Modernised 4 bedroom Villa for sale in Cascais, Central Portugal

2,800,000 EUR 2,408,000 GBP 3,024,000 USD

Reference: 241516

Bedrooms: 4
Bathrooms: 5
Floor Size: 260 m2
Plot Size: 929 m2

Features

Good Condition
Balcony
Golf Resort or Nearby
Possible Extra Dwellings
Parking
Garage
Turnkey

Details

Exciting opportunity to acquire a spacious 4 bedroom villa, dating back to 1890 and now undergoing a major refurbishment in a superb location just a few metres away from Praia da Azarujinha, a prime area of Sao Joao do Estoril.

The 260m2 property sits in a plot of 929m2 it is spread over 4 floors:

- Ground floor with a 60m2 dining and living room with direct access to the garden and the swimming pool, kitchen and a 30m2 suite;
- First floor with 2 suites, with balcony and sea view, each one with 20m2;
- Second floor: a 30m2 Master Suite with an extraordinary sea view.
- Basement with a bathroom and a 40m2 living room with windows and plenty of natural light.
- Annex with a covered garage area for two cars, plus 4 outdoor parking spaces.

The works are ongoing and the property can be sold with the completed works and in turnkey condition for the total value, or it can be sold in its current condition for EUR1,800,000.

Cascais is a Portuguese village famous for its bay, local business and its cosmopolitanism. It is considered the most sophisticated destination of the Lisbon's region, where small palaces and refined and elegant constructions prevail. With the sea as a scenario, Cascais can be proud of having 7 golf courses, a casino, a marina and countless leisure areas. It is 30 minutes away from Lisbon and its international airport.

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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.