Loule, Algarve, Portugal
3 - 7 Bed | 3 - 7 Bath
From EUR 2,550,000
Key Details
Loule, Algarve, Portugal
Regional info
The Algarve is Portugal’s southernmost region and the country’s premier holiday destination with a year-round balmy climate. It is known for its beautiful golden beaches, breath taking cliffs, golf resorts and numerous other attractions. Whitewashed fishing villages on low cliffs overlooking sandy coves were transformed in the 1960s. The eastern Algarve is bordered by Spain and is stunningly beautiful. The central coast between Lagos and Faro is renowned for its wonderful villas, hotels, bars and restaurants. The region's western Atlantic coast and rugged interior are less developed and equally enchanting.
Payment Terms
The standard payment terms for the Viceroy Residences at Ombria Resort is as follows, however this may be altered to suit each individual buyer:
Alcedo Villas:
Purchase Process:
Once you have selected the property that you wish to buy, you should seek advice from an accountant or financial advisor, and you should select a lawyer to help you with the contracts and legal paperwork. There are several different ownership options available, e.g. buying in the buyer’s own name or in the name of a company. Each option will have different legal and tax implications; therefore, it is important to consider each option and get legal and tax advice on them. The procedures and legal acts involved in acquiring a property in Portugal are as follows:
Property Reservation: a Reservation Form is signed between the buyer and the seller, or their legal representatives, as a receipt for a down payment, usually refundable (the value of which may vary depending on the acquisition value of the property)
Fiscal/tax number: the buyer must obtain a fiscal number (Numero de Contribuinte) at any tax office (Finanças) in order to open a bank account in Portugal
Promissory Contract: the promissory contract (CPCV – Contrato de Promessa de Compra e Venda) is signed between the buyer and seller, on which all contractual terms are stated, including the payment terms. Usually, the payment of an agreed to percentage of the acquisition value is due at this stage. Depending on what’s agreed, there can be several stage payments.
Public Deed: once the property is finished and all legal documents are in place, legal ownership is transferred by signing the Deed (Escritura) in an official Notary’s Office or another entity.
Final Registry: after the Deed, the Notary will register the new owner of the property at the Estate Registry (Conservatória do Registo Predial) and at the Tax authority (Autoridade Tributária).
Services & Benefits: Owners benefit from a comprehensive range of support services. Resort management: Structures and communal areas repair and maintenance: roads, gardening, landscape. Indoor and outdoor common areas: lighting, heating, cleaning, waste disposal, 24h security system including cctv.
Property management: House maintenance, pool and garden maintenance, housekeeping. Concierge: Organising excursions, sports and activities, private parties, shuttle service to beach, airport transfers, childcare, room service.
Rental programme: Sales, marketing and management of properties within the rental pool.
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