Property in Portugal

[prior]

To buy some property in Portugal the cheapest way is buy straight to the owner, the real state agents have absurd prices, i had the exemple, i bought in central Portugal, near Serra De Estrela a small farm with houses , several qaulities of trees, for a reasonable price i think, (35.000€) everything went well and without any scams or problems, and have the oportunitie to discuss price, saved 3000€ of initial price , im located very near the spanish border , making my shoping gas and fuel there were is cheaper than here.

[omostra06]

it is good if you can buy straight from the owner, this way the owner does not have to pay a commission to an agent, if he passes this saving on to the buyer then they might get the property a bit cheaper.
however a lot of over seas buyers will find that in fact it doesnt cost them any more to buy through a ´good, honest´ agent, and they will recieve free help with the langugage, changing over utillities, building quotes etc, a good agent will offer ahigh level of aftersales service that can go on for months and be very very helpful to a buyer from overseas that is still getiing used to a new language and country, buy straight from the owner and you are on your own, once they move away,

[brian]

It was pointed out recently that there are a number of companies working in the UK posing as "Estate Agents" but simply working as lead generators - they just add their own fat fee on top of the asking price, then buy direct from the seller for the lower price once they capture a UK buyer.

[rita palmeiro]

I agree with both parts...
Although I am not an agent anymore in Portugal ( I am living in the UK) the truth is that if you don't know about the country and don't know the language try to find a good agent or consultant. Sometimes what is cheaper becomes very expensive...if you have a problem with the owner, or with the documents, what do you do???who will help around when you are not in PORTUGAL?

A sale agent is a profession and they have the right to have their own comissions ( if it is a big comission or not...well the portuguese law says that they can charge whatever they want as long as there is an agreement between them and the seller).

[dalewis]

Hi,
Im thinking of investing in Portugal and think Ive found what I want.
Ive purchased properties in other countries before but not this one.
Can anybody confirm the purchase costs here? Ive had a number of figures quoted from 8 - 15%.
This is a hotel room investment and the Developer is claiming to pay all of the costs to buy. They say its around 12%. Does that sound about right?
If so, is this a deal too good to be true I wonder.
Anybody else heard of this development / location?
Thanks and regards to all
The Agent is Owner Invest and the development is Sesimbra Bay Resort, Costa Azul

[James Sharpe]

Hi everyone

I'm thinking of buying in P too.

I have spoken to a couple of companies that have said that they can get really really good discounts there (by bulk buying distressed stock and last units in a resort). I think they are down in the Algarve.

Do you think I could then go straight to the developers and see what discount they can give me as they may be paying these companies commission? Are developers struggling there?

Thanks

[omostra06]

Buying direct from the developer should allow you to make agood deal, things on the Algarve are a little slow at the moment so owners should be happy to offer better deals to get a sale.

[James Sharpe]

Indeed, a company I have been dealing with say with the number of clients they have they can bulk buy from the developer with good discounts and with no money down. Am likely to go out and see what developments they have on their books.

[James Sharpe]

Hello

I have heard of them too, although I would always prefer to deal direct with a bank- such brokers tend to only get good products with one or two banks. Although the fact that they saved you money when sending money overseas is a great bonus.

Thanks