Buying in Portugal a Dream or a Nightmare? New video on how to protect yourself and super basics.
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- čas přidán 24. 07. 2024
- Moving to Portugal is a dream but can be a nightmare if things go wrong. I explain the tips and tricks to buying here to protect yourself and your large investment of a home.
Buying in Portugal is different than in the USA (and some other countries) as there are fewer rules and processes (no title, escrow, disclosures, dual agency is common here, limited oversight with in-house legal and a list of other items like home inspections and appraisals are not standard for cash purchases). If you do need to take legal action against a problematic sale or purchase after the close, the courts can take years to resolve the issues. There’s no quick fix.
So how can you take the maximum protections to minimize problems? I'm here to share these helpful tips as well as some basics about moving here.
I also cover some "Super Basics" for the non-EU as Portugal is part of the EU and the Schengen Zone and requires a visa to enter. If you don’t remember getting a travel visa it’s because they stamp your passport on arrival. In November of 2023 (watch the date it keeps moving) you’ll need to apply online in advance for a new travel visa called an ETIAS. I explain the new rules so you don't get stuck in the airport.
What we take as common sense isn’t always common to those in large countries without travel requirements. Visa rules continue to change and I'm here to explain.
Thinking of moving to Portugal? Start here with a Free virtual planner to begin your journey. • Moving to Portugal Fre...
Link to the PDF Planner: drive.google.com/file/d/1Gcq7...
Moving to Portugal Planner Link to the virtual companion guide/video on CZcams: • Moving to Portugal Fre...
Link to Health Care Video: • Health Insurance costs...
Travel like a Pro in Portugal: • Explore Portugal with ...
Thinking of moving or retiring in Portugal: • Thinking of Moving or ...
***Support the channel (and my son in college) by “buying me a coffee”. Just click on this link: www.buymeacoffee.com/PortugalV
If you’re thinking of moving to Portugal then click on this link to my free questionnaire/planner for moving to Portugal.
(The planner helps organize your wants and needs and Is a good starting place to begin your journey).
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Join the tribe and MailChimp here and get my resource sheet which includes some of my contacts just click on my MailChimp link below and when you type in your email it will email you a welcome email with the link to the resource sheet.
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The link will stay the same even as I change and update data. Flag the welcome email for future reference. I don’t email much (I keep busy with fun stuff) but then you can get any updates or even private videos just for my “tribe”. Here is the link: mailchi.mp/1972baa7acbd/sign-...
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You can contact me for a private consultation after you fill out the form at: info@AmericanInPortugal.com
What a great session you provided, Veronica. Thank you very much ❤
Awww hugs carrie
Excellent overview and tips Veronica-as always. 🙏🏻
Hugs and can’t wait to see you here eventually!!!!
I really liked your planner! Thank you!😊
Thank you. I hope it helps with your move :)
It's definitely a start 😊
Thanks so much for this valuable information and for explaining all the real estate terms....it's super helpful to have a liaison when venturing into new waters. I hope to live / rent in Portugal for about 6 months to get a good feel for it soon. And I plan to bookmark this one for future reference.
Thanks, Veronica, for creating these videos and for highlighting the eastern Algarve, too.
♥🌍
Awww hugs, I love it so much here.
Thank you Veronica
Oh wow thank you so much!!
Thank you Veronica! Any special tips/considerations when looking at new builds (condos)?
Definitly check out their finances and past history and get a bond if they ask for a deposit, have your attorney investigate! Sometimes they take your deposit and begin work on another project :(
You are discussing previously built properties. You did not discuss new builds. You mentioned no escrow. Some new builds require you to pay more in Portugal than in the US while the property is being completed.
You’re right and it’s important to make sure your money is protected in a new build. Make sure your attorney holds the deposit in a client account or it is (bonded) so you get your money back if there is a building issue (people lost money and time all the time on these new builds). There are scammers (and good builders) out there. Take double the precautions and the timing usually is much longer than quoted so set proper expectations.
Hi Veronica, thanks for making this video. I beleive you stated that if a person becomes a Portuguese Tax Resident and then sells their home in the U.S, they would have to pay Capital Gains in Portugal. Is that the case regardless whether he/she has applied for the NHR scheme? Thanks
Ask the accountant as primary residences may have an exemption and I’m not the expert.
I hope everything is great on the other side of the pond from the east coast. :)
It’s another beautiful day in paradise. How are you doing?
@@AmericanInPortugal We are both good Veronica. Thanks for everything you do!
Hello Mr. Sean, it’s always amazing in Portugal but real life is the yo-yo.
@@AmericanInPortugal Well that definitely life, but that is what keeps things interesting! And Yo-Yo's were fun when we were kids! ;)
Hope you are doing well, have a great evening!
Yes loved it as a toy. Life is always interesting for sure. Hugs from across the pond
Thanks Veronica! Are you still a real estate agent in Portugal? If so, what company are you with and how can I contact you. I could not find you on the Coldwell Banker Portugal website.
Ola, I’m not an agent here as there was a huge need between USA and here with a complete lack of basic processes so now I help people with relocation and making sure they’re doing the right move. Getting things done right before you make the move. Then I pass to agents I have trained here.
Info@americaninportugal.com
I love Charles Schwab
They have been good to us.
You‘re sure it‘s Charles and not Klaus ?
We used a reputable agency, ERA, and had no problems and did not need a lawyer...All provided by the bank! Cash deal a whole other ballgame so perhaps you should differentiate!
YES!!! A bank loan gives you a big help on the due diligence and appraisal etc. bank loan even for a small percentage can be a good idea so that they do the due diligence for you. Also, be careful on reservation and deposit to make sure you can get it back.
@@AmericanInPortugal How would you et the money back in Portugal? If you go to court, it takes ten years to get any action.
Which bank did you use?
Exactly. Do all your work upfront and don’t count on suing on the back end.
I have amazing agents who are honest and I can refer them.
Veronica, off topic, but I'll be in the Algarve in two weeks. Will I be able to safely run as a woman, on my own? Thanks for entertaining my off topic question.
It depends on where you will be in the Algarve? Here in our town there are lots of runners and it's safe (even the President walks our trails). Not all towns are created equal so check out the town specifically.
@@AmericanInPortugal I will be in Lagos for two weeks
I don’t know every street in lagos but we are safe in the east algarve towns between the towns and oceans
Lots of my friends are joggers and they love the trails. Many athletes from around the world come to out stadium and the surrounding beaches and trails to train off-season.
INFORME-SE PRIMEIRO E DEPOIS FAÇA VÍDEOS. QUANTA IGNORÂNCIA!