Bright 4 bedroom Villa for sale in Praia da Luz, Algarve

790,000 EUR 679,400 GBP 853,200 USD

Reference: 243408

Bedrooms: 4
Bathrooms: 3
Floor Size: 240 m2
Plot Size: 1,000 m2

Features

Balcony
Terrace
Garden
Private Pool
Pool View
Parking
Garage
Good Condition

Details

Very well presented, bright and spacious 4 bedroom villa with pool and garden, ideally located near all amenities in Praia da Luz.

The ground floor consists of an entrance hallway leading to an open-plan living and dining area. Large patio doors give access to the private and sunny pool terrace with poolside bar, an excellent entertaining area. Alongside the dining area, there is a spacious fully equipped kitchen as well as a separate laundry room.

Two generous double bedrooms complete the accommodation on the ground floor, one with an en-suite bathroom, complemented by a separate guest bathroom.

Stairs give access to the first floor with two large bedrooms, one of which is currently used as an office, and a large bathroom. The master bedroom benefits from built-in wardrobes and a terrace with views of the surrounding area that has stairs leading to the garden area and swimming pool area.

The property stands on a plot of 1,000m2. There is a cobbled driveway that leads to a garage and carport for 2 cars, it has good outside storage options and it is fully enclosed for pets. The mature established gardens are set up to be low-maintenance, the pool enjoys plenty of sun exposure, and there are shaded terraces ideal for Al Fresco dining.

This lovely home situated just outside of Praia da Luz benefits from being in the desirable neighbourhood of Montinhos da Luz. Properties were built here to offer larger family homes on more generous plots, but being close to all amenities and with easy access to the beaches of Luz and Burgau.

Lagos, the popular and historic walled town, that is packed with restaurants, bars and cafes is just 10 minutes by car and the award winning Marina with boat trips and water sports and plenty of vibrant nightlife. The wilder west coast is around 25 minutes away and several of the regions top golf courses are nearby. Faro International airport is less than an hour and served by motorway only a few kilometres from Praia da Luz.

This is an opportunity to acquire a property of distinction that would be perfect as a family home or, a holiday home with great rental potential.

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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.