Refurbished Income Potential , Countryside View 5 bedroom Villa Bagni di Lucca

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

Reference: 242891

Bedrooms: 5
Bathrooms: 5

Features

Multiple Dwellings

Details

Splendid complex located in the municipality of Bagni di Lucca, which consists of a manor house, renovated farmhouse, large annex/garage and a well maintained and well planted completely fenced-in park.

Manor house - 430m2: built in the early 1900s in a classic Art Nouveau style and is in perfect condition. Arranged on several levels, it consists of: tavern in the basement where there is a kitchen, dining/living room with a large fireplace, study, cellar, bathroom and porch.

Ground floor: elegant entrance hall, dining room, built-in kitchen, large living room with a fireplace and 2 generously sized balconies.

First floor: 3 bedrooms with private bathrooms.

Second floor: attic with several rooms that can be used according to the needs of the future buyer.

Stone cottage - 120m2, which has been completely and finely restored:Basement: kitchen, utility room and dining room with a fireplace.

Ground floor: entrance hall, living room, bathroom, utility room and wood-burning oven outside.

First floor: double bedroom and a single bedroom.

Annex - 270m2, which was an old lemon house.
Ground floor: completely renovated and houses the garage with 3 parking spaces, 3 independent entrances and other technical rooms.

Park - 5,000m2: surrounds the building complex has 2 entrances and an automatic irrigation system fed by private spring water, it also houses a concrete tennis court and there is the possibility of building a swimming pool.

This property is a luxurious and elegant residence close to all services a few kilometres from Lucca and the Garfagnana and is just a few kilometres along an easy road to the ski slopes of the Abetone area.

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Italy Property Buying Guide

1. Making the Offer to Purchase (Offerta)

Once you have found the property you wish to purchase you will start the process by making a formal offer to the vendor, the estate agent will act on your behalf and put forward the offer, a deposit will be made available, generally around (10,000 - 20,000 EUR). Once the vendor has accepted the offer it will be formalised in writing to the vendor in both English and Italian. If this is accepted the deposit (Caparra Confirmatoria) will be paid to the vendor. This will form a legally binding contract. Neither party may withdraw at this point, the sale can be forced by either party or a claim for damages can be made. If the purchaser withdraws their deposit will be lost, if the vendor withdraws the purchaser can claim twice the deposit in compensation.

2. Signing the Preliminary Contract (Compromesso or Contratto preliminare)

The next step will take place between 1 and 3 months after the offer has been accepted, this is a formal agreement between the vendor and purchaser to sell and buy the property, this agreement is the Preliminary Contract and will contain the conditions and terms of the sale. It is important at this stage that you have a full understanding of all the details contained in the contract. We would strongly recommend that you appoint a Notary who is fluent in English. This document will include the purchase price, a detailed description of the property including completion date and will cover any obligations placed upon the buyer and the vendor. All information relating to the property including any planning permissions for the property and the cadastral details (a public record, survey, or map of the value, extent, and ownership of land as a basis of taxation). Once the Preliminary Contract (Contratto preliminare) has been signed a further deposit (Caparra Confirmatoria) will be paid, this will generally be 10% - 20% of the purchase price. There will also be an estate agents Commission Fee (Provvigione) which will need to be paid at this point.

3. Signing the Final Deed of Sale (Rogito or Atto Notarile)

The purchaser must have a bank account in order to make the purchase on completion. The signing of the final deed of sale which will authorise the transfer of the property must be overseen by a Notary (Notaio). The buyer will select and hire the Notary, but they are members of an independent body of public/professionals who will draft the purchase deed, they will oversee the passing of the title legally from the vendor to the purchaser. The Notary will also verify the legality of the documentation and registration with the Conservatoria dei Registri Immobiliari and the Local Land Register.

4. Formalities to be observed after Completion

Foreign buyers should obtain a certified copy of the Purchase Deed (Rogito), which the Notary will have lodged with the authorities. Generally this will be available to collect around 2 – 3 weeks after completion. The Notary will also give you a form to complete for the the local authority (Questura) who will have been given formal notice of the purchase. Your Notary will help you to complete this form. You will need to contact the utilities companies to set up new contracts (power, water, telephone, gas etc.). If the property is a flat, the condominium manager (Amministratore del condominio) should be informed of change of ownership of the property.

IMPORTANT - Disclaimer : All information provided is believed to be current and provided free of charge. No liability can be accepted for the reliability of the information and statements made as this is obtained from 3rd parties. We always recommend you take legal advice from a fully qualified Lawyer or Notary before buying a property overseas.