4 bedroom village House for sale with countryside view with Income Potential in Mexilhoeira Grande, Algarve
This quaint property was built pre-1951 and has been maintained and updated over the years.
The house offers a cosy living room perfect for gatherings or quiet nights in. There are beautiful countryside views from the garden just off the living room, providing a peaceful retreat for outdoor living.
With air conditioning, double glazing, and an equipped kitchen, this property combines historic charm with amenities.
A private and very spacious first floor terrace overlooks a small village square, and ...
This quaint property was built pre-1951 and has been maintained and updated over the years.
The house offers a cosy living room perfect for gatherings or quiet nights in. There are beautiful countryside views from the garden just off the living room, providing a peaceful retreat for outdoor living.
With air conditioning, double glazing, and an equipped kitchen, this property combines historic charm with amenities.
A private and very spacious first floor terrace overlooks a small village square, and faces south west for lovely sunset views over the village. There are several cafe's & restaurants, as well as shops and small supermarkets, plus the local vegetable market.
This small community has so much to offer at your doorstep, and is also very well positioned between the towns of Lagos & Portimao.
Excellent walking is nearby at the Alvor estuary with its' amazing birdlife.
The property provides flexible accommodation, having been divided into 2 parts, with 2 separate entrances:
- 2+1 bedrooms with kitchen, living room, 2 shower rooms, terrace & small garden
- 1-bedroom annex with kitchenette living room & shower room.
Offering excellent rental opportunities, both units can be rented out, or alternatively owners can easily live in one while renting out the other.
This unique property is a rare find, offering a glimpse into the past while providing the comforts of contemporary living. conditioning
Energy Certificate: D.
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This Villa is located in Mexilhoeira Grande 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.