Stunning 3 bedroom Villa for sale in Estoi, Algarve
This superb property was developed to make the most of the magnificent sea view to the south, on tiered floors, following the natural slope of the land.
It is composed by an entrance hall leading on the right side to a nice modern equipped kitchen with dark granite worktops, straight forward leads to the dining area and living room with wood burning stove. From both kitchen and living room there is direct access to the pool area, a laundry room, cupboard, shower room and a guest WC.
On the upper floor are 3 bedrooms with wardrobes, 2 of them with en suite bathrooms and a nice terrace, behind the house, but attached there is a large room, unfinished, that can be part of extension space of the house and can be converted into accommodation/ gym/TV room. Next to it is a very cosy shaded terrace corner.
The 4,040m2 land is partly gardened and very well maintained, the access to the property is through an electric gate along a driveway to the double carport.
Comfort and extras: Air conditioning throughout, sound surround and alarm system, gas deposit, electric roller shutters, underfloor heating in all bathrooms, several storage cupboards and own borehole for water supply.
Features
Fees Paid By Seller
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This Villa is located in Estoi 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.