6 bedroom Villa for sale with Income Potential in El Toro, Mallorca

895,000 EUR 769,700 GBP 966,600 USD

Reference: 228372

Bedrooms: 6
Bathrooms: 4
Floor Size: 300 m2
Plot Size: 500 m2

Features

Terrace
Air Conditioning
Possible Extra Dwellings
Potential for Income
Quiet Area
Parking
Garage
Turn Key Good Condition

Details

Spacious and completely refurbished villa and guest apartments, with a combined total living area of 500m2, ideally situated in a quiet setting in El Toro, within a 500m2 plot with ample room to instal a swimming pool, if required.

Recently fully renovated, this property is located in a beautiful and quiet neighbourhood and not far from the seashore, it is ideal as a permanent or holiday family home or as an investment for holiday rentals.

Main house: bright and spacious living/ding area with an open fitted and equipped kitchen, 3 double bedrooms plus an office or nursery room and 2 bathrooms.

2 independent apartments with 2 and 1 bedrooms respectively.

Additional features: high quality fitting and features, garage and parking spaces, electric gated driveway, store room, decked terrace, children's playground, fitted wardrobes, reversible air conditioning in all rooms, low energy electric heating system, double glazed windows, laundry room, store room, swimming pool possible.

The property is close to all amenities, shopping facilities, restaurants, cafes and to the beaches.

El Toro is a seaside community next to the high-end Port Adriano yacht marina. It is part of the Mallorcan district of Calvia on sought after south west coast of the island, some 20km away from Palma centre and international airport. El Toro is also close to the breathtaking World Heritage Serra de Tramuntana, the main mountain of the Balearics.

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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.