High Specification 2 bedroom Apartment for sale in Vila Nova de Cacela, Algarve

900,000 EUR 774,000 GBP 972,000 USD

Reference: 242936

Bedrooms: 2
Bathrooms: 3
Floor Size: 197 m2

Features

Turnkey

Details

Luxurious newly built 2 bedroom apartment, with stunning views facing the golf course and located within walking distance of the magnificent clubhouse and the award-winning golf course with the signature of Jack Nicklaus.

Luxurious new apartment, which is fully furnished and equipped
Panoramic views towards the golf course and the Algarve coast
Golf resort is located between Faro Airport just 30 minutes and the Spanish border 15 minutes
Area: 197m2 | 2,121 sq ft
Building Area: 197m2 | 2,121 sq ft
Bedrooms: 2
Bathrooms: 3
Energy efficiency: A

FEATURES:
- Air Conditioning

- Sound insulated slabs and double glazing in thermal break aluminium frames
- Solar panels
- Fibre Optic internet
- Fully fitted and equipped kitchen
- Equipped laundry room
- High quality sanitary ware
- Carport and Electrical car charging stations
- All Resort facilities are offered, such as restaurants, bars and living rooms, swimming pools, golf, tennis court, gym, sauna, spa, retail and kids facilities

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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.