Unique 7 bedroom Estate for sale with panoramic view in Porto, Veneto
Situated close to the centre of Vizela and Felgueiras, and about 40 minutes from Porto, is this excellent, fully restored wine estate. This project was carried out while taking into account the preservation of traditional Portuguese architecture in all its details, as well as the use of high-quality finishes with contemporary comfort.
The main house has five suites, two living rooms, a dining room and a library, the latte...
Situated close to the centre of Vizela and Felgueiras, and about 40 minutes from Porto, is this excellent, fully restored wine estate. This project was carried out while taking into account the preservation of traditional Portuguese architecture in all its details, as well as the use of high-quality finishes with contemporary comfort.
The main house has five suites, two living rooms, a dining room and a library, the latter on the second floor.
The other house has two en-suite bedrooms, a living room and a kitchen, with a more rustic feel.
Both enjoy a beautiful outdoor space with romantic gardens and a swimming pool with a unique setting over the whole estate, as well as a rustic living room with regional cuisine, and garage for 3 vehicles.
The property is complemented by an excellent vineyard that produces high quality grapes of vinho verde varieties, as well as a huge, well-tended garden area with two lakes, a romantic woodland and all the conditions for relaxing.
This is a great investment opportunity for those looking for a wine estate in the Vinho Verde region, close to Porto, to develop a new tourism project.
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This Estate is located in Porto 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.