Renovated 5 bedroom Villa for sale in Vilamoura, Algarve

1,050,000 EUR 903,000 GBP 1,134,000 USD

Reference: 233610

Bedrooms: 5
Bathrooms: 4
Floor Size: 434 m2
Plot Size: 1,385 m2

Features

Balcony
Air Conditioning
Fireplace
Renewable Energy
Original Features
Quiet Area
Garage
Good Condition

Details

Beautiful traditional-style Portuguese villa, recently renovated and offering spacious and comfortable living.
The property was built in 1950, and has been tastefully and stylishly restored whilst maintaining the original features.
Located in Vale Judeu, between Loule and Vilamoura, and offers the opportunity to live in a secluded, very quiet area with panoramic countryside views.

The 434m2 villa is spread over two floors and comes with 2 en-suite bedrooms on the second floor sharing a balcony with sea views.
The ground floor has a spacious and welcoming entrance hall with fireplace, living room, renovated kitchen, laundry and dining room, 2 bedrooms, guest bathroom, and a spectacular master suite with dressing room and access to the garden.
The Villa is equipped with barbecue, wood oven, double glazed windows, air conditioning, heating, borehole and cistern for irrigation and swimming pool. Solar panel for water heating.
In addition spacious private parking for three cars, the property also has a closed garage and storage areas.

The villa is about 15km from Loule and Vilamoura and 25km from Faro 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.