Algarve Golden Triangle Property For Sale
The Golden Triangle of Portugal's sun-drenched Algarve coast comprises some of the best golf and leisure resorts in Europe: Vale do Lobo, Vilamoura, Quinta do Lago, Vale do Garrao and Vila Sol.
Guide to the Portugese Buying Process
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.
IMPORTANT - Disclaimer :
All information provided is believed to be current and provided free of charge. No liability can be accepted for the reliability of the information and statements made as this is obtained from 3rd parties. We always recommend you take legal advice from a fully qualified Lawyer or Notary before buying a property overseas.
Grand, spacious and simply stunning 6 bedroom villa, which is ideally located within a quiet mature landscaped garden of 5,000m2 with an inviting swimming pool, situated on the outskirts of Vale do Lo...
- Floor Size: 1,218 square metres
- Plot Size: 5,000 square metres (0.50 hectares / 1.24 acres)
- Bedrooms: 6
This semi-detached home in the heart of the golden triangle, between Vale do lobo and Quinta do Lago has been totally refurbished and comes with 3 bedrooms, 4 bathrooms and spacious open plan living a...
- Bedrooms: 3
Charming, spacious and beautifully presented 5 bedroom villa, set within a lush landscaped gardens of 3,958m2 with a swimming pool. Beautifully recently renovated and built in a typical local A...
- Plot Size: 3,958 square metres (0.40 hectares / 0.98 acres)
- Bedrooms: 5
Located in the exclusive Vale dos Pinheiros development, this superb villa comes with its own private lawned garden. The property comes with elegant modern furnishings, and provides excellent r...
- Bedrooms: 2
Spacious and beautifully appointed 3 bedroom duplex apartment with the added advantage of having a plunge pool, situated within a short walk to 2 of the most preferred beaches in the area and a good s...
- Bedrooms: 3
This stunning, classical style Algarve residence, in Quinta do Lago, stands on a plot of 2,400m2 with magnificent entry steps and beautiful country views. Quinta do Lago is renowned for its lu...
- Floor Size: 850 square metres
- Plot Size: 2,400 square metres (0.24 hectares / 0.59 acres)
- Bedrooms: 6
This beautifully designed terraced house is situated in the lovely town of Quarteira where there is easy access to all local amenities such as supermarkets, restaurants, bars, schools and the beach. <...
- Floor Size: 136 square metres
- Plot Size: 181 square metres (0.02 hectares / 0.04 acres)
- Bedrooms: 3
This is a very elegant villa in Quinta do Lago which comes with a golf title attached to it for the use of the new owners. The property stands in a garden of 2,200m2 with mature trees and a won...
- Floor Size: 695 square metres
- Plot Size: 2,200 square metres (0.22 hectares / 0.54 acres)
- Bedrooms: 5
This beautiful and well presented villa in Quinta do Lago, stands in an elegant garden with fabulous swimming pool. This family home has been immaculately maintained over the years and comes wi...
- Floor Size: 340 square metres
- Plot Size: 2,690 square metres (0.27 hectares / 0.66 acres)
- Bedrooms: 7
A bright and welcoming 4 bedroom villa built about 15 years ago in a modern architectural style with a Mediterranean feel in a peaceful area of Quinta do Lago, near to the nature reserve and San Lore...
- Floor Size: 426 square metres
- Plot Size: 1,550 square metres (0.16 hectares / 0.38 acres)
- Bedrooms: 4