Thx. Nice of you to inform us about this.
Congratulation with your new Home.
Greetings.
Thomas from Denmark.

Very uncomfortable transaction indeed. Very low yearly property taxes though. Affordable in general terms for US standards (It’s crazy I find myself saying that). How many months from viewing to buying ?

hi keep up with all the important information, great videos, after visiting madeira in may me and my wife are looking to move there in aprox. 4-5 years, that is why I trully appreciate the time you take in making the videos, thanks again Rene

Thank you, for breaking it down great information 👍🌍

Really interesting and informative, thanks Guys. Congratulations on your new home. 😊🏡

Thanks for the great info. I was wondering if you had any choice in the furniture and inclusions or was it already chosen?

Thx so much for sharing and really interesting as always. Much appreciated!

How wrong of these guys thinking that a business transaction is the same like in North America!!!
People, you are in Madeira. It is Portugal!!! In America all the states have their own laws Why do you think Portugal has to follow America!
Pure ignorance!
Canada is also in North America and the real estate dealings are different too. Yes, in Toronto we have to pay a land transfer, property taxes, lawyers fees, real estate fees, Mortgage approval, house insurance, Deposit, offers and you name it. Shocked? No! The the laws of the land.
My son bought a house recently and the previous owner wanted to meet my son and his young family before selling it. He put an effort to renovate the home and he wanted to meet my son to see if he would keep the home the same way… The owner liked my son and he approved to sell it. it is not usual but it happened.
The seller bought dinner in a restaurant for my son and family and the real estate agents (my son's and the seller's). He stays in touch with my son!!!
In Canada there are Real estate Bidding wars!!! Fair? Shocker? That what it is! And yeah! it is North America! Not USA!!!!!
Stop thinking about America. You are in Madeira (Portugal)!

Excellent. Exactly what we were looking for in the previous video. Most appreciated.

Video request idea-. You mentioned your first and second down payments. Could you discuss the financial institutions you checked out in your selection process which are local there on Madeira? Please discuss your observations and "shockers" in Portuguese banking industry.

Congrats! Hope to see u in person someday when I move there from New Mexico USA. Keep well….be happy.

Thank you, Doug and Monique! This is such valuable information. Three questions if you don't mind answering: I didn't see a fee for your real estate agent. Was that included in one of the other fees? You live in a building that has other units. Do you pay monthly Home Owners Association (HOA) dues there? Finally, how long was your escrow? In the US it's typically 30-45 days. We appreciate this content so much as we get ready to join you on the island.

If you travel to Auckland New Zealand, we have a nice 4 bedroom villa to exchange. Cheers

Wow, 4% total closing costs is fantastic, we paid more than 6.5% for similar priced home in the Algarve. ☹

Was the after party also your expense, or was covered by the Lawyer who got a pretty bigg chunk. I hope he was not an American Lawyer (Apologies to any American Lawyer reading this comment..)

Excellent breakdown of all the nuances going into the purchase of a property in Portugal. Great learning process and thanks for sharing your experience and bringing to the attention of wannabee home owners in Portugal. Some questions though….
1. I heard that Portuguese govt is clamping down or imposing new rules on properties being registered as principal residence to be a residential dwelling only and NOT rentable for short term as Air BnBs etc.. especially if it is a part of multiple dwelling like as say 6 flats in the same general building. Did you hear anything with restrictions on those lines?
2. Since i heard that you were planning to keep the property as flexible as can be to be rentable in your absence (when travelling and away), which is a good idea and will bring in some cash flow to fund the monthly cost of mortgage or interest otherwise on the investment made. We will definitely visit Portugal in the not too distant future and if your property is going to vacant would be our first choice for a short term rental (1-2 weeks).
3. I heard that the Mortgage interest rates are pretty low and if I may ask what would have been the monthly payments on the purchase you made like the Down payment and P & I payments and the duration of the mortgage. If this is a personal question my apologies for asking it. Was more for an informational purpose.
Finally thank you for being so detailed and transparent in your home acquisition, and we wish you all the Happiness, Joy and Good Luck with your new Home. Best Regards.

What about building inspection, was that done and who paid for it? Also did they help with transfer of electricity/gas, were appliances included and if so, any warranty?

Outstanding Video! JP

Great video guys, thanks for sharing. Other than paying the taxes early, I guess it doesn't matter as long as you can get a refund if something happens between than and the final closing. They don't seem outrageously priced to me. And the after party, I love that idea. Nothing else seemed to unusual. I have always met the buyers or previous owner on every house I purchased or sold. If not during the selling process, always at the closing table. Which usually involves 6-8 people, a bit less than your experience.

I'm in the US and I have viewed properties with the owners there several times. I definitely prefer when they are not. I also paid 6 mos property taxes upfront as a part of the closing. There were tons of fees involved for things like title company fees, loan company fees and HOA fees.

Good for you. parabéns! I'm looking for a one bedroom and will need to get a short-term mortgage. Now I know what to expect. Thank you.

Thanks for sharing such useful information. Would you please be so kind to share your lawyer contact details.

Great detailed information, it is "eye opener" knowing the process, fees, and taxes involved in the purchase of a property there. Now we know what to expect when is our time to do that. As always, thanks so much for sharing this information. Your experience is helping me and my husband to prepare financial and mentally for our next move. Blessings to you!

Thanks Doug & Monique, great information here & always from you two!

Is Doug Canadian ? He sounds like he has a Canadian accent ? Just curious 🙂

Great video! Congrats on the new place and fantastic view. 😎 I appreciate the details as it makes the process less scary going forward.

Thanks , congratulations 🎊 .

Thank you for the fun and information video. I think you have done an awesome job moving to Madeira, Portugal 🇵🇹 and buying beautiful home there. 👏🙏❤️

I've noticed that my parents' names are a big thing in Portugal?? They are wanted on a lot of government forms?

Thank you so much for your willingness to share these expenses. I’ve been trying to research this and have found vague references to the transfer fees and closing cost… but wasn’t really sure what they might equate to. I just kept seeing other Americans saying they were high or shocked by the cost. Also, no one had told me the seller shows the house. This really helps me… as I consider making a move and a purchasing a property.

My Visa was just approved!! I leave on July 4th haha 😂

Thank you for sharing the home buying experience, and all the costs associated. I’m curious as to what the negotiation experience was like. What was the listed price and how did you find the property? We are moving to Portugal in October this year with plans to rent for about a year or more then possibly purchase a property.

thank you for your video. can you let us know your lawyer's contact?

I recognized your attorney. Dr. Freitas, correct? We are currently working with him on the purchase of a property and feel very fortunate to have found him.

That’s how it’s done in Europe, in Turkey you also have to bring a certified translator.

Hi could you explain why you picked the area you are living in over other areas can you walk to the shops etc

How much taxes would you need to pay in USA for purchasing a property in Portugal? How much taxes if you decide to rent it out short or long term?

Thanks for taking the time to explain the purchase details. Now, we all have a better ideia of the process.
Muito obrigada!

Brilliant video very useful information thanks 😊

That was quite detailed. The only other thing is did you buy it fully in cash? If not, how much was your downpaymnet? Also, what is the process of getting a mortgage for a non- EU person? A video on the mortgage process would be great.

Thanks for ACTUALLY explaining things. So many times, things are just glossed over.

thanks so much for this. I've just purchased as well, but it's still being built. This is very useful for me.

Thank you greatly appreciated

Great video. Very helpful 👍

As promised, we break down ALL the FEES and COSTS associated with buying real estate here in Madeira, Portugal – from our experience. Do you find it shocking? 😱😉