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Here is part 2 of 3 of our experience buying an apartment in Tavira; read part 1 here.
Quick Recap
In Part 1, we shared how buying an apartment in Portugal went from an exciting dream to something much more complicated. After falling in love with Tavira and deciding we were ready to put down roots, we found an apartment that felt right and made an offer. Everything moved quickly at first, and it finally felt like the plan we had been working toward was actually happening.
That excitement didn’t last long. As we moved into the promissory contract stage, unexpected issues and growing uncertainty started to creep in. What seemed straightforward on the surface quickly revealed how stressful and unfamiliar the home buying process in Portugal can be, especially as foreigners navigating a system very different from what we were used to.
By the end of Part 1, we were committed financially and emotionally, but far from feeling secure. What came next would test our patience, our nerves, and just how badly we wanted this place to become our home.
Timeline and Deadline of Our Buying an Apartment in Portugal
- Mortgage approval was only valid for 90 days, adding pressure to the timeline
- The sellers wanted to delay signing the deed until a specific future date
- Missing the contract deadline meant risking our deposit
Where We Left Off and Where The Frustration Grew
So the owners decided they were going to go on a vacation and told us they would be back in the middle of October, and we could sign soon after. Meanwhile, we found out from the bank that we would have 90 days from the approval to sign the deed, or the approval would expire. If this happened, we would have to submit current financial documents, and they wouldn’t be able to use our stuff from the year before. This posed a problem because at the time, we didn’t have income. Karl hadn’t started working yet, and I wasn’t making anything either. We knew we had to get jobs, and we planned on it, either way, but it made it a bit scary. If we weren’t able to get one, we would not get approved and would lose our deposit.
We had our lawyer ask the sellers if they would be willing to sign the deed early, and offered to let them stay in the apartment until the end of October. They could let their lawyer sign, and we wouldn’t have to worry about our approval expiring. They absolutely refused. So we had a couple of months to figure out a job situation or risk losing a lot of money.
Some Good News
Fast forward a little bit, and Karl got a couple of contracts! Yay, we were going to be able to go forward with it. So we just continued on with our lives, waiting for October so we could sign and move. We also gave notice to our landlord that we would be moving out by November 1st.
In September, the bank asked for the updated documents. We sent them over right away and figured it would all happen quickly since it did the first time.
Yay, We are Moving! Or Are We?
October came, and we were told we would be signing on October 27. Yay! We had a date. We found this out on October 25. We started to pack. We packed up almost everything. Then we got a message on the 26th saying the sellers decided they didn’t want to sign until November 27, and they would sign only on November 27. No sooner, no later.
We immediately called our landlord with fingers crossed that she hadn’t already gotten a new tenant. She told us there was going to be someone coming, but not until Decembe,r so we were ok to stay for another month. So ok, we had to wait, again.
Bank Issues: Approvals are only Valid for 90 Days
Meanwhile, our lawyer informed us that the loan was still pending approval. It was being held up at the main branch in Lisbon. He had been in contact with the woman from the bank, but she was not being very cooperative and wouldn’t give him any information. I also tried contacting her and was having no luck getting any response. Now we were worried the approval wouldn’t come in time, and it would pass the deadline of the contract.
What We Learned About Mortgage Timing in Portugal
- Mortgage approvals can expire before the deed is signed, so timing matters more than you expect
- Be prepared to submit updated documents if your approval window starts closing
- Changes in employment or income can directly impact your mortgage approval
- Bank timelines can move slowly, so having a backup plan or second bank option can reduce stress
More Difficulties Buying an Apartment in Portugal
We were also still worried about the new tenant. Where would we go if it wasn’t done? Would we have to find a short-term rental? What if the mortgage wasn’t approved at all? Our lawyer told us to be prepared for a fight. We had proof that they refused to sign when everything was ready, but they could try to fight that we violated the contract, and we could lose the deposit. He told us it could get really ugly. I was so stressed out and terrified of how this would all play out.
I was able to talk to the new tenant, and she didn’t know when she would be moving in. She was waiting for her visa approval and said she didn’t mind us staying until she got there. So we at least had some time. We also had a few friends who were going to be out of town for the month of December and generously offered up their homes if needed. So at least we knew we had somewhere to stay if necessary.
Trying a New Bank
November 27 came, and we still didn’t have approval from the bank, and no news of what was going on. We received a certified letter a few days later giving us 30 days to sign, or they would go after us for violating the contract. Our lawyer told us it was good news that they gave us more time. We decided to try at another bank too to see if we could get an approval from them quickly. Meanwhile, I was so upset because all of this could have been avoided if they had agreed to let us sign before. Time was ticking, and my stress levels were through the roof.
Tips if You Need to Extend a Deed Date
- Ask seller for early signing even if they plan to stay longer
- Have legal proof of readiness if contract terms get argued
- Know options if you might lose deposit
Light at the End of the Tunnel
Finally we got our approval on December 19! We also had a date set to sign the deed: December 27! We were so excited but also still nervous that something else would go wrong. This whole thing had been such a headache, so we anticipated more problems. But I was hopeful that it would go well. I was also so tired of living out of boxes. We didn’t want to completely unpack to do it all again, so we had been just pulling things out if we needed them. We had less than 2 weeks and spent the whole time hoping everything would go smoothly…
The story isn’t over yet! Click here for part 3!
Frequently Asked Questions About Buying an Apartment in Portugal
Can a seller delay signing the deed?
Yes. A seller can ask to delay signing the deed, but this usually needs to be agreed to by both parties. Any changes should be documented by your lawyer so you are protected, especially if deadlines are tied to your mortgage approval.
What happens if a mortgage approval delay slows everything down?
Mortgage approvals in Portugal are time-sensitive. If delays push you past the approval window, you may need to resubmit documents or request an extension. This can add stress and uncertainty, so staying in close contact with your bank and lawyer is critical.
Can you lose your deposit if deadlines shift?
Yes. If contract deadlines are missed and extensions are not properly agreed to, you can risk losing your deposit. This is why legal guidance is essential when timelines start to change, even if the delay is not your fault.
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