Frequently asked questions
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FREQUENTLY ASKED QUESTIONS
BUYING A PROPERTY IS A HUGE DECISION, WE UNDERSTAND YOU HAVE A MILLION QUESTIONS. WE´RE HAPPY TO HELP ANSWER THEM ALL AS BEST AS WE CAN.
BUYING A PROPERTY IS A HUGE DECISION, WE UNDERSTAND YOU HAVE A MILLION QUESTIONS. WE´RE HAPPY TO HELP ANSWER THEM ALL AS BEST AS WE CAN.
BUYING A PROPERTY IS A HUGE DECISION, WE UNDERSTAND YOU HAVE A MILLION QUESTIONS. WE´RE HAPPY TO HELP ANSWER THEM ALL AS BEST AS WE CAN.
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Can anyone buy in Lagos Algarve Portugal?
Yes. You do not have to live in Lagos or even Portugal or be a resident to buy/own a property in Lagos, Algarve. In fact 90% of our clients are foreigners: British, American, Canadian, Swedish, German, Italian, Irish, Dutch, Spanish, African, Brasilian, Chinese, Belgian, Swiss to name a few. The process can be overwheleming without guidance, BUT, buying a home in Lagos, Portugal is quite a simple process with the right team behind you. Its meant to be a positive and happy experience. Let us help you... we pride ourselves in trying to make buying a property in Lagos Algarve as stress free as possible for our clients.
Yes. You do not have to live in Lagos or even Portugal or be a resident to buy/own a property in Lagos, Algarve. In fact 90% of our clients are foreigners: British, American, Canadian, Swedish, German, Italian, Irish, Dutch, Spanish, African, Brasilian, Chinese, Belgian, Swiss to name a few. The process can be overwheleming without guidance, BUT, buying a home in Lagos, Portugal is quite a simple process with the right team behind you. Its meant to be a positive and happy experience. Let us help you... we pride ourselves in trying to make buying a property in Lagos Algarve as stress free as possible for our clients.
Yes. You do not have to live in Lagos or even Portugal or be a resident to buy/own a property in Lagos, Algarve. In fact 90% of our clients are foreigners: British, American, Canadian, Swedish, German, Italian, Irish, Dutch, Spanish, African, Brasilian, Chinese, Belgian, Swiss to name a few. The process can be overwheleming without guidance, BUT, buying a home in Lagos, Portugal is quite a simple process with the right team behind you. Its meant to be a positive and happy experience. Let us help you... we pride ourselves in trying to make buying a property in Lagos Algarve as stress free as possible for our clients.
Yes. You do not have to live in Lagos or even Portugal or be a resident to buy/own a property in Lagos, Algarve. In fact 90% of our clients are foreigners: British, American, Canadian, Swedish, German, Italian, Irish, Dutch, Spanish, African, Brasilian, Chinese, Belgian, Swiss to name a few. The process can be overwheleming without guidance, BUT, buying a home in Lagos, Portugal is quite a simple process with the right team behind you. Its meant to be a positive and happy experience. Let us help you... we pride ourselves in trying to make buying a property in Lagos Algarve as stress free as possible for our clients.
Yes. You do not have to live in Lagos or even Portugal or be a resident to buy/own a property in Lagos, Algarve. In fact 90% of our clients are foreigners: British, American, Canadian, Swedish, German, Italian, Irish, Dutch, Spanish, African, Brasilian, Chinese, Belgian, Swiss to name a few. The process can be overwheleming without guidance, BUT, buying a home in Lagos, Portugal is quite a simple process with the right team behind you. Its meant to be a positive and happy experience. Let us help you... we pride ourselves in trying to make buying a property in Lagos Algarve as stress free as possible for our clients.
What is needed to buy/own a property in Lagos, Algarve Portugal?
What is needed to buy/own a property in Lagos, Algarve Portugal?
What is needed to buy/own a property in Lagos, Algarve Portugal?
EVERY buyer must have a NIF aka TIN (Tax ID). This is usually sorted by your lawyer/solicitor quickly at the Lagos local tax office. Having a Portuguese Tax Identification Number is required so you can pay your minimal tax on your Lagos property as an owner. Regardless if you are a resident or non-resident.
