8 bedroom Complex for sale with countryside view with Income Potential in Odemira, Alentejo Southern Portugal

950,000 EUR 817,000 GBP 1,026,000 USD

Reference: 244369

Bedrooms: 8
Bathrooms: 6
Floor Size: 272 m2
Plot Size: 0.96 hectares / 2.38 acres

Features

Garden
Land
Fruit Trees
Private Pool
Multiple Dwellings
Countryside View
Turnkey

Details

Unique opportunity to acquire 3 well presented fully furnished villas nestling in over 2 acres of glorious land with pool, olive grove and fruit trees, enjoying far reaching countryside views from its peaceful location in Odemira.

This complex presents an excellent business opportunity or for housing. Only 15 minutes away from the beautiful river beach of Albufeira de Santa Clara, and 50 minutes from the best beaches in Vila Nova de Milfontes.

The 3 properties are 1 bedroom, 3 bedroom and 6 bedroom, all fully furnished and equipped, with photovoltaic electricity, satellite internet, 1 well and an active borehole connected to them all.

The villas are distributed as follows:

1 bedroom villa: • Ground floor • Living room with fireplace • Kitchenette • First Floor • Bedroom • Bathroom.

3 bedroom villa: • dining room • Living room • fully fitted kitchen • 3 bedrooms • 2 bathrooms • 1 games' room • Large dimensioned habitable attic • Heat recovery unit for the living room and for one of the bedrooms.

4/6 bedroom villas: Ground Floor • Huge living room with direct access to the exterior. • dining room • fully fitted kitchen • Two spacious rooms that work as storage areas and can be converted into bedrooms. • Full private bathroom, • Terrace with dining area.

On the first floor are 4 bedrooms with balcony and 2 bathrooms.

The villa is equipped with a heat recovery unit and two pellet recovers with pre-installation of central heating in all the rooms.

The municipality of Odemira belongs to the district of Beja, being characterised by its immense landscape diversity, records the largest territorial extension of the country, with an area of
1720.25 km2 and just over 26 thousand inhabitants.

Odemira has several traces of ancient cultures, highlighting the Roman and Arab cultures. The region is known for its diverse heritage of artisanal activities, such as: basketry, ceramics, pottery, weaving, tin smithing, manufacture and packing of chairs, violas, miniatures of local activities and agricultural tools and equipment.

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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.