PT: (+351) 289 316 394
info
Due Diligence > What is?

Due Diligence > What is?

Your security investment in the Algarve!

All real estate agents should conduct their own due diligence process before marketing their properties. This standard is of utmost importance when it comes to new buildings, housing developments or developments.
The Due Diligence is an investigation and audit of information about the properties, before becoming "VAP Real Estate Properties". This method aims to ensure that whatever is promised during marketing is actually delivered at the time of purchase. All aspects of finance, accounting and tax considerations of the property should be assessed during the process. The technical and ethical expertise, with a guarantee of impartiality and confidentiality. Therefore, the VAP Real Estate Team are essential for buying your property in the Algarve.

It is therefore our responsibility to ensure that all information on properties sold are warranted.
But, how is this done? Here is the procedure.

The Due Diligence Process

The VAP Real Estate has the support of legal professionals, in partnership with our agents will verify the following property:

  • Who owns the project, land and/or property?
  • Vendores are the owners themselves (or legal representatives) to sell?
  • The necessary planning permissions are secured?
  • Is there any kind of planning problem and/or pending licensing?
  • The property has associated debts?
  • The bank loans have been properly secured?
  • What conditions of sale are unusual?
  • Contracts in case of foreign buyer, are presented in the language of the purchaser, in addition to Portuguese?
  • Among other things

The outcome of the due diligence process is usually a report that indicates the general situation of the object of the transaction, where their values ​​are confirmed and identifying their contingencies. This report is one of the preparation of relevant legal documentation, definitive instruments for implementing elements of the transaction, as well as assisting in determining the negotiated values​​.
Our Marketing team never promote a property, project or land, until it is verified that all the items mentioned above, correspond with the law. Thus, only advertise a property when we are in line with the overall concept and securities required.
All of our Agents make this kind of detailed audit, and is therefore for us, a normal working procedure. VAP Real Estate is proud to have highly skilled professionals, beside a team of experienced lawyers to help cover any legal issues. We want to ensure that your investment is safe in Portugal, in accordance with applicable laws and free of any problems!

 

Let us help you find your dream property in Portugal.
If you need more information, do not hesitate to contact us.
Choose to live in Portugal! Choose with VAP Real Estate.