EVERY buyer must have a NIF aka TIN (Tax ID). This is usually sorted by your lawyer/solicitor quickly at the Lagos local tax office. Having a Portuguese Tax Identification Number is required so you can pay your minimal tax on your Lagos property as an owner. Regardless if you are a resident or non-resident.
EVERY buyer must have a NIF aka TIN (Tax ID). This is usually sorted by your lawyer/solicitor quickly at the Lagos local tax office. Having a Portuguese Tax Identification Number is required so you can pay your minimal tax on your Lagos property as an owner. Regardless if you are a resident or non-resident.
EVERY buyer must have a NIF aka TIN (Tax ID). This is usually sorted by your lawyer/solicitor quickly at the Lagos local tax office. Having a Portuguese Tax Identification Number is required so you can pay your minimal tax on your Lagos property as an owner. Regardless if you are a resident or non-resident.
EVERY buyer must have a NIF aka TIN (Tax ID). This is usually sorted by your lawyer/solicitor quickly at the Lagos local tax office. Having a Portuguese Tax Identification Number is required so you can pay your minimal tax on your Lagos property as an owner. Regardless if you are a resident or non-resident.
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How do I start searching for property in Lagos, Algarve?
Most important is to pinpoint your preferred location, zone, area in Lagos. Once you´ve narrowed this down, its honestly best to contact a local licensed Estate Agent in Lagos. Portugal does not have a MLS system and unfortunately property portals are good to get a general idea of pricing in the area you´re interested in, but they also include hundreds of properties that are no longer on the market, and repeated lisitngs through multiple Agencies. Its overwhelming. At Elite Realty, we have been established in the area since 2007, we are the local experts. A dedicated department that tracks new listings weekly as well as price reductions, bank repossessions, and sold listings so that we can send you a list of only the MOST relevant properties in Lagos to your search requirements.
Most important is to pinpoint your preferred location, zone, area in Lagos. Once you´ve narrowed this down, its honestly best to contact a local licensed Estate Agent in Lagos. Portugal does not have a MLS system and unfortunately property portals are good to get a general idea of pricing in the area you´re interested in, but they also include hundreds of properties that are no longer on the market, and repeated lisitngs through multiple Agencies. Its overwhelming. At Elite Realty, we have been established in the area since 2007, we are the local experts. A dedicated department that tracks new listings weekly as well as price reductions, bank repossessions, and sold listings so that we can send you a list of only the MOST relevant properties in Lagos to your search requirements.
Most important is to pinpoint your preferred location, zone, area in Lagos. Once you´ve narrowed this down, its honestly best to contact a local licensed Estate Agent in Lagos. Portugal does not have a MLS system and unfortunately property portals are good to get a general idea of pricing in the area you´re interested in, but they also include hundreds of properties that are no longer on the market, and repeated lisitngs through multiple Agencies. Its overwhelming. At Elite Realty, we have been established in the area since 2007, we are the local experts. A dedicated department that tracks new listings weekly as well as price reductions, bank repossessions, and sold listings so that we can send you a list of only the MOST relevant properties in Lagos to your search requirements.
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How long does the purchase of a property in Lagos take?
Good question! There´s no real set time frame by-law. The "normal" is anywhere from 30-90days which gives the buyers time to sort their finance, and also the seller time to move out. So long as your lawyer has completed in the legal checks on the property and a Notary is booked, we´ve had purchases completed in as little as 2 weeks and others that were negotiated for 12 months. In just a few weeks you can officially have your very own property in Lagos, Algarve Portugal.
Good question! There´s no real set time frame by-law. The "normal" is anywhere from 30-90days which gives the buyers time to sort their finance, and also the seller time to move out. So long as your lawyer has completed in the legal checks on the property and a Notary is booked, we´ve had purchases completed in as little as 2 weeks and others that were negotiated for 12 months. In just a few weeks you can officially have your very own property in Lagos, Algarve Portugal.
