Income Producing 5 bedroom Villa for sale with sea view in Santa Margalida, Mallorca
This excellent property has the makings of a perfect Mediterranean villa, and it comes with a holiday rental license. The location and potential of the property make it a very interesting investment opportunity as well as an excellent family home.
There is a welcoming stone facade, set in Mediterranean surroundings. Built in 1990, the house features two entrances and comprises two floors and a basement, offering 388m2 of living space on a manageable 330m2 plot.
It includes five bedrooms, three bathrooms, living and dining rooms, plus a sp...
This excellent property has the makings of a perfect Mediterranean villa, and it comes with a holiday rental license. The location and potential of the property make it a very interesting investment opportunity as well as an excellent family home.
There is a welcoming stone facade, set in Mediterranean surroundings. Built in 1990, the house features two entrances and comprises two floors and a basement, offering 388m2 of living space on a manageable 330m2 plot.
It includes five bedrooms, three bathrooms, living and dining rooms, plus a spacious kitchen.
Currently, the front of the house is separated from the back, converted into a charming apartment with sea views and its own kitchen. It would, though be straightforward to reopen it into a single house.
At street level, there is a garage and space for a fitness room and spa or for commercial use as the property also has a commercial licence.
Further development options are available on the second floor.
Outside, the 100m2 garden provides ample space for fun and games as well as relaxation, with the possibility to add a pool.
With its proximity to the beach, generous living space, and business potential, this villa in Son Serra de Marina presents a fantastic opportunity to make a wise investment and own a great property.
The town of Santa Margalida occupies a central location to the North of Mallorca tucked in slightly inland off the bay of Alcudia.
The town dates back to the re-conquest of the island at a time when it was retaken from Islamic control. However, the very earliest indicators of old inscriptions and tombstones suggest that settlements existed here during roman times. Santa Margalida offers the visitor a wide range of amenities and attractions, all within easy reach. Set amongst the towns large central square are numerous tapas bars and shops and provide a tempting way to spend a lazy day.
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This Villa is located in Santa Margalida in Balearic Islands
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Buying a Property in the Balearic Islands
1. Putting down a Holding Deposit
On finding a property you wish to purchase you will need to negotiate the terms, price and conditions of the sale with the owner. This part of the process is not binding. We would recommend using an independent English speaking legal advisor. Once a purchase price has been agreed, normally a holding or reserve deposit will be required to ensure the property is removed from the market. The sum required will vary between properties and will be based on the purchase price. A time limit for the preagreement to be signed will be arranged and there will also be legal checks to be made.
2. Setting up a Pre-agreement (Contrato privado de compraventa)
The pre-agreement will set out the conditions under which the Buyer and Seller agree to complete the purchase of the property and the price they have agreed upon. Relevant details will generally be included for example the property details, purchase price and the date for completion. A deposit will be required at this point, this will vary, but will generally be 10% of the agreed price. This agreement will include a penal clause if the sale does not go through. If the seller pulls out of the sale your compensation will be double the deposit you have paid, but if you decide not to go through with the sale then your deposit will be lost. Certain checks will need to be made before signing the contract, checks should be made against the title of the property, mortgage status and if the property has any debts held against it. The planning status should also be looked into. These conditions can be varied by the seller and the buyer and other types of agreement can be made.
3. The Contract (Escritura de compraventa)
Before a non-Spanish purchaser can buy a Spanish property they will need to have set up a Spanish bank account and obtained a Spanish tax number (NIE). The completion will take place in the presence of a Notary Public. This is a Spanish public official, by law the deed of sale must be witnessed by a Notary Public. You will also need your own independent, expert legal advisor to act on your behalf. On Completion the buyer must pay the balance, that is the price agreed after the deposit has been deducted, plus any other fees on the completion date. Both buyer and seller must sign the Escritura de compraventa contract, (this is the Spanish equivalent of the title deeds). The title deeds (escritura) will be given to the buyer, this will be done in the presence of a Notary Public, they will certify that the transfer has taken place. The tax office will be sent a copy and the property registry will be informed of the transfer.