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"Our staff is comprised of experienced professionals with extensive knowledge to suggest the best alternatives."

Buying a house may seem like a complicated process, but with TOPcasas you won't have to worry because we take care of everything.

This moment is very important because for many it represents what could be the biggest financial investment of their lives, so it's good to be sure of what you're going to do.

Here we explain in broad strokes the steps of buying a home to help you better understand the process.

 


Step 1 - Set your Budget

Define how much you want to spend, but above all how much you can spend!

TOPcasas can help you define this value based on a pre-approval of bank financing.

When financially planning the purchase of your home, it is necessary to take into account the following:

I) The amount to be disbursed upon signing the promissory purchase and sale agreement (down payment);
II) The amount with the costs of registrations, notary, IMT and Stamp Duty;
III) The amount that you will need to request from the Bank to carry out the purchase of the house.
IV) The amount of installments you will have to pay monthly;
V) Costs with mandatory insurance that you will have to take out.
VI) Other personal expenses associated with the purchase of a house: furniture, decoration and others;

 


2nd step - Choose the zone

Choose the geographic area where you intend to buy a house, taking into account aspects related to existing social facilities, such as: hospitals, schools, communication routes, green areas, supermarkets, etc.

 


3rd step - Compare prices

TOPcasas will help you compare property prices, practiced in the chosen area, in order to be prepared to negotiate the purchase.

 


4th step - Analyze the houses

See the intended houses during the day, to better check their state of conservation as well as the natural lighting conditions.

Check the dimensions of the divisions well and study the use you can make of each one of them.

See the quality of the materials, taking into account aspects such as: type of floors, doors, windows, tiles, sockets, switches, quality of elevators, type of locks, interior and exterior painting, type of walls, etc.

 

 

Step 5 - Make an offer

At this point you will be in a position to submit an offer to purchase.
The TOPcasas commercial will help you define the price to offer for the house, so that you can make an excellent deal.

An offer is not always accepted and it is necessary to renegotiate with the Seller.

 


6th step - Promissory Purchase and Sale Agreement

After your offer has been accepted, a Contract will be drawn up that expresses the wishes of both parties (Buyer and Seller) and where the terms agreed in the previous step are defined, namely:

a) Purchase Value
b) Down payment value
c) Deadline for the Deed
d) Place of Deed
e) Other defined conditions

It is at this moment that the down payment is paid to the Seller and remains in his possession. Here it should be noted that if there is default attributable to the Seller, the Buyer is entitled to receive double the amounts delivered as a down payment. If there is default on the part of the Buyer, in that case the Seller is entitled to retain the down payment.

 


7th step - Formalize the Financing

In the case of resorting to financing, it is at this moment that you will deliver your personal documentation and that referring to the property to the bank so that they can deal with the final approval and evaluation of the property.

 


8th step - Deed of Purchase and Sale

It is at this point that the parties will go to the Notary or Casa Pronta service in order to sign the Purchase and Sale deed and it is here that the Seller receives the full value of the business and of course the Buyer access to the keys to his new home!

 


9th step - Final registrations and IMI Exemption

After the deed, it is necessary to register the deed with the Finance Service and the Land Registry Office. In cases of purchase of Permanent Own Housing, it is at this point that exemption from IMI is requested and the process is concluded.

 


Important note:

There are several intermediate steps that we do not refer to in this "Step by Step", as it is specific to each business and so as not to lengthen this explanation too much. In any case, when choosing our services you will have access to specialists who will not represent any cost to you, making the process of buying a home safe and worry-free.

 

PURCHASING PROCESSu

"Our staff is comprised of experienced professionals with extensive knowledge to suggest the best alternatives."

The costs of buying a property vary depending on the value of the business and whether you are going to use financing or not.

They are basically divided into 3 types of costs: I), II) and III) which we explain in detail below:



I - Notary Expenses or "Ready House"
This is the cost of the Contract/Deed of Purchase, in this case you can choose between signing the Contract/Deed of Purchase at a Private Notary or at Casa Pronta Service the essential difference between both is obviously the place where the act is celebrated as well as the respective cost .

These costs also vary according to whether or not you need financing/bank credit

At the Private Notary, you will pay for the Deed of Purchase and Sale:
- 375 Eur., if you do not resort to bank financing or 700 Eur., when using financing;

or

In the "Casa Pronta" service, you will pay for the Purchase and Sale Agreement:
- 400 Eur., if you do not resort to bank financing or 800 Eur., when using financing;



II - Stamp Duty

Acquisition:

- 0.8% on the purchase price of the property

and (if applicable)

- 0.6% on the amount of bank financing;



III - IMT - Municipal Tax on Transmissions (formerly SISA)

- This is the tax paid on the purchase price of a HOUSE as per the tables below

The calculations seem a little complicated, so to make the task easier we put an example below



Table I
Rates applicable to existing RESIDENTS or turning in the following 6 Months

Purchase Price (euros)

Rates (%)

Deductible (euros)

