New Build 4 bedroom Villa for sale in Ferragudo, Algarve
This spacious 220m2 villa is spread over three floors and features modern architecture comforts.
On the first floor, upon entering the villa, there is a large open-plan living and dining area, connecting with a fully equipped kitchen, all providing access to the garden and terrace areas via the large sliding glass doors that fill the property with natural light.
Also located on this floor, is a fourth bedroom or an office space, with a service bathroom.
The second floor is entirely dedicated to the three spacious bedrooms, all with private balcony, wal...
This spacious 220m2 villa is spread over three floors and features modern architecture comforts.
On the first floor, upon entering the villa, there is a large open-plan living and dining area, connecting with a fully equipped kitchen, all providing access to the garden and terrace areas via the large sliding glass doors that fill the property with natural light.
Also located on this floor, is a fourth bedroom or an office space, with a service bathroom.
The second floor is entirely dedicated to the three spacious bedrooms, all with private balcony, walk-in wardrobes and en suite bathrooms.
The garage has space for two cars, and there is two additional exterior parking space. The garage connects directly to the first floor and has an automatic electric door.
The exterior of the villa comes with a swimming pool, barbecue area, and a landscaped garden.
Located in a privileged and desirable area just a short distance from the beach and the picturesque village of Ferragudo, and 40 minutes from Faro International Airport with easy access to the highway A22 and the national road N125.
Plot Area: 394 m2 | 4,241 sq ft
Area: 220 m2 | 2,368 sq ft
Deployment Area: 132 m2 | 1,421 sq ft
Building Area: 220 m2 | 2,368 sq ft
Bedrooms: 4
Bathrooms: 4
Garage: 2
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This Villa is located in Ferragudo 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.