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CaboVerdeProperty Infopoint
Tips for property buyers


Insider-tips for buyers or house builders
For the successful acquisition of a property there are a few "golden rules", to which you must adhere, in order to assure a successful and correct processing of all contracts including building contracts. :
1) Do not come to any hasty decisions !

A purchase needs to be well considered, so take your time. Collect information on the various offers, before you make a final decision. Check out the houses and speak to the owners. Thoroughly go over each property and evaluate yourself the pros and cons.
2) Do not sign anything at all at the outset...

Also no pre-contracts - if you have come to a decision on which property you want, look for a reliable translator to advise and support you when you are closing the deal, be it for building or purchase contracts and in particular, the final deed of purchase contract at the notary.
3) Inquire at the town hall ...

...
Learn about the existing town planning and request any printed information on this subject. ("Informaciòn Urbanistica")
4) On no account should you forget to ...

... check out the property's rent or lease contract, tax debts outstanding and payments due , to any owners' association. Outstanding bills for telephone, electricity, water. It is especially important to be sure of the minimum plot size allowed in any given area, and to know the exact size of the land, also regulations dealing with size and shape of structure. Have the property surveyed, and also check up on the existing "Escritura" and its registration at the land registry office.
5) Decision made? Then the services of a lawyer are advisable ...

If you have made up your mind on a particular piece of property, then. do take on a lawyer. He will be best acquainted with the local situation. It is important to know that only purchase contracts drawn up in a notary´s office can figure in the official register.
Acquistion of property in Cape Verde, however, need not necessarily
carry this procedure, contrary to other countries, but this formality
is
to be recommended without fail. Only in this way, can the newcomer
enjoy the protection of the law, his property being correctly registered.
6) A Notary ...

... checks on the validity of ownership of the object against a land registry extract , it is not his job to be informed on any town planning regulations. You can get an up to date extract at the land registry office. (nota simple informativa)
7) Finally some general pieces of advice

In any of your contracts, make sure everything is drawn up precisely
and in detail, because at a later date additional requirements
could be expensive. In building, your contract should contain a
clause giving the
date for the finished object, and the amount of penalty for non
completion . Always be watchful with so-called "private contracts" ("Contrato
Privado")
or Contrato de Compraventa . These are not pre - contracts . A
spoken promise to purchase can be valid in Cap Verde, and to get
out of this one can be trying
! Having a new house built? Payments are usually paid at predetermined
times, or specified building stages.
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