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Property Purchase Process

Documents required

Key documents required in a sales contract include the certidao do registo predial (land registry certificate), planta de localizacao (official map with the property’s exact location), the certidao matricial (tax information certificate) and the contrato promessa de compar e venda (the promissory contract of purchase and sale).

The promissory contract, for instance, sets out the terms of the transaction – property details, price, method of payment, completion date, warranties, penalties, etc. Once signed, the buyer will normally be expected to pay a deposit of 10% to 30%. This contract should be signed in front of and registered by a notary as a matter of formality.

Always check that the agent is from a company with an official ‘nif’ registration number, akin to being registered at Companies House. There is no control over estate agents or developers. There are plenty of opportunists on the islands and a lot of naïve or inexperienced buyers. One Cape Verdean lawyer says:

“From clear title to the final escritura [deed], be diligent with your purchase and check and re-check the paperwork at every stage.”

A key point is to declare the full value of the property at the escritura.

As a percentage of the sale price, you can expect to pay 5% to 6% in purchase fees and charges (taxes, legal, notary, etc).