Villa Marisa Algarve, Portugal | Luxury detached Villa For Sale | Quinta do Lago

Villa Marisa

Quinta do Lago, Algarve, Portugal

5 bed | 5 bath
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P-10467

Key details

  • Approx size: 383 sq m (4,123 sq ft)
  • Building type: Detached villa, Villa, Detached house
  • Approx Price per sq m: EUR 6,514
  • Year built: 2005
  • Approx plot size: 1,910 sq m (20,559 sq ft)
  • Ownership: Freehold
  • No. floors in building: 3
  • Property Style: Modern

Features

  • Balcony
  • Private garden
  • Investment
  • Terrace
  • Air conditioning
  • Garage
  • Fitted bathroom
  • Wooden floors
  • Gazebo
  • Frontline to golf course
  • Outdoor pool
  • Covered parking
  • Parking
  • Golf
  • Hard-wire alarm system
  • Fitted kitchen
  • Stone floors
  • Landscaped garden
  • Barbecue

Property overview

A stunning family and entertainment residence with five en-suite bedrooms set in a gorgeous landscaped plot incorporating a large heated pool, terrace and barbeque area. The impressive foyer introduces this homes lovely interior.
On the ground floor a bright and spacious living room has direct access to the pool and terrace area, while the large formal dining room is adjacent to the fully fitted designer kitchen with TV snug.  Two of the bedrooms are on the ground floor giving access to either lush gardens or the pool and terrace area.
Three further spacious en-suite bedrooms occupy the first floor, each with large balconies overlooking the Quinta do Lago North course.
The large basement offers sufficient space for several cars and could be used to enhance this marvelous property with a games and cinema room.
The proximity to Four Seasons Country club with its in-door and out-door pools and sports facilities make this property into a great prospect for family entertainment.
A golf “Quinta do Lago Golf Club” title may be available.

Buyers guide

 

TRANSACTION COSTS

   

Who Pays?

Property Transfer Tax

6.50%

buyer

Legal fees

1% - 2%

buyer

Registration fees

0.20% - 1.20%

buyer

Stamp Duty

0.80%

buyer

Real estate agent´s fee

3% - 5% (+23% VAT)

seller

Costs paid by buyer

8.50% - 10.50%

Costs paid by seller

3.69% - 6.15%

ROUNDTRIP TRANSACTION COSTS

12.19% - 16.65%

 

There are no restrictions on foreign property ownership.

The process of property purchase in Portugal is quite straightforward. Once a buyer has found a suitable property the next thing to do is to hire the services of a lawyer who will guide and assist the buyer through the process.

A lawyer’s task usually involve drawing up contracts and initiating the process of inspecting the property’s title insuring that no legal snarls will come up after the transfer. A search will be made to check the land registry (Conservatoria de Registo Predial) title at the local municipality and another search at the Inland Revenue (Repartição de Finanças) to ensure the tax registration on the property and that there are no unpaid charges. A fiscal number (Numero de Contribuinte) will be acquired for you through the local tax office as this will be necessary for most transactions in Portugal.

If the buyer is satisfied with the property and decides to buy a promissory contract (Contrato de Promessa de Compra e Venda), details of the conditions of sale and other agreements regarding the transfer will then be drawn. Once this has been signed and notarized, both parties become legally bound to see the transfer through. A deposit 10% to 30% of the purchase price is usually lodged at this stage and the parties will agree with the notary to record a date for the completion of the purchase. The buyer’s next task is to pay the municipal property tax or Imposto Municipal Sobre Transamissões-IMT.

The transaction ends with the execution of the Deed of Purchase and Sale (Escritura Publica de Compra e Venda) which is signed before a notary and officially recorded. At the same time the balance of the purchase price is paid according to the provisions of the Promissory Contract. The property will next be registered in the new owner’s name at the Conservatoria de Registo Predial. After which the transfer is complete.

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