Portugal properties Guide

Location checklist

Before you start looking for a property abroad, it's worth asking yourself a few basic questions, which should save you time and money in the long run:

• Do you prefer the town or country?
• Do you want to be inland or on the Algarve coast?
• Do you want to be isolated or in the thick of it? (Most people prefer to be within about an hour's travel time of a town.)
• How much outside space do you want?
• How close do you want to be to your neighbours?
• How close do you want to be to shops, bars and restaurants?
• Where's the nearest public transport, how often does it run, what time does it end?
• How far is the beach?
• How close are you to the nearest airport?
• How far is it to sports facilities, golf, tennis, swimming, and so on?
• How good are the local health and social services?
• Arts and entertainment - what's available in the area?
• Neighbours - what are they like and how often do you want to see them?

Use qualified professionals to protect your interests and make the purchase of your new home a stress-free experience. Estate agents are a good source of advice. Only negotiate with ones that are officially registered and hold a licence. Ensure you have a good lawyer with an excellent command of English and the native tongue, to deal with the endless stream of rules and regulations. For instance, did you know that if you're buying property in Portugal you should make out a will in Portugues after buying, or that you can inherit property tax debts from a previous vendor?

Research all legal issues and costs involved. Your solicitor/lawyer will advise and assist you. Before you have decided on a property it's important to be fully aware of the legal process and costs involved in your puchase. Obtain professional advice and check your finances, taking account of these additional costs.

Be well prepared with your finances and taxes when buying. Set up a direct debit from a native bank account to pay for bills. Be careful not to miss payments and read those red letters; foreign banks are not lenient with those who don't pay up in time. If you're considering renting out the property when it's empty, bear in mind that advertising in the UK for a property abroad could result in tax demands from both the English and foreign authorities.

Make your offer in writing if possible (of course, subject to contract), and include not only the price, but also the amount of deposit, when you're prepared to pay it, when you're prepared to complete, what you understand to be included in the price (for example furniture and fittings if applicable) and, an often neglected point, that all machinery equipment and installations are in normal working order.

Portugal's pleasant, healthy climate and wide selection of properties make it the most popular destination for an overseas property. Choose from developed plots, farmhouses and village locations, through to villas, townhouses and new apartment developments.

Residency

If you wish to spend more than six months in Portugal you need to apply for a 'residencia' to become a resident. Being a resident doesn't restrict movements in any way and it has many advantages, such as lower taxes.

The estate agent

Ask your estate agent for details of the outgoings payable every year to maintain the property:

• annual real estate tax
• community fees
• water rates
• electricity charges
• property income

Mortgage in Portugal

Applying for a mortgage is a straightforward process, as in the UK. A number of documents must be furnished to the Portuguise bank in order to accommodate a smooth transaction. Please note that originals of everything will need to be shown and copies will be taken at the bank.

• passport, driving licence
• if employed: past three months' payslips, latest P60s
• if self-employed: last three years audited accounts, tax returns and accountant's reference
• Portuguese fiscal number
• Birth certificate
• Utility bill to proof of UK address

Children's education

If you plan to move the whole family abroad, your children's education is highest priority. You can choose from International schools in Algarve, state and private schools.

Viewing a property checklist

There are so many things to consider when viewing a property abroad and often the most important questions are forgotten. Ensure you ask the relevant questions by taking our handy viewing checklist with you on your viewing.

(Please feel free to copy and print this check list)

For information and Portugal Property For Sale, please go to: Algarve Property World

Properties in: Apartments in Albufeira, Villas in Albufeira, Apartments in Vilamoura, Villas in Vilamoura, Apartments in Lagoa & Carvoeiro, Villas in Lagoa & Carvoeiro, Tavira, Loule, Armacao de Pera, Olhao, Alvor, Silves, Lagos, Paderne, Sagres, Boliqueime, Olhos de Agua, Almancil, Vale do Lobo, Algoz, Alcantarilha, Quinta do Lago,

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Algarve Property World

Registered office: Av. Sá Carneiro, Edif. Ocean Drive 9, Areias De Sao Joao. 8200-262 Albufeira

(we are located on the "Strip" in Areias S Joao)

Office: (+351) 289 585 776, Mobile: (+351) 913 899 101, Fax: (+351) 289 585 475

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