Good question! There´s no real set time frame by-law. The "normal" is anywhere from 30-90days which gives the buyers time to sort their finance, and also the seller time to move out. So long as your lawyer has completed in the legal checks on the property and a Notary is booked, we´ve had purchases completed in as little as 2 weeks and others that were negotiated for 12 months. In just a few weeks you can officially have your very own property in Lagos, Algarve Portugal.
Good question! There´s no real set time frame by-law. The "normal" is anywhere from 30-90days which gives the buyers time to sort their finance, and also the seller time to move out. So long as your lawyer has completed in the legal checks on the property and a Notary is booked, we´ve had purchases completed in as little as 2 weeks and others that were negotiated for 12 months. In just a few weeks you can officially have your very own property in Lagos, Algarve Portugal.
Good question! There´s no real set time frame by-law. The "normal" is anywhere from 30-90days which gives the buyers time to sort their finance, and also the seller time to move out. So long as your lawyer has completed in the legal checks on the property and a Notary is booked, we´ve had purchases completed in as little as 2 weeks and others that were negotiated for 12 months. In just a few weeks you can officially have your very own property in Lagos, Algarve Portugal.
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Can foreigners get a mortgage for buying in Lagos Portugal?
Yes of course! Pretty much every bank offers non-resident mortgages for foreigners. While local Lagos residents have better finance options (example finance between 80-90% as opposed to 70-75%), the conditions/rates offered are very similar. Like most countries, you´ll need to supply yearly income tax reports, monthly payslips (proof of income) and a few other documents. Also most banks will ask for a credit report and/or credir score from your own country. Elite Realty works with one or two hand picked Mortgage Brokers in Lagos specifically who can analyze your situation and advise you which bank is best for you and get you that pre-approval. Its important to get pre-approved or to speak with a Broker BEFORE searching for your home in Lagos as this may affect your budget.
Yes of course! Pretty much every bank offers non-resident mortgages for foreigners. While local Lagos residents have better finance options (example finance between 80-90% as opposed to 70-75%), the conditions/rates offered are very similar. Like most countries, you´ll need to supply yearly income tax reports, monthly payslips (proof of income) and a few other documents. Also most banks will ask for a credit report and/or credir score from your own country. Elite Realty works with one or two hand picked Mortgage Brokers in Lagos specifically who can analyze your situation and advise you which bank is best for you and get you that pre-approval. Its important to get pre-approved or to speak with a Broker BEFORE searching for your home in Lagos as this may affect your budget.
Yes of course! Pretty much every bank offers non-resident mortgages for foreigners. While local Lagos residents have better finance options (example finance between 80-90% as opposed to 70-75%), the conditions/rates offered are very similar. Like most countries, you´ll need to supply yearly income tax reports, monthly payslips (proof of income) and a few other documents. Also most banks will ask for a credit report and/or credir score from your own country. Elite Realty works with one or two hand picked Mortgage Brokers in Lagos specifically who can analyze your situation and advise you which bank is best for you and get you that pre-approval. Its important to get pre-approved or to speak with a Broker BEFORE searching for your home in Lagos as this may affect your budget.
Yes of course! Pretty much every bank offers non-resident mortgages for foreigners. While local Lagos residents have better finance options (example finance between 80-90% as opposed to 70-75%), the conditions/rates offered are very similar. Like most countries, you´ll need to supply yearly income tax reports, monthly payslips (proof of income) and a few other documents. Also most banks will ask for a credit report and/or credir score from your own country. Elite Realty works with one or two hand picked Mortgage Brokers in Lagos specifically who can analyze your situation and advise you which bank is best for you and get you that pre-approval. Its important to get pre-approved or to speak with a Broker BEFORE searching for your home in Lagos as this may affect your budget.
Yes of course! Pretty much every bank offers non-resident mortgages for foreigners. While local Lagos residents have better finance options (example finance between 80-90% as opposed to 70-75%), the conditions/rates offered are very similar. Like most countries, you´ll need to supply yearly income tax reports, monthly payslips (proof of income) and a few other documents. Also most banks will ask for a credit report and/or credir score from your own country. Elite Realty works with one or two hand picked Mortgage Brokers in Lagos specifically who can analyze your situation and advise you which bank is best for you and get you that pre-approval. Its important to get pre-approved or to speak with a Broker BEFORE searching for your home in Lagos as this may affect your budget.
