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Mallorca, 07311, Spain
€350,000
Property features
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  • 2 bedrooms
  • 80 m²
Property description
Life-annuity Apartment for Sale Son Espanyolet/Palma...
Life-annuity Apartment for Sale Son Espanyolet/Palma. Apartment sold on an occupied life-annuity formula basis (French "viager") in Son Espanyolet, quiet and very sought-after district of Palma. The apartment has 2 bedrooms, 1 full bathroom and a total area of 80 m2 including a 15 m2 terrace. Additional Features: Air conditioning, south orientation, view over the tennis club. 2nd floor (no lift) - Low community fees: 40 euros /mes Transaction: The transaction is established as follows: - Initial settlement (bouquet): 200,000 euros,   paid by the buyer cash at the time of sale* - Life Monthly Annuity: 400 euros / month, until seller's death and up to a maximum of 150,000 euros. The seller commits to maintain the property in good conditions, but the buyer is responsible for the important renovation works. *Like any deed of sale, the life annuity is subject to rules and is validated by a notarial deed. The notary will take out a sort of mortgage known as a "seller's privilege" over the property sold to enable the seller to reclaim the property if the buyer fails to pay the annuity. This transaction allows you to acquire a real estate at a lower cost in a prominent area of Palma. Please, don't hesitate to contact us for more information on this property. About the Area: Son Espanyolet is a quiet and charming Palma neighbourhood next to popular Santa Catalina district and near the capital's historic center. In Espanyolet, one will find a high quality of life with all amenities (even the beach) within walking distance, while living in a peaceful area, away from the busy city core. Find also this property on Idealista , Piso.com and ImmoWelt. See other listings from same agent here...
Mallorca, 07311, Spain, Mallorca, Spain
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