Modern 2 bedroom Apartment for sale in Praia da Luz, Algarve
Situated in a prime area of Lagos, there is an array of essential amenities within easy reach. Just a short walk away are a multitude of dining options, from the delicious Italian cuisine of the onsite restaurant to the international flavours to be found nearby.
The village is served by several shops and supermarkets and there is an excellent health centre as well as a pharmacy close to the resort. And for those looking to soak up the beauty of the coast, Praia da Luz beach is just a stone's throw away.
With plenty of transpo...
Situated in a prime area of Lagos, there is an array of essential amenities within easy reach. Just a short walk away are a multitude of dining options, from the delicious Italian cuisine of the onsite restaurant to the international flavours to be found nearby.
The village is served by several shops and supermarkets and there is an excellent health centre as well as a pharmacy close to the resort. And for those looking to soak up the beauty of the coast, Praia da Luz beach is just a stone's throw away.
With plenty of transportation options within a 15 minute walk, this apartment offers unrivalled convenience for exploring the surrounding areas. Praia da Luz is just minutes away from the historic port town of Lagos and all it has to offer, and there are some fantastic coastal walks.
The apartment is fully equipped and ready to go and benefits from air-conditioning; double glazing; under-floor heating for those cooler winter evenings; dedicated basement parking and a large store room.
The resort has a large adult swimming pool along with a children's pool and play area. There are two fantastic tennis courts.
Don't miss out on the opportunity to call this apartment home. Embrace the ease of access to essential services, diverse dining options, and natural beauty that this location has to offer.
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This Apartment is located in Praia da 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.