4 bedroom Villa for sale with panoramic view with Income Potential in Vale de Lobos, Sintra, Central Portugal

1,350,000 EUR 1,161,000 GBP 1,458,000 USD

Reference: 245363

Bedrooms: 4
Bathrooms: 3
Floor Size: 353 m2
Plot Size: 0.35 hectares / 0.86 acres

Features

Garden
Private Pool
Golf Resort or Nearby
Possible Extra Dwellings
Panoramic View
Traditional Style
Good Condition
May Require Improvement

Details

Spacious and impressive villa set in almost an acre of land with swimming pool in Belas, Vale de Lobos.

This intriguing 352m2 property comes with huge potential for further development. Set in a 3,476m2 plot, the main mansion has a 529m2m total area with a 352m2 private gross area.
The Villa comprises a large dimensioned swimming pool, and the main house, with 3 floors, has several bedrooms and several living rooms.
The property also has a considerable set of annexes with an additional 100m2, which may work as complementary housing to the main house.

Despite the good overall condition, there is a project for total remodelling with a new use of the areas of the house. The project proposes a version for the mansion with seven bedrooms and two ample living rooms and also joining 3 other bedrooms in the attached house.
There is also a landscaping re-modelling plan in this project, with an elegant deck area around the swimming pool and connecting the social areas on the same floor.

Vale de Lobos is a quiet and charming location, next to the Belas Clube de Campo, with excellent golfing facilities.
Easy access to Lisbon.

A property with a great potential.

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Portugal Property Buying Guide

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.