71,050
Build:
Plot:
THIS IS AN EQUITY RELEASE/ NUDA PROPIEDAD
Market Value euro135,000
Purchase today* euro71,050
Discount euro47%
*Inclusive of Buyers Fee
THIS IS AN EQUITY RELEASE/ NUDA PROPIEDAD
For sale is the BARE OWNERSHIP of this lovely 3 bedroom, detached bungalow in Torremendo, Orihuela. The current owners, who are male 76 & female 73 years old reserve the right to use and enjoy the property for the rest of their lives and reserves the right to use and enjoy the property for the rest of their lives or a predetermined, fixed period.
What does this mean?
This property offers a unique chance to acquire ownership through Nuda Propiedad, a concept meaning "bare ownership." Here's how it works:
You purchase a portion of the property's ownership at a discounted price compared to the market value.
This creates two ownership rights:
Usufruct: The seller retains the right to live in and use the property for their lifetime or a predetermined, fixed period..
Bare Ownership (Nuda Propiedad): You acquire ownership of the property itself but cannot occupy it until the usufruct period ends.
Once the usufruct period expires , full ownership, including occupancy rights, will transfer to you.
This approach allows you to invest in the property's future value at a reduced cost, while the seller enjoys continued use of the property. It's a great way to enter the property market or invest for the mid term.
About this Property
This detached bungalow contains 3 double bedrooms, one with a walk-in wardrobe and ensuite bathroom! There is a further shower room for guests, there is also a large lounge-dining room and kitchen diner with utility room.
The property has all new piping and has been completely rewired, it also has a new main roof. Outside there is a large court yard with shed and spiral stairs to roof terrace with lovely views across to reservoir and mountains.
It is located in Torremendo, which is a typical spanish village where there are 5 restaurants, bakery, general shop, chemist, Doctors, tobacco shop, ferreteria, municipal swimming pool, playground, football pitch and school.
Just 45 minutes drive from both Alicante (ALC) and Murcia (RMU) international airports. It is also 20 minutes drive from the popular La Zenia shopping mall and beaches.
Both buyer and seller will be protected by water tight contracts and agreements signed and stamped by the Spanish public notary and the Spanish land registry.