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Find out what Preemptive Rights are when purchasing property

Did you know that, when buying a property, there may be someone with the right to acquire it before anyone else? This right is known as the right of first refusal and plays a significant role in the real estate market.

Preemptive rights give a person or entity the exclusive privilege to purchase a property before it is made available to others. This scenario is common in situations where there are old leases or specific contracts that grant this right.

However, it is important to note that not all properties are subject to preemptive rights, and not all people or entities have this right. This information is generally defined in local contracts or regulations.

Therefore, if you are considering buying a property and are aware of the existence of a right of preference, it is essential to be aware of this from the beginning of the process. This will help avoid unpleasant surprises later and allow for a smoother real estate transaction.

When exploring the real estate market, be sure to ask about the preemptive rights associated with each property and ensure you understand all the conditions involved. This way you will be prepared to make the best decision when the time comes to purchase your new home!

 

Go Crédito

GO Crédito is a company specialized in credit intermediation, authorized and supervised by the Bank of Portugal. We provide credit intermediation and consultancy services quickly and effectively.