4 bedroom Villa for sale with countryside view with Income Potential in Santa Barbara de Nexe, Algarve
This superb property is currently configured as an L shape and the 2 parts can be connected so it could easily be used as a 4 bedroom family property with a more modern part of 2 bedrooms and a Quinta style with 2 bedrooms, with the possibility of becoming a 5 bedroom Villa.
The main villa, more recent, is composed of an open-plan kitchen and dining area with a pellet burner. There is also an independent TV room l...
This superb property is currently configured as an L shape and the 2 parts can be connected so it could easily be used as a 4 bedroom family property with a more modern part of 2 bedrooms and a Quinta style with 2 bedrooms, with the possibility of becoming a 5 bedroom Villa.
The main villa, more recent, is composed of an open-plan kitchen and dining area with a pellet burner. There is also an independent TV room leading to an outdoor terrace. After the TV room a night corridor leads to two bedrooms, one en-suite, and a family bathroom, all with underfloor heating.
The Quinta annex has a living and dining room with a modern kitchen and two bedrooms with one bathroom. This Quinta has a private area with an outside kitchen and rest area as well as direct access to the swimming pool. The swimming pool of 7 m x 3.3 m with a waterfall is accessible from the Quinta and from the terrace and the main bedroom of the main villa.
Downstairs is a huge living area with a bar, gym room and utility room. There is also a large workshop with a technical room with controls for solar, irrigation and borehole.
At the South part of the property, there is a wonderful landscaped garden with many beautiful plants and a splendid orchard with several different fruit trees, and a large outdoor entertainment covered terrace with barbecue.
The plot is mainly around the houses but 1,500 m2 is located at the North part of the property, there are very old Carbo's and olive's trees on it. It is accessible by 2 gates, one is electric and one is manual and offers open views of the country side to the South, West and East.
This property is located is an very desirable area called Goldra de Baixa which is near all the amenities, 15 min from the Faro Airport, 10 min from Loule and 8 minutes from the Mar Shopping but in a very peaceful area.
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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.