Income Producing 7 bedroom Villa for sale with panoramic and sea views in Monchique, Algarve
Set in 7 acres of land with swimming pool, a great deal of thought and effort has gone in to create a well constructed home to suit the needs of a modern family with room for family and friends in the second house.
Alternatively, it could be a small business with the opportunity to rent out the large or small house for the summer months.
Undoubtedly, it would appeal to those wishing to host small groups for special interest holidays in this increasingly popular area.
There are fantastic hiking trails in the area including "Dev...
Set in 7 acres of land with swimming pool, a great deal of thought and effort has gone in to create a well constructed home to suit the needs of a modern family with room for family and friends in the second house.
Alternatively, it could be a small business with the opportunity to rent out the large or small house for the summer months.
Undoubtedly, it would appeal to those wishing to host small groups for special interest holidays in this increasingly popular area.
There are fantastic hiking trails in the area including "Devils Gorge" Barranco do Demo with it's newly erected suspension bridge which provides excellent views of the surrounding countryside of the upper Algarve.
The large house consists of 5 bedrooms with 4 of them en suite, and one currently being used as an office.
Three of the bedrooms are on the upper level all with superb views.
One of the bedrooms on the ground floor has a bathroom suite made as a wet room with wide door access for wheelchairs and anyone who might have mobility issues.
The well equipped kitchen is bright and spacious and "Blue Pearl" granite has been used for the worktops and island feature.
There is a utility room off the kitchen with a door leading to the wrap around terrace.
The double aspect living room is very comfortable with a twin sided log fire, an attractive feature providing warmth for cooler evenings.
There is a charming mezzanine above the formal dining area which makes great use of the double height space and could make a super office if the the current office needs to revert to a bedroom.
There are sets of full length doors on two sides that lead to the generous terrace, one side has a large porch that can be closed in and is an ideal place to store the wood for the fire.
The smaller property is actually quite large, certainly more than a cottage.
It has a large bedroom on the ground floor with a full bathroom across the entrance hall.
A cosy living room with log fire, a dining area and a lovely dark wood kitchen and granite worktops.
On the upper level is another bedroom suite with shower room and huge terrace with views north to the Alentejo hills in the distance.
In the summer, you can see the sun set and dip into the ocean on the west coast.
The property benefits from central heating throughout; solar power from panels on both houses; independent water sources from licenced mines with excellent drinking quality; a bore hole; electric entrance gate; 2 charging stations for electric vehicles; Starlink internet; air-conditioning; cobblestone driveway and footpaths.
There are an abundance of fruit trees and wonderful plants. Camelias grow here and only in this area. There are Orange trees, Lemon, Fig; Olive, Cork Oak, Plums, Quince, Medronho, and Avocados.
This wonderful property is located in a very special area 25 minutes from the stunning beaches of the South coast and 30 minutes to the spectacular West coast famed for its surfing.
Faro international airport is approximately 1 hour away.
Perfect for a life of rural charm.
Alarm
Air conditioning
Central heating
Garage
Fireplace
Swimming pool
Energy Certificate: A.
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This Villa is located in Monchique 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.