Buyer's Guide to Cape Verde

Cape Verde follows Portuguese law very closely. Cape Verde has a notary system and you will need a sworn translator for signing.

On finding a property you will be asked to put down a deposit or reservation fee, this is usually around 10% of purchase price. You should always ensure deposits are refundable if you need a mortgage to complete and this has not already been arranged. Lending is limited in Cape Verde with few lenders and a slow process. Interest rates at present remain high in comparison to Europe.

Many banks will not undertake a formal valuation and it is unlikely the property will be valued above the purchase price so you will need to be able to cover deposits and costs.

After contracts are signed your legal adviser will undertake the relevant searches. An Estate agent may offer and be capable of undertaking these on your behalf but it is always sensible to appoint your own independent adviser.

All purchase are signed in front of a notary.

Other Important points to consider

Take independent legal advice. Cape Verde is an emerging market with all the issues this can bring.

Cape Verde is bureaucratic and laid back be prepared for this.

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