Stunning 2 bedroom Apartment for sale with sea view in Lagos, Algarve
Discover an excellent opportunity to own a stylish apartment at the Belmar Spa & Beach Resort, one of Lagos' most desirable developments.
Ideally located less than 100 metres from the award-winning Porto de Mos Beach, the apartment enjoys one of the best positions in Lagos. Popular with families, the beach offers golden sands, crystal-clear waters and excellent beach-front restaurants. A network of spectacular coastal walking trails also begins on the doorstep, providing easy access to some of the Algarve's most breathtaking scene...
Discover an excellent opportunity to own a stylish apartment at the Belmar Spa & Beach Resort, one of Lagos' most desirable developments.
Ideally located less than 100 metres from the award-winning Porto de Mos Beach, the apartment enjoys one of the best positions in Lagos. Popular with families, the beach offers golden sands, crystal-clear waters and excellent beach-front restaurants. A network of spectacular coastal walking trails also begins on the doorstep, providing easy access to some of the Algarve's most breathtaking scenery.
Residents enjoy an outstanding range of resort facilities, including four outdoor swimming pools, one reserved exclusively for adults, together with a luxury spa featuring a heated indoor pool, hydrotherapy pool, Turkish bath, sauna and a full menu of spa treatments.
The recently refurbished restaurant offers an elegant fine dining experience, while the resort hosts regular social events enjoyed by owners and guests throughout the year.
Belmar also offers a comprehensive property management service and an established rental programme, enabling owners to generate rental income while their apartment is professionally managed.
Combining an exceptional beach-front location, outstanding facilities and excellent investment potential, this apartment offers the perfect blend of lifestyle and income opportunity in one of the Algarve's most sought-after coastal destinations.
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This Apartment is located in Lagos in Portugal
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Buying a Property in Portugal
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.