Authentic 2 bedroom Villa for sale with panoramic view in Praia da Luz, Algarve
The property offers views of the famous black rock volcanic headland in Praia da Luz, along to Lagos and even far beyond taking in a fair stretch of the Algarve coastline.
On entering the property up a small flight of stairs the hall gives access to a fully equipped kitchen with high breakfast bar and on into a spacious living room with dining area complimented by an open fireplace for those cooler months.
There is a lovely terrace for Al Fresco dining and to sit and relax whilst enjoying the panoramic view.
Along the hall there are 2 bedrooms both with fitted wardrobes and with windows that offer wonderful views and plenty of natural light. The main bedroom has an en-suite bathroom with another shower room and guest WC conveniently located next to the second bedroom.
The property has been pre-installed for central heating and air-conditioning would be easy to install. The property has windows on two sides, so all one really needs to do is open a window on each side to benefit from cross ventilation.
This part of the Algarve is a few degrees cooler and there is often a refreshing afternoon breeze that cools the building making it much easier to sleep.
It has many of the original fixtures and fittings and has been a well-loved holiday home for many years.
This is a great lock up and leave property that could prove to be a good source of rental income when not being used by the owner.
A short 5 minute drive leads to Praia da Luz to the east or equally Burgau to the west. Lagos is around 10 minutes, and the beaches of the wilder west coast around 20 minutes drive.
The resort features a practice par 3 hole course, but there are many golf clubs in the area. It also has a huge swimming pool that can be accessed for an annual fee by owners and guests and a managed reception on site throughout the year.
Features
Fees Paid By Seller
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This Villa is located in Praia da Luz 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.