CPCV risk review

The CPCV is where deposit risk becomes real.

The CPCV, or contrato-promessa de compra e venda, is the promissory purchase contract that comes before the final deed in Portugal. For a foreign buyer it is the moment deposit risk becomes real, so the contract needs to protect your financing position, deposit, deadlines, document rights, and ability to walk away if key checks fail.

By Matan Gvili, Real Estate Advisor

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Before reservation deposit

Avoid paying a non-refundable reservation amount before basic document checks are clear.

Before CPCV signature

Make sure financing, document and deadline protections are written into the contract.

Before escritura

Confirm IMT, Stamp Duty, bank release, notary documents and seller authority are ready.

CPCV questions foreign buyers ask

What is a CPCV in Portugal?
The CPCV is the promissory purchase and sale contract. It usually sets the deposit, deadline to escritura, buyer and seller obligations, financing conditions, penalties and what happens if either side fails to complete.
What does CPCV stand for?
CPCV stands for contrato-promessa de compra e venda, literally the promise contract of purchase and sale. It is the binding agreement signed between accepted offer and the final deed (escritura) in a Portuguese property purchase.
Is a CPCV legally binding?
Yes. Once signed, the CPCV binds both sides to complete on the agreed terms. Walking away has real financial consequences: a defaulting buyer typically loses the deposit, and a defaulting seller is typically required to return double the deposit under Portuguese practice.
How much is the typical CPCV deposit (sinal)?
The sinal is negotiable, most commonly 10% of the purchase price, and sometimes up to 20-30% in competitive situations. Financed foreign buyers should keep the sinal as low as the seller accepts until the bank approval is unconditional.
Can I lose my deposit after signing a CPCV?
Yes. If the buyer defaults without protection written into the CPCV, the deposit can be forfeited. If the seller defaults, Portuguese practice often requires the seller to return double the deposit, depending on the contract.
Who should review the CPCV?
A qualified Portuguese property lawyer should review it before signature, especially for foreign buyers, financed purchases, remote signing, older properties or unclear documentation.

Keep reading

The CPCV sits inside the wider purchase. Our guide to buying a house in Portugal walks the full path from NIF to keys, and the buyer-side legal review page covers what a Portuguese lawyer verifies before deposit, before signature, and before the deed.