With a couple of viewing trips under your belt, you’ve probably narrowed down your property search to a small handful of options and have worked out how you’re going to pay for it. But, once you settle on that dream home – the one you definitely want – how do you offer on it? Here are our top tips for making an offer on a home in Portugal.
1. Settling on a price
Your agent is a great source of info on the local market, and will be more than happy to provide you with advice on whether the figure you choose is just right or a bit too low or high for the market. However, do remember when you’re making an offer on a home in Portugal that your agent is working for the seller. The higher the price you go for, the greater their commission. This means it’s crucial to use news sources like ours to keep yourself informed about the market. Being in the know and able to ask educated questions will show you mean business.
2. Strike the right balance
Tread the fine line between coming across as overly keen and not interested enough. Let the seller and their team know how much you know your stuff, and that you’ve viewed a lot of homes. You want to be polite, but business-like, reading their emotions a bit like a poker player. With some people when making an offer on a home in Portugal, you may want to be more enthusiastic, or play it cool with others.
You want to be polite, but business-like, reading their emotions a bit like a poker player.
3. Keep the seller on your side
Remember that you are buying something that the seller has invested a lot of time, energy and care into. You don’t want to be too aggressive in your pricing or your attitude – this could cause any goodwill to completely disappear. There’s a lot of competition in many areas for homes, so do keep up a good relationship with the vendor.
Find out more about making an offer on a home in Portugal with the tips and tricks from our guide, How to Negotiate Abroad.
4. Control the negotiations
When making an offer on a home in Portugal, many people think of themselves as in a position of weakness. What if I lose out on the house? What if it falls through? The truth is that you’re in a position of strength. The seller needs your money, whereas you can walk away. Use this to your advantage when negotiation.
5. Make a quick counter offer
Remember that any delay in responding leaves room for a seller to consider other offers.
How to negotiate abroad is the guide to put you back in control: