When can you pull out? selling a property in Portugal

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When can you pull out? selling a property in Portugal

Postby BIFABABE » Fri Jun 09, 2017 2:28 pm

Hi
Just wondering up to what point in the sale of a property can you change your mind ? i.e pull out and cancel it all? And is there charges involved ? Such as extra solicitor fees ?
Thanks
Hope for some replies soon please!
BIFABABE
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Re: When can you pull out? selling a property in Portugal

Postby njc0607 » Fri Jun 09, 2017 4:36 pm

you can pull out anytime before the contract conclusion -

However, if you have made an offer and signed a "Promissory" (pre sale contract) you will be liable, and will have to pay the seller, at least 10% of the total asking price of the house
if the seller pulls out, they have to pay you 30%

at least that`s how it used to work....
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Re: When can you pull out? selling a property in Portugal

Postby BIFABABE » Fri Jun 09, 2017 5:19 pm

Hi that's great thanks for the info . And is contract conclusion the time after both parties have signed ? Thanks again
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Re: When can you pull out? selling a property in Portugal

Postby njc0607 » Tue Jun 27, 2017 9:19 pm

yes... and it normally happens the same day, Friday 12pm. so I guess you would have until about 11.59am to pull out... although I would not recommend it !
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