How to Sell a Property in Portugal

If you find yourself in the position you need to sell your property in Portugal  it can be a nightmare of where and who to turn to. What legal requirements do you have to adhere to? Who and where will you advertise your property to? Will it take a long time to sell given the difference in the market in Portugal to the United Kingdom?

These are all relevant questions, which will no doubt have gone through your mind if you are thinking of selling your property in Portugal.

The simple answer to these questions is to employ the services of a reputable estate agent.  After all estate agents are in the business of selling properties and have databases of clients perhaps looking to purchase a property just like yours. However if you do choose to sell your property in Portugal with an estate agent, ensure they are a legally registered one.

*see notes on estate agents in Portugal.

However, if you are thinking of selling your property in Portugal you don't have to utilise an estate agent. You can try and sell the property yourself and save having to pay commission fees ranging from 3-5%. Though if you are not familiar with the property market in Portugal you may find this a false economy in the longer term.

 Who to turn to when you decide to sell your property in Portugal?

When you decide to advertise your property for sale the most important time is when it first 'hits' the open market. This is a time when you should receive the maximum amount interest from interested parties.

Ensuring you target the right audience for your property is imperative and something many Expats get wrong when they wish to sell their property in Portugal. Unless you want the details of your property for sale to lounge on the books of an estate agent overlooked by clients, or worse still on the internet on the unending list of websites offering free advertising, then you must be careful with whom and where you advertise your property for sale.

Although you may wish to save yourself the trouble of paying estate agency fees, which can be as much as 5% for some franchised agencies, this may mean your property takes longer to sell.

Choosing the right estate agent is important and could mean the difference between achieving a relatively quick sale or becoming increasingly frustrated with little or no viewings.

Like in the United Kingdom choosing the right estate agents is important. Think about the market your property will appeal to and choose the agent who is able to provide you with the right clients for your property.

Make a list of the registered estate agents in your area and invite them to provide a valuation on your property letting them know you are in mind to sell. Getting one or two good agents along will help give you a better understanding of how quickly your property will take to sell and also what is a realistic, achievable figure.

Don't be seduced though by unrealistic prices as your property could lounge on the market for months and years without even a viewing if it is not priced correctly.

One of the most important things to consider when you are thinking of marketing your property for sale is the price. Although you may have an idea of what your property is worth marketing it at the incorrect value could mean your property lingers on the books of estate agents and advertising websites for months, sometimes years without attracting any viewings.

Most estate agents in Portugal will be able to give you a good idea of the price your property should be marketed at to attract interest and ultimately a purchaser. However if you choose to ignore this advice and choose to market the property at a higher figure don't expect to find hundreds of buyers beating down your door if there are other, similar style properties for sale in the locale for less money.

Although you will be emotionally attached to your home, potential buyers will be looking for the best possible deal for them so you will have to ensure your property is competitive in the Portuguese property market.

Can I sell my own property in Portugal?

In Portugal there is no legal requirement for you to employ the services of an estate agents, and it is possible to promote your own property for sale without having to instruct an estate agent to sell your property and you could save money by doing so.

However, if you have never sold your own property before and are unsure of the procedure involved or are worried about communicating with potential buyers, then it is perhaps best to think about contacting a few of the local agents in your area to ask their advice on selling your property.

Remember estate agents in Portugal are in contact with hundreds of potential buyers and will no doubt have a database of clients with specific requirements, possibly matching your property. Some agents spend thousands of Euros

You must ensure the documentation of the property is up to date and in order and, if you purchased your property prior to 2008, you will need to commission an Energy Certificate to be produced if there is not one already in existence, something you may struggle to organise if you are not acquainted with any engineers in Portugal.