3 bedroom villa for sale with 199m2 of land, Quinta do Lago, Central Algarve, Algarve Golden Triangle
695,000 EUR
632,450 GBP 771,450 USD
- Bedrooms: 3
- Bathrooms: 3
- Floor Size: 199 m2
- Plot Size: 199 m2
- Work Required: None
- Swimming Pool
- Balcony
- Tennis Court
A bright and attractive attached villa within the enviable setting of beautifully landscaped communal gardens, just a few minutes stroll from the lake, the beach and amenities.
The property features:
Ground floor - an open- plan living area with new, fully fitted kitchen, living and dining area leading out to the covered terrace and South/west facing garden.
Also on this floor there is a versatile double bedroom connected with sliding doors to the sitting room which could also be used as an office or extra living area. Guest bathroom and storage space.
First floor - Two large bedroom suites leading to a sunny terrace.
The resort offers excellent communal facilities and the gardens blend very well into the natural beauty of the Ria Formosa nature reserve.
A few minutes stroll to the lake and the beach and perfectly positioned to benefit from the all new Quinta Do Lago 'Sport's Campus'.
- Air Conditioning
- Under Floor Heating throughout ground floor and all bathrooms.
- Security System
- Garden View
- Fully equipped kitchen
- Tennis Courts
- Communal Swimming pool
- Gymnasium
- Restaurant
Energy Certificate: B
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Guide to the Portugese Buying Process
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.
