How to find a good estate agent in
Portugal.
One
of the first things you will need to do if you are hoping to make your Portugal vacation home property dream a reality is to find a good estate agent.
But what
should you be looking for in a Portuguese estate agent? And how can you
tell a good estate agent in Portugal from a bad one?
Fortunately
Portugal is one of the few countries where estate agencies are
formally regulated. This therefore provides some protection for
people buying property in Portugal.
It
is however prudent to exercise some caution when dealing with estate agents in
Portugal. There are a number of rogue agencies in Portugal who are not practising
legally. You should therefore always ensure that you are dealing with a
reputable and legal estate agency.
How to
tell if your estate agent in Portugal is practising legally?
Estate
agents in Portugal must undertake specific training and hold appropriate professional
qualifications. Portuguese estate agents must also be registered with the
government in Portugal and have relevant insurance, which would protect you
against financial loss should something go wrong.
You can
check out the estate agent’s credentials, by contacting the Instituto da Construcao e do
Imobiliario. (INCI) the governing body which regulates
estate agents and builders in Portugal.
The
INCI will also be able to give you details of estate agent’s insurance as well
as the expiry date of the estate agents licence which should be renewed every 3
years.
You
should also check that your estate agent has an official AMI licence number
(Associacao de Mediadores Imobiliarios). This will normally be on display in
their premises and should also be provided to you upon request.
The
AMI provides an avenue or complaints should you encounter any problems with a
licensed estate agent in Portugal.
What is
the role of an estate agent in Portugal?
The
purpose of estate agents in Portugal is to market properties for sale and to help
negotiate the sale of properties.
A
good estate agent may also provide additional information about local
amenities and local contacts.
Estate
agents should not provide legal advice. Once an offer for a property in
Portugal has been accepted your Portuguese property lawyer, who is independent
from the estate agent, should take over from that point.
By
having an independent lawyer in Portugal you can ensure that your lawyer is
acting only in your interests and not in the interests of the estate agent
who’s aim is to ensure that property sale proceeds so that they can receive
their commission.
Good
estate agents will encourage you to choose your own independent lawyer to undertake
the relevant investigations of the property and provide their legal advice before
you proceed to complete the purchase.
Estate
agents should not pressure you into making any decisions. Take your time, do
your research, thoroughly review your options and enjoy the process of buying
your dream holiday home in Portugal!
For more
information about how to find an independent English-speaking lawyer in
Portugal, please contact Worldwide Lawyers on +44 (0)1244 470 339 or
at info@worldwidelawyers.co.uk.
Click on any of the above photos to view these exclusive vacation home exchanges in Portugal.
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