Authentic 7 bedroom Villa for sale with sea view in Santa Barbara de Nexe, Algarve

2,900,000 EUR 2,494,000 GBP 3,132,000 USD

Reference: 241670

Bedrooms: 7
Bathrooms: 8
Floor Size: 3,489 m2
Plot Size: 347 m2

Features

Balcony
Terrace
Air Conditioning
Fireplace
Renewable Energy
Possible Extra Dwellings
Potential for Income
Sea View
South Facing
Parking
Good Condition

Details

Wonderful opportunity to acquire a stunning 2 bedroom South facing villa with 4 separate cottages, garden and pool, enjoying panoramic sea views from its location in Goldra de Baixo.

This charming property is licensed for touristic use with a Tourism Rural but can be a private property for a family. It is composed of a main 2 bedroom house which enjoys stunning southerly views and a private sun terrace. There is a nice fireplace, the kitchen was renovated some years ago, a very charming master bedroom, storage and utility room.

There are 4 separate cottages: House N. 2: 2 bedroom detached villa with terrace and sea view, consisting of living room, equipped kitchen and 2 bedrooms en suite.

House N. 3: independent villa T2 with terrace access to garden, consisting of a living room, an equipped kitchen and 2 bedrooms en suite.

House N. 4: independent apartment T1 with sea view, composed of a very bright living room with direct access to terrace and balcony with sea view, an equipped kitchen, a bathroom and a bedroom.

House N. 5: independent apartment T1 with access to terrace and garden, consisting of a living room, an equipped kitchen, a bathroom and a bedroom.

Each annex contains traditional features and are perfectly decorated with wooden ceiling and Portuguese tiles, the different dwellings are all well maintained.

The pool and the terrace are in front of the Ocean and it creates a magical atmosphere of wellness. There is also a covered area which comprises the bar and entertaining spaces. There are solar panels for the hot water and a borehole as well as a cistern for the irrigation, there is also the mains water.

The property has a Local Accommodation license with an annual income of 200,000 euros.

It is 15 minutes from the airport, 10 minutes from the beaches of Vale do Lobo, and 20 minutes from Vilamoura and the magic golf courses.

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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.