Quiet 7 bedroom Villa for sale with sea view in Moncarapacho, Algarve

1,650,000 EUR 1,435,500 GBP 1,633,500 USD

Reference: 236519

Bedrooms: 7
Bathrooms: 5
Floor Size: 275 m2
Plot Size: 2.5 hectares / 6.19 acres
Work Required: None
Swimming Pool
Gite / Annex / Additional Accommodation
Income Potential
Air Conditioning
Parking space(s)
Private / Not Overlooked

Details

Charming countryside villa with 3 guest studios apartments, ideally located in a quiet setting close to Moncarapacho, set within a large 25,040m2 plot with a swimming pool and lovely countryside views.

With a total living area of 275m2, the villa consists by the main house and 3 additional self-sufficient studio/apartments, all of which have a bedroom, bathroom and a small kitchenette, ideal to receive guests and still benefit from full privacy.

Main house:
Ground floor: large living/dining area with a fireplace, fitted and equipped kitchen and a 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 breathtaking views towards the green mountains, sea and pool area.

First floor: 4 bedrooms, bathroom, 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 chill-out areas, fireplace, 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 a dream house and a good income.

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 fisher-mans town of Fuseta.

Building specifications:
- Southern exposure
- 2 bore holes
- Floor heating
- Solar panels
- Additional air conditioning (cooling and heating) in all studio/apartments
- Fireplace
- Double glazing

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Portugal Property Buying Guide

Guide to the Portugese Buying Process

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.