Luxury 5 bedroom Villa for sale with panoramic and sea views in Luz, Algarve
This fabulous property has been refurbished and is in excellent condition, situated very close to the heart of Lagos, in the Algarve. With excellent materials, it seeks to provide a harmony between luxury, comfort and privacy.
Equipped with underfloor heating, air conditioning, solar panels for water heating, photovoltaic panels for energy production, electric shutters and gates, alarm system, built-in sound system throughout the house, and electric fireplace in every room, it makes the vi...
This fabulous property has been refurbished and is in excellent condition, situated very close to the heart of Lagos, in the Algarve. With excellent materials, it seeks to provide a harmony between luxury, comfort and privacy.
Equipped with underfloor heating, air conditioning, solar panels for water heating, photovoltaic panels for energy production, electric shutters and gates, alarm system, built-in sound system throughout the house, and electric fireplace in every room, it makes the villa a haven for enjoying privacy, but also for receiving visitors.
The spacious interior begins with a large entrance hall, with high ceilings, illuminating the house with natural light, followed by the open-plan living room and dining area that communicates harmoniously with the fully equipped kitchen. This living area has access to the outside via the fantastic south-facing terrace, with views of the sea and the city of Lagos.
On the upper floor are three very spacious bedrooms, all with en-suite bathrooms and built-in wardrobes. The master suite has a larger space with access to an extraordinary balcony.
The lower floor, with generous areas, consists of the garage for three cars, with two extra bedrooms with direct access to the garden and pool. There is also an additional room, which can be used as a gym, games room or cinema, for example, a sauna, and a Jacuzzi with access to the pool terrace.
The 10 x 5m infinity pool is heated by solar panels, treated with salt and equipped with an electric cover, and has a small waterfall that flows into a second, shallower pool.
The exterior of the villa also includes a mature garden, which surrounds the property. Fully fenced, with high hedges and two tall electric gates, the property guarantees maximum privacy and security.
An extraordinary property, in an excellent location, as it has easy access to several beaches, golf courses, and the city centre is 10 minutes away.
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This Villa is located in Luz in Portugal
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Buying a Property in Portugal
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.