Purchasing Property in Portugal.
Great info about buying Portugal property!

Purchasing property in Portugal with a local mortgage will require proof of income and outgoings. Normally, a mortgage will only be given on up to 80% of the property value and be a repayment type. A neutral, government appointed official called a notary regulates the buying process. It is this notary who makes the necessary checks on the property and witnesses and registers the transfer of ownership. It is advisable to employ the services of an experienced lawyer, who is English-speaking, to safeguard the buyers interests with regards to the property purchase. A legally-binding, preliminary contract is drafted and signed by the vendor and buyer once a purchase price has been agreed. This contract details the agreed price and a date for the completion of the property purchase.

A normally refundable 10% deposit is paid by the buyer; if the vendor pulls out, the vendor usually has to pay the buyer double the deposit back. If finance is being brought in from outside of Portugal, a licence from the Bank of Portugal will be required. Once the completion date arrives, the vendor and the buyer sign a final contract in front of the notary, the funds are transferred and the purchase is registered with land registry. The cost of purchasing property in Portugal translates to around 10 to 12%.

Buying Property in Portugal