Spacious 3 bedroom Villa for sale in Praia da Luz, Algarve

965,000 EUR 829,900 GBP 1,042,200 USD

Reference: 244912

Bedrooms: 3
Bathrooms: 3
Floor Size: 578 m2

Features

Balcony
Garden
No Pool
Air Conditioning
Fireplace
Renewable Energy
Parking
Garage

Details

Very well presented 3 bedroom modern villa with garden, ideally located near the beach and all amenities in Praia da Luz.

The entrance hall leads to the cosy open-plan living area, which consists of a dining room filled with natural light and a living room with a fireplace, perfect for relaxing on colder days.

The fully-equipped kitchen is accessible from the living room and is adjacent to it. There is a compact dining area and ample stowage space with a mini-bar. From the kitchen, there is access to a surprising additional living area with direct access, via large windows, to the terrace and barbecue area of the outdoor recreation area.

The garden offers tranquilly and privacy.

On the first floor there is a bathroom, an office, a garage with an electric gate for one car, with extra storage space and a technical area. There is a covered outdoor space, and free space for a swimming pool or additional parking.

The second floor is accessible via stairs, which lead to three bedrooms with natural light, of which two have balconies to appreciate the pleasant Algarve climate. One bedroom has an en suite bathroom, and there is an additional bathroom for the other two bedrooms.

The villa has its own unique characteristics, including central heating, solar panels for water heating and energy production (with one storage battery), and a wood-burning furnace.

With a privileged location, it is 5 minutes from the town centre and the beach. It is also about an hour away from Faro International Airport.

Fully equipped kitchen Barbecue Wood oven

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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.