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Bare Ownership, Playa Flamenca, 03189

Townhouse - For sale
Equity Release investment; Impressive 3 bedrooms, 2 bathrooms quad house located in Playa Flamenca. Opportunity for the right investor.
€75,000 ( PW)

Highlights

Address:

Bare Ownership, Playa Flamenca, 03189

Price:
€75,000 ( PW)
Property type:

Townhouse - For sale

Reference:

ERS004


Property description

BARE OWNERSHIP OPPORTUNITY. Our role in the Equity Release sector in Spain is to offer deals whereby both parties; the buyer and the seller get a great deal. This wonderfully maintained property just 45 minutes from Alicante airport is one of those deals. 

One of the owners does not mind us saying that he is currently unwell and wishes to ensure the financial future of his wife, as we would all do. Without any heirs, the obvious way to free up some equity is through a bare ownership plan. The investor will allow them to live in their property, where they have been for the past 7 years, until the end of their days here. Most of the money will be tax-free for the sellers as they clearly will have no capital gain tax liability. We take the deal to the public notary in La Zenia and therefore everything is stamped in the Spanish land registry. This attention to detail also helps the investor. Again, a tax-efficient investment for the new owner, they also benefit from a discount of around 50%. 

Equity Release is a great alternative. Should the sellers decide to downsize instead almost all the equity they gain will be used up in taxes, fees, commission and moving costs. This way, they keep their home while increasing cash flow. 

Spanish solutions, our legal partners will process the deal for the buyer and seller, also with a 50% discount. We find that lawyers in Spain don't quite understand it. It is important that your legal and tax advisors have experience in the sector. 

The house can be bought today for 75,000 euros. The equivalent home is for sale today on Kyero.com for 160,000 euros in a regular purchase. We say "equivalent" home but it is unlikely there is another one in the community that has been cared for and minded as well as this one. 

Not a thing was out of place and many extras like the upstairs bar on the sunny terrace add to the value. They also put in a wine fridge up there; as they said, "you don't want to have to go downstairs to get another bottle of wine!" 

It's an impressive 3 bedrooms, 2 bathrooms quad house, located in Playa Flamenca. The living room is larger than normal with an option to convert it to a fourth bedroom if required. The east-facing conservatory at the front of the house is the perfect morning coffee location all year round. The quality is exceptional all around the property; kitchens and bathrooms are larger and finished better than the modern new properties people go for these days. There is lots of parking both inside the house and on the quiet private street. The security gates make it safe and secure for the whole family. 

The community is mature, clean, and exceptionally well maintained (with tens of thousands s of community fees in their current account should any emergency work need to be done!). The community pool is perfect for a cooling-off dip when you don't feel like a stroll to the beaches of the Mediterranean coast at Playa Flamenca or La Zenia. 

This is an exceptional property and potentially the best investment a buyer will ever make. 

Take the opportunity now to purchase the property at 50% below the market value while the current owners remain taking care of the property and paying the continued fees relating to the running of the house.

For more information on how Bare Ownership works please contact us today.


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Information

Under the Property Misdescription Act 1991 we endeavour to make our sales details accurate and reliable but they should not be relied upon as statements or representations of fact and they do not constitute any part of an offer... of contract. The seller does not make any representations to give any warranty in relation to the property and we have no authority to do so on behalf of the seller. Services, fittings and equipment referred to in the sales details have not been tested (unless otherwise stated) and no warranty can be given as to their condition. We strongly recommend that all the information which we provide about the property is verified by yourself or your advisers. Under the Estate Agency Act 1991 you will be required to give us financial information in order to verify you financial position before we can recommend any offer to the vendor.

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Contact us

  • Abbie
  • Phone: 0034 727 787 41
  • Email: hello@spanishhomes.online

Contact us

  • Abbie
  • Phone: 0034 727 787 41
  • Email: hello@spanishhomes.online

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Bare Ownership, Playa Flamenca, 03189