Renovated 2 bedroom Apartment for sale in Lagos, Algarve
Access to the 75m2 property is via a short flight of stairs and the interior benefits from natural light streaming in from the numerous windows facing east and west, accompanied by the Algarve sun throughout the day.
The white kitchen includes a breakfast island, Silestone countertops with ample space for meal preparation, several storage areas, and all appliances are built-in.
This two-bedroom apartment for sale in Lagos features a fully equipped kitchen with an oven microwave, extractor hood, washing machine, dishwasher, electric water heater, and comb...
Access to the 75m2 property is via a short flight of stairs and the interior benefits from natural light streaming in from the numerous windows facing east and west, accompanied by the Algarve sun throughout the day.
The white kitchen includes a breakfast island, Silestone countertops with ample space for meal preparation, several storage areas, and all appliances are built-in.
This two-bedroom apartment for sale in Lagos features a fully equipped kitchen with an oven microwave, extractor hood, washing machine, dishwasher, electric water heater, and combined fridge.
The spacious living room is illuminated by recessed ceiling lights and natural light streaming in from the door leading to the balcony, overlooking a wooded area. The living room of this two-bedroom apartment offers a setup ready for the television, concealing the wires.
Next to the living room is the master bedroom with an en suite bathroom. This room comes partially furnished, with two individual wardrobes. Each wardrobe features two built-in bedside tables, with two USB connections. Access to the en suite bathroom is through a sliding door. This bathroom features a rainforest shower, an anti-fog smart mirror, a towel heater, and recessed ceiling spotlights.
The second bedroom features a spacious wardrobe with sliding doors. From the window of this room, you can see a small terrace belonging to the building. Lastly, the guest bathroom is adjacent to the second bedroom.
Recently, the owners renovated this apartment, considering several details that set it apart. The aim was to preserve the identity of this building by keeping the wooden window shutters and balcony but adding the comfort of double-glazed windows and tilt-and-turn windows. All rooms have air conditioning, electric blinds, and are furnished with durable, high-quality materials.
This peaceful area has various amenities, such as a supermarket, restaurants, and cafes. Within a short walk are Dona Ana Beach and Camilo Beach.
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This Apartment is located in Lagos 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.