Vilamoura Property For Sale
Vilamoura property for sale can be found within a luxurious, purpose built resort at the heart of the sunny Algarve. Just 15 miles from Faro’s international airport, and with excellent road and rail links, Vilamoura property for sale is as well known for its ease of access for second home owners as it is for its fabulous golf courses and glorious beaches.
Vilamoura is one of Europe’s largest beach resorts with an area of 20km2, packed with luxurious facilities and a wide choice of Vilamoura property for sale. At the heart of the resort is the modern marina, which has over 1,000 berths for a variety of vessels. The waterside is architecturally beautiful and houses the some of the best restaurants and waterfront bars. The nearby casino has been designed with this luxury and elegance in mind, and is popular both for its casino games and its evening entertainment.
The idea of a purpose built and self contained luxury resort complex was first conceived in 1974 by a wealthy Lisbon banker. Its modern success is down to the original vision of luxury and opulence coupled with outstanding facilities and the beautiful sun-drenched climate of the Algarve, but, above all, the greatest success of Vilamoura is its community feel, with a great number of the Vilamoura property for sale being privately owned.
The wide variety of landscapes and facilities within the resort ensure that there is a Vilamoura property for sale to suit every taste. The vast sun-drenched beach which makes up the southern border of the resort is a popular choice for those seeking Vilamoura property for sale with a sea view. For those that wish to be part of the Vilamoura community, but prefer a more peaceful location, the resort is surrounded by some surprisingly beautiful countryside. Vilamoura property for sale can be found near the lush pine forests, the marshlands that teem with wildlife, or the open countryside so typical of the area. Often those buying Vilamoura property for sale are keen golfers, due to the resort’s six excellent and world-renowned golf courses. Each course has its own distinct character and challenges, and it is possible to buy Vilamoura property for sale bordering one of these courses, with views across the greens and fairways, showing the true craftsmanship of their construction, and the seamless blending into the natural environment.
The Victoria course was designed to be one of the best in Europe, and is set over 90 hecteres of flat terrain, with carefully sculpted mounds that resemble hills on the horizon, and a number of lakes and waterfalls. The ‘Old Course’, the second oldest in the Algarve, is set in a pine wood and takes full advantage of the natural contours of the land. This course provides an unmissable experience, with club selection being an important factor over the second half of this 18 hole course. The Millenium course consists of 18 holes wandering through parkland dotted with trees, while, in contrast, the Laguna course consists of numerous lakes, but few trees, and has been extensively improved and modified since its opening in 1990. The challenging Vila Sol course is set on undulating natural terrain with 27 holes and a tricky green, while the 18 hole Pinhal course is set back from the tourist beach and meanders gracefully through pine forests, demanding great accuracy and club choice.
Aside from the golf courses, Vilamoura property for sale offers the opportunity to enjoy a vast range of activities. The resort boasts both indoor and outdoor sporting activities, ranging from tennis to jet-skiing, and the natural beauty of the area can be enjoyed not just outside the confines of the resort, but also inside, thanks to the dedicated care of the natural and unspoiled landscapes. The wide ranging facilities ensure that everything is provided within the resort, including shops, designer boutiques, a medical centre and a whole host of evening entertainments. Whatever the location of the Vilamoura property for sale, this purpose build resort aims to provide everything desired or required; all within easy access.
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.
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