BUYING A VILLA FOR THE FIRST TIME

[Guest]

WE'VE BEEN HOLIDAYING IN CARVOEIRO FOR MANY YEARS ,ALWAYS IN A VILLA.WE ARE NOW LOOKING TO BUY A VILLA IN CARVOEIRO TO USE OURSELFS AND ALSO RENT OUT.CAN ANYONE GIVE ME SOME HELPFULL INFORMATION ON WHERE TO START.

[e-richard]

Wow, thats a big question, and I'm sure there's no simple 1 liner to answer it all, but here are some personal observations to kick start - I'm sure there's loads more....

1. Be prepared to spend most of your next holiday out there house hunting. You'll want to visit a number of villas to get a feel for what you like and what is available for your budget.

2. Do call in to a number of different estate agents. They will have a variety of properties and most importantly you'll find them a very valuable source of information and assistance for you (much more than I).

3. You'll probably need a Portugese Lawyer, and one you feel comfortable with. Try your local lawyer to see if they have a relationship, but otherwise the estate agents will help you here. Ensure that you do interview the lawyer and feel comfortable. You'll probably give him power of attorney to buy for you. We did this and it all worked out fine. They do charge a lot though !

4. Check all the ancilliary costs (purchase tax is high if its not offshore owned) and other little costs creep up all the time.


And finally,

5. Don't be afraid. Lots of us have been there before you and all done the same thing. Its pretty easy really, and well worth the short term traumas.

Have fun

[Villa Owner]

I would certainly take the time if possible to visit as soon as possible and not wait until the season gets underway - the agents tend not to take high season viewers that seriously, and what is more the villas are usually occupied so viewing is very difficult.

Don't go with the agents recommended lawyer!!! I have heard several horror stories that have ended in tears and a bill with no villa to show for it. If they are tied they tend to work to their own agenda and at their own pace. Ask the UK lending banks to recommend one - if you require a mortgage the bank will employ their own and you should use this one aswell. The cost will be cheaper and you know that they are working for YOU!!

Offshore ownership is still a good option but had become a little more expensive in the short term. You will certainly need to take advice from an expert accountant. There is a good one up in Lagoa near the Prosecom security shop.

Prices are still on the increase but are predicted to level out towards the end of this year.

Happy hunting and good luck

[Guest]

always use a lawyer..also join AFPOP for their fact sheets and remenber what someset maughn said about monaco but we can also to some extent apply it here...its a sunny place for shady people

[Gordon and Sandy Low]

I would agree with all the advice given so far. In addition I would recommend having a good idea of what you are looking for, i.e. minimum number of bedrooms, plot area to give you a decent sized garden, swimming pool?, distance from shops/restaurants etc. You will view many properties that don't fit the bill but try not to compromise too much. We looked at plenty of places and almost gave up hope but eventually we found a villa that filled all our criteria.

With regards to a lawyer I can recommend Doctora Rosemary Alves of J. Placido Santos (jpslaw@clix.pt). She did an excellent job for us and was extremely helpful with other legal advice. Don't forget you will need to insure the place once you have bought it! Ilka Fenner of Lloyd and Whyte (lloydandwhyte@ip.pt) arranged this for us very quickly. The estate agent will depend on which property you choose, however we bought through Vernon - their Irish agent Brian Comerford was a helpful, straight talker.

When you eventually let your place you will need a letting/management agent. We inherited our agent (Francisco Pires of Carvosol) from the previous owner, but he was also recommended independently. In the time we have owned the property (just over a year) he has proved excellent.

Hope this all helps good luck!

[Mike,Chislehurst]

We also purchased via Vernons and Brian Commerford Tel 282 357109. Very good indeed. By coincedence, we also use Carvosol Villas as management agents and found them to be first class. Francisco is the one to talk to but he is known throughout Carvoeiro as Chico. They are based on ADM. Tel 282 358894

[Mike,Chislehurst]

Forgot to say the web for Vernons is www.vernon-algarve.com

[Tom Gibson]

We bought on Rocha Brava in 2001 through Perola de Portimao who have an office in the town in the commercial centre behind Mungo's bar. This is a family business run by Paul Raymond-Paul together with his wife and daughter. We found them to be first class. email: paulrp@clix.pt

[wizzo]

Re lawyer Santos: Avoid Dr Santos himself, he nearly lost me my Villa through his inactivity, Iasked to be switched to another lawyer.
Completed through Dr Cabrita at the same firm who is very good, I still use him.

Re Agents: Agree about Brian C a Vernons, very helpfull. Mike Clarke and Pam at Carletons also very good . The ladies at Sillis(?) were a waste of time.