10 bedroom House for sale with Income Potential in Muchamiel, Valencia

750,000 EUR 645,000 GBP 810,000 USD

Reference: 246628

Bedrooms: 10
Bathrooms: 5
Floor Size: 969 m2
Plot Size: 0.29 hectares / 0.71 acres

Features

Terrace
Garden
Fruit Trees
No Pool
Fireplace
Parking
Good Condition
May Require Improvement

Details

Wonderful opportunity to acquire two charming properties surrounded by nearly
3/4 acre of land, located in Muchamiel, on the outskirts of Alicante.

This unique estate comprises of two substantial houses set in an enclosed, flat plot of over 3 times its size. On prime urban land just a 10 minute drive to Alicante city centre, a 15 minute drive to Playa San Juan with its long sandy beach and only 20 minutes drive to the Alicante international airport, this estate benefits from ideal connections to the national road network and motorway.

The first property measures about 600m2 and currently operates as an international school. The second building of about 350m2 is to be renovated and also offers unique character and charm and further potential for development.

The main house comprises of a hallway, 2 generously sized living and dining rooms, one with an open fireplace, a fitted and equipped separate kitchen, study, a bedroom, large patio and terrace and 2 bathrooms, on the ground floor.

An internal staircase leads up to the first floor where there is a hallway, five double bedrooms, one as large as 36m2, a shaped living room with fireplace, study, bathroom and a storage room.

In the annex is a hall, large dining room of 67m2, a kitchen and store.

The second property has 2 halls, 5 double bedrooms, a living room with open fireplace and separate kitchen.

There is a laundry room, bathroom and WC, and a basement.

This is an extensive flat plot with some mature trees and playground areas.

Both houses boast wood-beamed ceilings throughout, rustic style and mosaic flooring and finca and classic Spanish architecture. Ideal for those looking for a large residence with 2 homes or those wishing to continue with or develop a commercial purpose to the estate.

A prime piece of real estate with character and value.

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Spain Property Buying Guide

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.