Luxury 4 bedroom Villa for sale in Lagos, Algarve

1,600,000 EUR 1,376,000 GBP 1,728,000 USD

Reference: 224318

Bedrooms: 4
Bathrooms: 3
Floor Size: 300 m2
Plot Size: 1.58 hectares / 3.89 acres

Features

Balcony
Terrace
Air Conditioning
Fireplace
Potential for Income
Private
Lock Up and Leave
Parking
Good Condition

Details

Set in an idyllic and private location enjoying stunning countryside and lake views is this beautifully luxurious 4 bedroom villa with pool, nestling in nearly 4 acres of glorious landscaped gardens.

This rural retreat is located just 15 minutes from Lagos and approximately 20 minutes from the west coast beaches popular with water sports enthusiasts and nature lovers alike.

The property has easy access just off a scenic country road and has electric remote access entrance gates and the land is fully fenced and offers total privacy for those wishing to live in unspoilt rural environment, but not in isolation.

The main house, built in 2007 is surprisingly luxurious in a homely way and comprises of 3 en-suite bedrooms and an office that can also be used as an occasional or 4th bedroom. The master bedroom is on the upper level and occupies the whole floor with private terrace, walk in wardrobe, and bathroom.

The ground floor has been designed with open plan living in mind, and comprises of the living room with fireplace, generous dining area and well-equipped kitchen with utility room.

Large patio doors give access to the covered terrace with an Oasis style swimming pool nestled among tropical trees, plants and shrubs all run off automated irrigation.

A second property is currently under construction and destined to be a truly spectacular example of modern architecture for contemporary living.

It will have 3 en-suite bedrooms on the ground floor and the upper level will be the main daytime living area that will feature floor to ceiling glass walls optimising the wonderful views of the lake and surrounding countryside.

The property also benefits from natural building materials, central heating, double glazed windows with high quality sustainably sourced timber surrounds, super-fast Internet via satellite, external storage, and modern equipment for the delivery of water and power, as well as a Helicopter landing pad.

This is a truly impressive property in a fantastic location and on completion of the second property will be absolutely stunning.

Ideal as a luxurious country home, lock up and leave holiday home, or alternatively it has potential as a rural retreat business.

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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.