7 bedroom Villa for sale with countryside view with Income Potential in Olhao, Algarve

1,650,000 EUR 1,419,000 GBP 1,782,000 USD

Reference: 245980

Bedrooms: 7
Bathrooms: 5
Floor Size: 275 m2
Plot Size: 2.5 hectares / 6.19 acres

Features

Parking
Good Condition
Balcony
Terrace
Roof Terrace
Garden
Land
Private Pool
Air Conditioning
Fireplace
Renewable Energy
Possible Extra Dwellings
Countryside View
South Facing
Private
Quiet Area

Details

Wonderful opportunity to acquire a very well presented 4 bedroom South facing villa with 3 additional studio apartments, nestling in over 6 acres of glorious land with beautiful gardens and pool, while enjoying far reaching countryside views to the sea beyond from its peaceful location near Olhao.

The studio apartments each have 1 bedroom, 1 bathroom and 1 small kitchenette, ideal to receive guests and still benefit from full privacy.

The main house offers a spacious living and dining area with fireplace, one main fitted kitchen and 1 bathroom. The dining area is the focus of the ground floor, offering large windows such as patio doors leading onto a peaceful terrace with covered dining area and a breathtaking view to the green mountains, sea and pool area.

Going up to the first floor there are 4 bedrooms, 1 bathroom, 1 kitchenette and a large terrace with stunning views.

The outside area is a real oasis, surrounded by a large plot of 2.5 hectares, offering several relaxing areas, a fireplace, a large private pool and an outdoor pool bar.

The house has a great structure, underfloor heating, unique location and a lot of potential to create the house of your dreams for living all year round.

A perfect property for those seeking an authentic life close to nature in an idyllic area in the middle of the countryside yet close to the beach.

Near to Moncarapacho and the charming fisherman's town of Fuseta.

FEATURES
2 Bore Holes
Double Glazing

Show Map

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.