# Buying in Portugal - estate agent/registered company?



## littlebrownpam (Aug 15, 2012)

Hi,
I've just joined this forum after reading lots of useful stuff on here that I just found through internet searching.
We're going to Portugal next week to look at some properties I have lined up, we're heading to Central Portugal around the Tabua area (some slightly further afield).
I have been furiously researching before we go so we don't get sucked into a dodgy buy!

Could someone explain to me the difference between an estate agent and a registered limited company for buying and selling properties? 
And, is it ok/safe to use a registered company that buys and sells?

Also we are viewing a few properties directly with the owner, assume the sale will be directly with them also (sourced through PurePortugal), any pitfalls to be aware of?

All advice gratefully received!


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## Janina k (Nov 30, 2011)

*Reply*



littlebrownpam said:


> Hi,
> I've just joined this forum after reading lots of useful stuff on here that I just found through internet searching.
> We're going to Portugal next week to look at some properties I have lined up, we're heading to Central Portugal around the Tabua area (some slightly further afield).
> I have been furiously researching before we go so we don't get sucked into a dodgy buy!
> ...


Hello Pam

The estate agent has to be registered at the INCI please see the link below. An estate agent has to be registered and have an office. We found this out when we where getting appointments in Cafes and car parks. The first link is to a topic by one of the moderators of the site and the guys name is Derek and the topic is very good. Great guy and very helpful to both Krystyna and myself. What we have found out is that through an estate agent you have the INCI if anything goes wrong with an advertiser/ LTD company you have no comeback.

Make sure you get your own Lawyer, we did and found out things that we didn't know and they spoke really good English.

Fred

http://www.expatforum.com/expats/po...s-living-portugal/17054-tips-home-buyers.html

INCIHome


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## canoeman (Mar 3, 2011)

Most companies like PurePortugal as opposed to registered Portuguese estate agents who advertise are often advertising private sales, are they dodgy majority no, but like estate agents there is always going to be the odd rogue, personally I wouldn't buy from a company with a Compra de Venda Licence because somewhere there taking a commission.

The important thing is to understand the different land classifications,building designations i.e when is a ruin not a ruin, is it a house or a barn, has it a habitation licence, can I renovate without permission then the stages and checks before committing yourself to a Promissory note and double checking estate agents, sellers claims and statements. 
There's loads of choice don't be pressurized.


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## littlebrownpam (Aug 15, 2012)

I did just reply to Freds comment but can't see it in the thread, first time I've used a forum so not sure what I have done wrong, will try again!

We will definately use a good lawyer.

What I did ask in my reply was can you risk using a registered company instead if you have a good lawyer and double then triple check everything before signing anything?

Everthing we've found that is what we are looking for is either being sold privately or through a company, some of which look promising.

If anyone can recommend some estate agents in Central Portugal that would be really helpful.

To canoeman, thanks for the reply. The whole type of land, type of building, classifications has been giving me a major headache today! I think I understand it now but must admit I am pretty terrified of being suckered in to buying something that's no good for us!

However, I would hope our lawyer would make sure we avoid this otherwise what are we paying him for!


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## canoeman (Mar 3, 2011)

What exactly do you mean by a registered company? here in Portugal or UK there are certain ones in UK I wouldn't touch with a barge pole, the type that will fly you out, show properties they want you to view, then hassle you to make a decision.

Yes you should have a good lawyer but you also need to know and understand the questions to ask


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## littlebrownpam (Aug 15, 2012)

They seem to describe themselves as a "registered limited company for buying and selling properties" Their company names end Lda and they have a registered number (not sure where I could check this?). I have been told by one of these companies to beware people who don't have this.

I would not say they are companies who are flying us out and hassle us for a sale.


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## canoeman (Mar 3, 2011)

If its Lda then it's a Portuguese registered company. 
Licensed to buy and sell(Compra de Venda), not for me personally but that's my choice, all estate agents apart from being registered with an AMI licence would also be registered Lda's as well, yes they will tell you that, they don't want you using advertising companies like PurePortugal etc, at the end of the day it's finding your ideal property and making the right checks. 

Who you select to view with is your choice, and to a degree you should get a better price through an advertising company because seller generally pays a fee rather than commission + IVA(VAT)


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## pintarroxo (Jun 15, 2012)

If I can jump in with a related question... 

Do real estate agents (at least in Lisboa) use a multiple listing service where they can show all properties in town and share in the commissions, or do they only show the listings of their own brokerages? 

Thanks!


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## canoeman (Mar 3, 2011)

Yes and no, a lot of agents are in groups or affiliated to banks or subscribe to listing sites like Casa Sapo or as you suggest operate a multiple listing service and share commission, but equally a lot of sellers list with multiple agencies on a non exclusive basis, or maybe one with an exclusive who might or might not agree to split commission with another agent.

There's a lot of commission to split here rates are high


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## anapedrosa (Mar 21, 2011)

It is not an MLS the way we have in North America. It's worth checking multiple sites. I found a property listed on Casa Sapo multiple times, actually at a lower cost than the agent I was working with had listed. I showed him the less expensive listing and that is where we started negotiations.


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## -mia- (Dec 23, 2009)

canoeman said:


> Licensed to buy and sell(Compra de Venda),


I think you mean compra e venda, as in they are licensed to buy and sell property. Aren't all agents registered to buy and sell?


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## canoeman (Mar 3, 2011)

Licence for Compra e Venda different to an Estate Agents Licence in so much as the purchase is made from the Lda or licence holder who is named in Deed, where an E/agent acts as the agent for owner and it's the owner named in Deed. 

Don't believe E/Agents are registered to buy and sell their licence covers the process of verifying ownership, finding buyer and representing seller to successful conclusion


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## pintarroxo (Jun 15, 2012)

Thanks, helpful responses!


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