6 bedroom Villa for sale with Income Potential in Almancil, Algarve

1,500,000 EUR 1,290,000 GBP 1,620,000 USD

Reference: 245477

Bedrooms: 6
Bathrooms: 5
Floor Size: 430 m2

Features

Balcony
Terrace
Garden
Private Pool
Golf Resort or Nearby
Air Conditioning
Renewable Energy
Potential for Income
Contemporary Style
Good Condition

Details

Impressive and stylish modern villa just a short drive from the heart of Almancil with swimming pool and spacious accommodation.

The newly built luxury property has been finished to the highest of standards using quality materials and full of natural light throughout, with an impeccably manicured garden that includes a generously sized saltwater and pool and Jacuzzi combination.

The six bedroom, five bathroom villa consists of three en-suite bedrooms on the ground floor, one of which is a master suite complete with a walk-in wardrobe. The remainder of the ground floor is dedicated to a fully fitted kitchen with pantry and designated laundry room and open concept living and dining area with access to a fantastic terrace.
The upper floor, with its own separate entrance, serves as an independent living space with its own kitchen, living and dining areas, two large bedrooms and an additional office space. This part of the property also comes with a gorgeous terrace.

The property comes with a number of additional bonus features such as pre-istallation for pool heating, AC throughout, solar panels, electric car charger and security system.
Ideal for families looking for proximity to both public and international schools, amenities and sports facilities, holiday makers looking to acquire a second home that offers the perfect balance between proximity to golf, beaches and the airport, whilst still maintaining a comfortable distance from the busy areas, or investors looking to generate rental income.

Only 20 minutes to Faro International Airport and 10 minutes to some of the Algarve and its most stunning beaches and world-class golf.

Plot Area: 1,021 m2 | 10,992 sq ft
Area: 430 m2 | 4,628 sq ft
Useful area: 270 m2 | 2,906 sq ft
Bedrooms: 6
Bathrooms: 5
Energy efficiency: A

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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.