2 bedroom Apartment for sale in Lagos, Algarve

400,208 EUR 344,178.88 GBP 432,224.64 USD

Reference: 230824

Bedrooms: 2
Bathrooms: 2
Floor Size: 81 m2

Features

Terrace
Roof Terrace
Fishing Facilities
Golf Resort or Nearby
Gym
Hot Tub or Sauna
Air Conditioning
Renewable Energy
Parking
Garage
Good Condition
New Build or Off Plan

Details

Bright and modern 2 bedroom apartment, ideally situated right in the heart of the Costa Vicentina Natural Park in Lagos, within a luxurious gated estate which is being built to the highest of standards with quality finishes.

Burgau is a picturesque fishing village which still maintains its charm, with typical streets leading down to the beautiful covey beach, very sheltered, where it is possible to still find some small fishing boats. Just 10km from Lagos main town and 3,5km from Luz beach and village.

Burgau is filled with good restaurants, bars and cafes, as well as nice grocery stores and mini markets. There's also a post office, ATM, and church.

At the entrance of the village,this new estate offers just 32 x 2 bedroom apartments, on 2 floors, with children's and adults swimming pools, gym and a garage with allocated parking spaces.

The ground floor apartments open to large terraces and private gardens with direct access to the swimming pools.

The 1st floor apartments also provide good balconies and have private roof terraces.

All apartments have central air conditioning throughout; underfloor heating in the bathrooms; solar panels for the hot water; central vacuum, garage with a parking space and private storage.

The communal green areas provide a beautiful atmosphere.

During construction, new owners have the choice of materials and may also benefit from small changes, according to personal taste and needs, for example: a couple of 2 bedroom apartments could easily be converted onto a 3 or 4 bedroom apartment, obviously paying the cost of both apartments chosen. This is a plus when buying off-plan.

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Portugal Property Buying Guide

1. Signing a Letter of Intent

On finding a property you wish to purchase, your agent will draw up a 'Letter of Intent, this will be signed by both parties, vendor and buyer. Copies of this will be given to the legal representatives of both parties and will be used in preparing the Promissory Contract. Included in this letter will be the price, what is included in the sale, furnishings etc. and any conditions of the sale plus the dates for both exchange and completion.

2. Exchange of Promissary Contract (Contrato Promessa de Compra e Venda)

The buyers lawyers are responsible for drawing up the promissory contract (Contrato Promessa de Compra e Venda) and as part of the process they will have carried out the legal searches and made sure that there are no charges, e.g. utilities, property tax etc. against the property. The contract will contain details of both parties and include clear title of ownership, when payments are due to be made, the completion date and an inventory, if required. The Promissory Contract is legally binding and will generally be signed by both parties and witnessed by a notary/lawyer. The contract will include penalty clauses in case either party does not fulfill the terms of the contract. A 10%, non-refundable deposit is required at this point, this will be paid to the vendor, through the lawyer's client account. Once the contract has been signed, if the vendor pulls out of the contract, they will be obliged to pay back double the deposit to the purchaser. If the purchaser pulls out, they will lose their deposit.

3. On Completion

The amount of time between signing the Promissary Contract and Completion will vary and will have been agreed in the contract. Before Completion your lawyer will need to arrange with a fiscal representative for you to obtain a Portuguese Fiscal Number. The official Deed of Transfer of ownership (the Escritura) will be signed by you (or someone representing you with your Power of Attorney), this is signed at the Notary and they will retain the document. The Deed will be read aloud by the Notary before all participants sign it. Your lawyer will need to check to ensure that you understand what is being said if you do not understand Portugese. The Escritura, once it has been signed, will officially give you ownership of the property, but will still need to be registered in your name on the Land Registry (Registo Predial) by your lawyer. Your lawyer should obtain a copy of this for your records. Once you have completed, the new utility contracts can be transferred into your name by your lawyer.