Selling your property in Portugal?
Selling a property you own abroad, whether it’s a holiday home, rental or investment, can be a daunting process. Unfamiliar language and processes can make the simple seem complex and create hurdles where you wouldn’t expect them. Taking care of things remotely can make it harder to stay in control and make the right decisions at the right times. And dealing with large sums of money can sprinkle added stress over the entire experience.
So you want to sell your Portuguese property?
Portugal has become one of the most popular choices for Brits buying property abroad in recent years. Fabulous beaches and countryside, wallet friendly prices for everything from the excellent food and wine to spectacular holiday homes, and it doesn’t take too long to get there – what’s not to like? But if you do decide to sell, there are some important factors to take into account when bringing your proceeds back to the UK.
In Portugal, the person who prepares the contracts of sale and makes sure it’s all above board is called a notário. Crucially, they’re also the person who handles the money side of the sale – transferring the proceeds from the buyer to you, the seller.
Without clear instructions on payment and a knowledge of how the system works, you could find yourself on the wrong end of extortionate fees and unfavourable exchange rates from a bank to bank transfer – or even having to go to Portugal to retrieve your money.
Here’s how we can help:
- Open a Clear Currency account – it’s free, comes with no obligations and takes about two minutes.
- Once your sale is agreed, we’ll provide you with your Clear Currency account details where the notário should send the sale proceeds – this is important as sending it direct to your UK bank account will be expensive and sending it to a Portuguese bank account can make it hard to get your money remotely.
- When you pass on these payment details to the notário it should take up to two days from when they receive the money to send it to your Clear account – we’ll let you know when it arrives.
- We’ll exchange your money at the [best possible rate] immediately and have it ready to transfer to your UK bank the same day or the next – or if you’re in no rush, we can keep you up to date on currency movements and agree a forward rate that could get you more pounds from your euros.
We’ve helped thousands of people and businesses move their money back to the UK from property sales overseas. With our detailed knowledge of the processes for buying and selling in Portugal we can make the whole experience as painless and quick as possible – and with market-leading rates we can save you money along the way.
The big challenges of selling an overseas property
- Managing the sale remotely from the UK
- Converting large sums of money economically
- Unfamiliar foreign exchange policies for property sales
- Fluctuating and inflated exchange rates
- Hidden bank charges and fees
The benefits of using Clear Currency when selling your Portuguese property
- Expertise to help you pick the best time to move your money
- Detailed knowledge of the Portuguese property sale process
- Secure and reliable – just like the banks, we’re FCA regulated
- Protection from fluctuating rates with locked in forward exchange rates
- Huge savings in hidden fees, charges and inflated exchange rates from the banks
Bringing your money back home
We can help take the stress away from an important but all too often overlooked part of your overseas property sale – actually bringing your money back home.