Bright 7 bedroom Villa for sale with sea view in Porto de Mos, Algarve

2,000,000 EUR 1,720,000 GBP 2,160,000 USD

Reference: 231744

Bedrooms: 7
Bathrooms: 7
Floor Size: 443 m2
Plot Size: 2.64 hectares / 6.52 acres

Features

Terrace
Possible Extra Dwellings
Potential for Income
Sea View
Private
Garage
Good Condition

Details

Spacious 7 bedroom villa, with a total traditionally designed living area of 443m2, set within a large plot of 26,400m2 with a swimming pool and stunning far reaching countryside views towards the sea.

With great potential and in need of some updating, this could be a luxurious dream home situated close to the sea and on a large piece of land that is not remote.

Set out over 3 floors and with many divisions within the internal area, the ground floor currently comprises of a customary living room, kitchen and main social areas that extend out onto the terraces and swimming pool area.

On the upper level there are various bedrooms, bathrooms and balconies with sea views and the basement level has further accommodation, games room, wine cellar and a garage.

There is also a private guest house adjoining the main property.

This location is very appealing as it is within walking distance of a lovely beach, has easy access to town as well as close to all amenities.

Although there is construction going on in the vicinity, the size of the land will ensure that the new owner will have a generous piece of real estate minutes from the beautiful Algarve coastline.

There is also the possibility to divided the land should a new owner wish creating up to 7 building plots.

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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.