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What are the costs involved in buying a property in Lagos Portugal?
What are the costs involved in buying a property in Lagos Portugal?
What are the costs involved in buying a property in Lagos Portugal?
Be sure to budget in approximately 8% in fees when searching for your ideal property in Lagos, Algarve. These include; government the "IMT" purchase tax (the bulk of the fees are here), registrations, stamp-duty, Notary fees and lawyer fees, and utility transfers. The majority of Real Estate Agents do not charge for helping you find a property (in Portugal the sellers pay the Agent fees). At Elite Realty our Lagos property buyers searches/services are offered for free. Contact us for a brochure with more Lagos local insight on corportate tax, off-shore purchases, inhertiance tax, capital-gains, wealth tax etc. Note: bank mortgages will not cover the purchase fees in their mortgages.
Be sure to budget in approximately 8% in fees when searching for your ideal property in Lagos, Algarve. These include; government the "IMT" purchase tax (the bulk of the fees are here), registrations, stamp-duty, Notary fees and lawyer fees, and utility transfers. The majority of Real Estate Agents do not charge for helping you find a property (in Portugal the sellers pay the Agent fees). At Elite Realty our Lagos property buyers searches/services are offered for free. Contact us for a brochure with more Lagos local insight on corportate tax, off-shore purchases, inhertiance tax, capital-gains, wealth tax etc. Note: bank mortgages will not cover the purchase fees in their mortgages.
Be sure to budget in approximately 8% in fees when searching for your ideal property in Lagos, Algarve. These include; government the "IMT" purchase tax (the bulk of the fees are here), registrations, stamp-duty, Notary fees and lawyer fees, and utility transfers. The majority of Real Estate Agents do not charge for helping you find a property (in Portugal the sellers pay the Agent fees). At Elite Realty our Lagos property buyers searches/services are offered for free. Contact us for a brochure with more Lagos local insight on corportate tax, off-shore purchases, inhertiance tax, capital-gains, wealth tax etc. Note: bank mortgages will not cover the purchase fees in their mortgages.
REST ASSURED DURING OUR TIME SPENT WITH YOU WE WILL WALK YOU THROUGH ALL ASPECTS OF BUYING AND OWNING A HOME IN PORTUGAL.
REST ASSURED DURING OUR TIME SPENT WITH YOU WE WILL WALK YOU THROUGH ALL ASPECTS OF BUYING AND OWNING A HOME IN PORTUGAL.
The process can be overwheleming without guidance, BUT, buying a home in Portugal is quite a simple process with the right team behind you. Its meant to be a positive and happy experience.
Let us help you...
we pride ourselves in trying to make it as stress free as possible for our clients.
The process can be overwheleming without guidance, BUT, buying a home in Portugal is quite a simple process with the right team behind you. Its meant to be a positive and happy experience.
Let us help you...
we pride ourselves in trying to make it as stress free as possible for our clients.
The process can be overwheleming without guidance, BUT, buying a home in Portugal is quite a simple process with the right team behind you. Its meant to be a positive and happy experience.
Let us help you...
we pride ourselves in trying to make it as stress free as possible for our clients.
The process can be overwheleming without guidance, BUT, buying a home in Portugal is quite a simple process with the right team behind you. Its meant to be a positive and happy experience.
Let us help you...
we pride ourselves in trying to make it as stress free as possible for our clients.
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MORE QUESTIONS? CLICK HERE TO VIEW OUR EXTENSIVE Q&A, OR JUST REACH OUT AND ONE OF OUR ADVISORS WILL HOP ON A CALL WITH YOU.
MORE QUESTIONS? CLICK HERE TO VIEW OUR EXTENSIVE Q&A, OR JUST REACH OUT AND ONE OF OUR ADVISORS WILL HOP ON A CALL WITH YOU.
MORE QUESTIONS? CLICK HERE TO VIEW OUR EXTENSIVE Q&A, OR JUST REACH OUT AND ONE OF OUR ADVISORS WILL HOP ON A CALL WITH YOU.