Great video my parents bought property 15 years ago in Santo Amaro . Then my parents opened a maritime museum. They love every minute there.

Expats who are thinking to build up a new life in Açores are quite fortunate to now have an excellent new (and scarce) resource to inform them on this little known region, which is you guys. I remember watching your videos as I tried to navigate this from abroad during lockdown and it took ages for me but it was worth it. I just did a Santander mortgage for an apartment in Scotland but I wanna save for the construction loan next to build on Flores. God I love the Azores and Sao Miguel and Flores with family in September. Shortly after doing your triangle and finishing the trip by climbing Mount Pico. Are connections to Terceira decent by boat to the triangle/pico? Flights are so cheap to Terceira for me, ridiculously cheap.
Keep doing what you're doing, I'm very happy for you guys and what you have set up.

This is a great channel. When are you guys coming back to Pico? Seems like you are still in Canada. Me and my wife are here for three weeks and would love to meet you guys and pick your brains about living here.

Great information!! Thank you so much for sharing your experience 😊

I went through this process in Q1 2022, so I can say that what was said here still makes sense.
There was a small change that took part in the beginning of Q2 2022 – right after I signed my mortgage – regarding the maximum mortgage duration:
When the older person in a couple, or the on individual, which are/is contracts the mortgage is:
a) Below 30 years-old, the maximum duration of a mortgage is 40 years (this was already in place);
b) Between 30 to 35 (including) years-old, the maximum duration of a mortgage is 37 years;
c) Over 35 years-old, the maximum duration of a mortgage is 35 years.

Apart from this, everything continues to be in place.
So, great video you guys!

Regarding time:
I can say that my entire process took 58 days, from seeing the property and placing my offer to the final signature on the purchase of the house – which is pretty good in Portugal.
I can also say that, for an European country in general, this is pretty good!
I honestly have no idea how it is elsewhere, but there are timings that shall be respected, and are in place for the greater good of both the buyer and the seller.

I would like to point three things out:
1. The minimum down-payment in Portugal is 10%, regardless of income or age;
2. If the property (house or land) is in the middle of an inheritance process, you should avoid it at all costs. This may lead to very lengthy court battles, which can leave you stranded on that property
3. There is the "CPCV: Contrato de Promessa de Compra e Venda", which translates to "Sell and Buy Promise Contract", which the Seller contracts that he will sell the property, and the Buyer contracts that she will buy, and a Deposit is given from the Buyer to the Seller (typically 10%, which counts towards your down-payment on the house). ATTENTION: If the Buyer walks from the deal, she loses the Deposit in favor of the Seller. By contrast, if the Seller walks from the deal, he has to give back 200% of the Deposit to the Buyer. This is why this CPCV contract should have a period until which the final contract must be signed, usually 90 days. You should ask for a clause on the CPCV contract , to protect yourself, that (i) If that period expires, you should receive your Deposit back, and (ii) if your mortgage gets rejected by the bank – which you had no influence on – the Deposit must be given back to you.

Note: Your down-payment to the bank can be bigger than the Deposit given on the CPCV signage, e.g., a 10% deposit upon signage of the CPCV contract, and a 25% down-payment on the property asked by the bank. You pay 10% to the Seller upon signage of the CPCV contract, and give 15% to the bank as the remainder of the down-payment.

I really hope this helps you!
Feel free to reach out.

ThNk you for this video guys. The 50% down payment came directly from an agent with Idealista. I was a little shocked by that but we just started to save more. Now with this video and more research we will go back to 30% and hopefully be there much much sooner. Thank you and keep up the great videos.

Sign me up for the list!

Very interested.

The difference between a notary and a lawyer can be confusing as a foreigner. "O notário" (a notary) is a government position in Portugal. The role of o notário in the home-buying process is to oversee and approve the signing of official contracts, make sure all taxes and fees are paid, and register your name as the new owner with the Conservatória do Registo Predial (land registry office), and a small part of the closing fees you pay are for this purpose. This is separate from the role of the lawyer or solicitor, who you would hire to protect your own interests, whereas the notary is there as a neutral party to ensure compliance with government regulations.

This being said, the Notário in Madalena, Vanda Fraga, is amazing. She is the BEST there is. She will leave no stone unturned when it comes to making sure there isn't any other outstanding interest on the property you're buying, and you can have full confidence that when you're there signing the deeds in her office that she and her team have done all the due diligence in connection with the property you're buying.

Yet another perfectly timed video! We are right in the thick of applying for our own Portuguese mortgage. Gosh we sure do appreciate your wonderful videos and content. Many thanks!

This was an awesome informative video, can't wait for more. I don't have a sponsor in Portugal to get a NIF# so do you know if you could contact a lawyer there via email and have the process done before you get there so the purchase of a property, VISA, getting a bank account, and a possible mortgage has no delays?

Hi it’s nice having a house there but when you decide to sell it you pay a heavy tax if 20 or 21 per cent when you live abroad

Thanks for the video guys! I'm traveling soon to the Azores, hopefully to visit some properties I am interested in, and I was wondering if I can get the NIF in Portugal as a non-resident in orden to buy a property? 🤔 I would love to spend the summers there but keeping my residence in Spain. Cheers!

Thank you so much for another great video. Very informative and great step by step process explained my wife and I love watching your videos.