra e Venda (Promissory Contract) is signed. However, this may differ when buying a property from a developer.

        Keep in mind that the property may be put back on the market, if you don’t leave a deposit or don’t keep to the time limit.

        Once the Promissory Contract is signed you will be asked to pay a deposit that can vary from 10% – 30%. If you default you will lose your deposit. If the seller defaults they will have to you double the deposit.

        Best of luck

        Al

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