4 bedroom Villa for sale with countryside view and sea view with Income Potential in Santa Barbara de Nexe, Algarve
On the south side, there is a 1 bedroom en suite villa with a living-dining-kitchen open area, guest WC, terraces to the Ocean, terrace to the outside kitchen and terrace to the West side. All is perfectly finished and maintained.
The kitchen has an island, and in the living room, there is a wood fireplace.
Linked to this house, is another 3 bedroom en suite villa with the same finishing and specifications.
On the first floor are 2 bedrooms en suite with a terrace and on the ground floor,...
On the south side, there is a 1 bedroom en suite villa with a living-dining-kitchen open area, guest WC, terraces to the Ocean, terrace to the outside kitchen and terrace to the West side. All is perfectly finished and maintained.
The kitchen has an island, and in the living room, there is a wood fireplace.
Linked to this house, is another 3 bedroom en suite villa with the same finishing and specifications.
On the first floor are 2 bedrooms en suite with a terrace and on the ground floor, one bedroom en suite with a living and dining room, a utility room and a garage.
There is a swimming pool of 6.25 x 3.5m with a manual cover and a pool house.
There is the possibility to connect to a heat pump. To have some shade during the warm summers, there are 3 electric blinds on the south and east terraces.
The 2 houses are linked by a metal footbridge and by this footbridge you have access to the roof terrace of the south house where there are fabulous sea views. From the living room installed on the roof terrace, there are views of Ohlao, Vilamoura, and Quinta Do Lago.
There is also an attic as storage.
Between the 2 houses, there is a nice terrace and a synthetic lawn.
There is air conditioning throughout and solar panels for hot water. It is also important to mention that the 2 houses are on a crawlspace in order to avoid the humidity coming from the soil. The property is A+.
The property is connected to the mains water and the mains sewage. Simply perfect.
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This Villa is located in Santa Barbara de Nexe 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.