Until 97.0640%N/A
From 97.064 up to 132.7742%

1.941,28

From 132.774 up to 181.0345%

5.924,50

From 181.034 up to 301.6887%

9.545,18

From 301.688 up to 603.2698%

12.562,06

From 603.269 up to 1.050.400

6%

 Above 1.050.400                               7.5%



Table II
Rates applicable to NON-RESIDENTS, HOLIDAY & SECOND HOMES

Purchase Price (euros)

Rates (%)

Deductible (euros)

Until 97.0641%N/A
From 97.064 up to 132.7742%

970,64

From 132.774 up to 181.0345%

4.953,86

From 181.034 up to 301.6887%

8.574,54

From 301.688 up to 578.5988%

11.591,42

From 578.598 up to 1.050.400

6%

 Above 1.050.400                         7,5%


Updated in January/2023



How to calculate IMT?



Example of a HOUSE in Secondary Housing that has a cost of: €250.000
Go to TABLE I, to obtain the Applicable Rate which is 7% and check the amount to be deducted which is €8.574,54

So: €250.000 X 7% = €17.500 - 8.574,54 € = 8.925,46 € - IMT PAYABLE


The fee payable for rustic land, plot of urban land or ruin is different, with no amounts to be deducted.

A flat rate applies.

- 5% for a rustic land

- 6.5% for a plot of urban land or ruin



Other expenses:

- TOPcasas does not charge any commission to the Buyer for the sale of a property, which is paid by the Seller of the Property;

- If you intend to use a lawyer, you should consider a cost of up to 1%.

The costs of buying a property vary depending on the value of the business and whether you are going to use financing or not.

They are basically divided into 3 types of costs: I), II) and III) which we explain in detail below:

 

 

I - Notary Expenses or "Ready House"
This is the cost of the Contract/Deed of Purchase, in this case you can choose between signing the Contract/Deed of Purchase at a Private Notary or at Casa Pronta Service the essential difference between both is obviously the place where the act is celebrated as well as the respective cost .

These costs also vary according to whether or not you need financing/bank credit

At the Private Notary, you will pay for the Deed of Purchase and Sale:
- 375 Eur., if you do not resort to bank financing or 700 Eur., when using financing;

or

In the "Casa Pronta" service, you will pay for the Purchase and Sale Agreement:
- 400 Eur., if you do not resort to bank financing or 800 Eur., when using financing;

 


II - Stamp Duty

Acquisition:

- 0.8% on the purchase price of the property

and (if applicable)

- 0.6% on the amount of bank financing;

 


III - IMT - Municipal Tax on Transmissions (formerly SISA)

- This is the tax paid on the purchase price of a HOUSE as per the tables below

The calculations seem a little complicated, so to make the task easier we put an example below

 

 

Table I
Rates applicable to existing RESIDENTS or turning in the following 6 Months

Purchase Price (euros)

Rates (%)

Deductible (euros)

Until 97.064 0% N/A
From 97.064 up to 132.774 2%

1.941,28

From 132.774 up to 181.034 5%

5.924,50

From 181.034 up to 301.688 7%

9.545,18

From 301.688 up to 603.269 8%

12.562,06

From 603.269 up to 1.050.400

6%

 Above 1.050.400                               7.5%

 

 

Table II
Rates applicable to NON-RESIDENTS, HOLIDAY & SECOND HOMES

Purchase Price (euros)

Rates (%)

Deductible (euros)

Until 97.064 1% N/A
From 97.064 up to 132.774 2%

970,64

From 132.774 up to 181.034 5%

4.953,86

From 181.034 up to 301.688 7%

8.574,54

From 301.688 up to 578.598 8%

11.591,42

From 578.598 up to 1.050.400

6%

 Above 1.050.400                         7,5%

 

Updated in January/2023

 


How to calculate IMT?

 


Example of a HOUSE in Secondary Housing that has a cost of: €250.000
Go to TABLE I, to obtain the Applicable Rate which is 7% and check the amount to be deducted which is €8.574,54

So: €250.000 X 7% = €17.500 - 8.574,54 € = 8.925,46 € - IMT PAYABLE


The fee payable for rustic land, plot of urban land or ruin is different, with no amounts to be deducted.

A flat rate applies.

- 5% for a rustic land

- 6.5% for a plot of urban land or ruin

 


Other expenses:

- TOPcasas does not charge any commission to the Buyer for the sale of a property, which is paid by the Seller of the Property;

- If you intend to use a lawyer, you should consider a cost of up to 1%.

Associated Costs

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WE MAKE IT HAPPEN

For you, we get the best proposals from the banks.
We streamline the entire process impartially.


Now, when you find your dream home, you will also find our team, all the support in the preparation and management of the entire mortgage loan process best suited to your needs.

For you, we get the best proposals from the banks.
We streamline the entire process impartially.


Now, when you find your dream home, you will also find our team, all the support in the preparation and management of the entire mortgage loan process best suited to your needs.

We are Official Mortgage Intermediaries

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