Character 8 bedroom Farmhouse for sale with panoramic view in Cumieira, Santa Marta de Penaguiao, Portugal, Northern Portugal

3,300,000 EUR 2,838,000 GBP 3,564,000 USD

Reference: 242724

Bedrooms: 8
Bathrooms: 7
Floor Size: 1,530 m2
Plot Size: 29.42 hectares / 72.7 acres

Features

Fruit Trees
Lake or River Included
Vineyard or Wine Making
Golf Resort or Nearby
Potential for Income
Panoramic View
Private
Parking
Garage
Good Condition

Details

Fantastic totally refurbished 8 bedroom wine property, with unique architecture and in excellent condition throughout.

This beautiful property is located in the oldest demarcated wine region of the world: Douro Valley, in Santa Marta de Penagui, just 5 minutes from Vila Real and 20 minutes from Peso da Regua.

With 19 hectares of mechanised vineyard, which produces DOC Douro wines, port wine and also olive oil, all of excellent quality, possessing their own brand.

The main house was built in the 16th Century, having initially belonged to Mateus Palace. It was adapted to the exploitation of eco-tourism and rural tourism, with interior and exterior rooms to host many events.

Singular wine property with the vineyard on flat land bordering the river Corgo, in a stunning landscape in a peaceful environment.

There is also a traditional wine cellar with room for tasting and selling wines and regional products.

CHARACTERISTICS:
Plot Area: 294,197m2 | 3,166,710 sq ft
Building Area: 1,530m2 | 16,469 sq ft
Bedrooms: 8
Bathrooms: 7
Garage: 20
Energy efficiency: D

FEATURES:
The property is located in a region renowned world wide for its natural and unique beauty with valleys, hillsides, and serpentine rivers flowing into the Douro river.

The vineyards produce wines of the highest quality recognised world wide.

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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.