4 bedroom Villa for sale with sea view with Income Potential in Alcudia, Mallorca

940,000 EUR 808,400 GBP 1,015,200 USD

Reference: 247538

Bedrooms: 4
Bathrooms: 5
Floor Size: 220 m2
Plot Size: 822 m2

Features

Garage
Garden
Parking
Private Pool
Terrace
Quiet Area
Sea View
Golf Resort or Nearby
Build Pool
Potential for Income
Contemporary Style
May Require Improvement
New Build or Off Plan
No Pool

Details

Fantastic opportunity to create a dream home in a highly desirable location with this 4 bedroom detached villa in Alcudia, and is an excellent investment opportunity with sea views and great location close to the sea in the exclusive area of Mal Pas.

The 220m2 property is only a 10 minute drive from the centre of town in a quiet location with good road access.

The villa, which is partially built in accordance with the current plans, foresees a four bedroom, five bathroom property with a garage, a garden with mature olives trees, and the possibility of a swimming pool.
It also benefits from an elevated terrace with amazing views.

This unfinished villa project was originally approved by the town hall 10 years ago but has since expired. Under the moratorium for new constructions in this area, the authorities would accept the renewal of the license once restrictions are lifted, providing the original building plan is heeded.

The sale price includes the plot with the house in its current unfinished state, and the expired building license.

Do not hesitate to contact us for further information about this interesting investment property in the north of Mallorca.

Mal Pas is a quiet unspoiled oasis, with two great sandy beaches. This area has traditionally been the weekend and summer house location for wealthy Mallorquins.
Few properties change hands in the area, but when they are up for sale, they are immediately snapped up, renovated and therefore increase the exclusivity of the village.

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Balearic Islands 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.