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Drawing up contracts, having the final walkthrough, and going to the closing are the last steps you will have to take when buying your first home. This is the time when having a real estate agent you can trust, and a little knowledge of home buying comes in handy.

But what about all of those other miscellaneous fees that will come up before and during the closing? You should be aware of additional fees when you apply for a loan and when you are closing on your new home.


Your purchase offer was the first contract you will be involved in when you want to buy a home. You should refer to this contract during the closing period to make sure that your rights are covered and that you are getting everything you pay for.

By writing a solid purchase offer that outlines what you want from the homeowners, you will be protected in case of disagreements and other issues before closing. But a purchase offer is just one of many pieces of paper you will have to see and sign before you can move into your home. Other contracts include:

  • Contingencies
  • Builder contracts
  • Mortgage contracts, and
  • Closing agreements

These contracts may vary in length depending on the forms being used and the information that will have to be included.


Real estate contingencies can be added onto an existing contract or can be created as a separate contract depending on what you would like to include in the purchase offer. Contingencies can include a wide range of items, including:

  • Home inspections and pest inspections
  • Home appraisals
  • Financing
  • Septic system tests
  • Appliances that will stay in the home, and
  • Property surveys

Contingencies can make or break a sale, so you should be sure to use the correct forms when filing contingencies and to word them correctly.

You will need to include a resolution for repairs that may need to be done before you can move into the home. If it is agreed upon in writing that the homeowners will take care of all or some repairs that may be found during a home inspection, this will save time later on.

You should also include ways to get out of the deal that include loan denial, repairs that cannot be fixed, and lead, mold, or radon that is found in the home. Having a way out of the contract will save you money and time.

If you are buying a home that is for sale by owner, you should find an attorney or real estate agent that is willing to help you create a contingency list and edit it where necessary. Do not rely on the seller’s agent because they are after their client’s best interests and not yours.

Builder Contracts

If you are buying a new home from a builder, you will have to sign a builder’s contract that states you have the financial means to pay for a new home, that you have decided on a location for your new home, and that you are ready to build.

You should hire an attorney at this point to go over the contract to see if there are any problems that will have to be ironed out before you begin building the home.

Mortgage Contracts

In order to complete your home buying, you will have to be approved for a mortgage by a lender and you will have to sign a contract in which you agree to an interest rate, monthly payment schedule, rate plan, down payment, and other fees.

These contracts are standard loan contracts that will explain the consequences of not paying your mortgage. You should read this paperwork carefully before signing anything.

Closing Agreements

These are the final contracts you will have to sign before you get the keys to your new home. You should read this paperwork carefully and be prepared to pay any closing costs at this time.

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