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How To
Invest in Off Plan opportunities in the Algarve - Portugal |
Casas do Barlavento represents an opportunity to purchase Off Plan real estate sales from across the Algarve in Portugal. For a nominal reservation deposit and very little down you can invest in resort property. Historically this investment strategy produces a great return on investment. |
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What is "Off
Plan"? |
| Condominium developers offer individual units for sale to the public with the goal of pre-selling a large percentage so the bank will finance the entire project. These units are made available through real estate agents and developers. Buyers of Off Plan property basically reserve a first right of refusal on a specific unit in a development by looking at drawings and descriptions of the project. This industry standard four step process is clearly defined and state regulated providing protection to the individual investor. |
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1. Reservation Period |
| When, for example, a Resort Condominium property is made available for purchase the developer provides floor plans and artist impressions with a brief description of the overall project. This initial offering is presented to clients and contacts of real estate agents. This is why it's important to sign up for our insider email list. At the reservation agreement stage interested individuals complete the necessary paper work accompanied by a refundable deposit, usually a nominal € 5,500 to € 10,000. The deposit is held in escrow and is fully refundable for a period of 15 days should you decide to cancel your reservation. The Reservation Period lasts until the building license is issued, when a promissory contract will be entered into. At the point of making the initial reservation payment the builders payment terms will be clearly stated. |
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2. Promissory Contract |
| Once the builder receives his building license and starts construction, a legally binding promissory contract will be issued. You will be given a period of time to enter into this contract and pay the fee that was stipulated in the reservation agreement. Usually the reservation amount is deducted from the amount now due. |
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3. Stage Payments |
Each builder will have his own individual payment schedule, which have been clearly stated initially and must be kept. Failure to meet payment will result in a breach of contract and may lead to cancellation of the contract and loss of any monies paid. |
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4. Final deed |
| Once the construction is finished it will take about another 2 months for the habitation license to be given. Once this is given the final payment will be due and the “escritura” (deeds) signed. |
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Summary |
Where else can you go and tie up a € 500,000 piece of Algarve Real Estate, for example, for only € 100,000 over a 2 year period? Not to mention that during that time there are no other out-of-pocket expenses ... , no property taxes, no maintenance expenses, no loan or interest expenses unless you have a mortgage running along side the purchase and little to no risk. It's clear why we are personally participating in the investment of Off Plan sales in the Algarve Portugal, and why we have had so many individuals coming to us to do the same.
Get insider updates via email for information about current and up coming opportunities. |
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