Servizi

 

BUYING PROPERTY WITH ABITASERVICE

Our fee for buyers of properties we deal with directly  is 2% (with a minimum payment of €2500)+ VAT, payable in Italy. For properties we have in collaboration with other agencies a higher fee may be applied.

This is payable at compromesso .

Other extra services payable in addition to our purchase fees if required

- arranging power of attorney if you can't be there to sign.

- changing utility bills into your name, and informing the council and other bodies of the change of ownership 

- arranging insurance 

- structural survey - 

- summaries/translations into English of Italian quotes, surveys or other documents

- Project management of restorations 

- arranging telephone connection / swimming pool installation / anything else 

- consultancy work - such as feasibility studies 

ALL PRICES ARE SUBJECT TO VAT (22%)

PURCHASING A PROPERTY IN ITALY

Purchasing a property in the foreign countries can be complex, every country has its norms and the linguistic barriers that can create innumerable problems.it is essential to apply for a real estate agent  who will recommend the right investment and will guide to the procedures needed to buy.  

 

1) The first step in buying a property in Italy is  the IRREVOCABLE PURCHASE PROPOSAL  (IRREVOCABILE PROPOSTA D’ACQUISTO) which serves to block the sale of the property and is an agreement that identifies the two parties : the buyer and  the seller, sets the price, the date of  the COMPROMISE and the date of the  PUBLIC ACT. The signing of the PROPOSAL  is paid by the buyer to deposit an amount by check  which is held on deposit by  the Real Estate Agent. Acceptance of the proposal by the owner of the check has been cashed by the same and this is a mutual commitment to buy and sell. This amount is already a deposit  (CAPARRA CONFIRMATORIA) which is then deducted from 30% of the purchase price, which in practice is required to sign the COMPROMISE.

2) The COMPROMISE or PRELIMINARY AGREEMENT  (COMPROMESSO o  CONTRATTO PRELIMINARE) is a document that specifies the precise addition to the parties already identified in the PROPOSAL, cadastral data of the building, planning permission for the construction and transformation required, price and form of payment, the state of property and freedom of the same by mortgages and mortgage loans, guaranteed by the seller. The signing of the PRELIMINARY AGREEMENT is usually paid an amount equal to 30% of the purchase price.

The amount paid to COMPROMISE is the "deposit" which commits the two sides further. After this payment and sign the seller who wants to move back from the sale must deliver to the buyer double the deposit. Conversely, the buyer who did not want to buy  any more, loses  the deposit paid. In both cases, however, the parties can  apply to the court and ask the performance of the contract.

Both IRREVOCABLE PURCHASE PROPOSAL that PRELIMINARY AGREEMENT shall be registered with the Inland Revenue with the payment of a fee equal to 0.5% of the figures paid over a fixed amount of 50.00 euros and administrative expenses.

3) In the case of the presence of Estate Agent  there is a fee to pay for the purchase (COMPENSO DI MEDIAZIONE) is 2%.-3% of the purchase price (with a minimum of 2500.00 euros), plus VAT and contributions accessories. And it must be paid to the real agent  estate. A such compensation is considered to be minimal and  many agencies require higher rates. This fee is paid at the moment of  the COMPROMISE.

4) THE  FINAL ACT OR NOTARY PUBLIC (CONTRATTO PUBBLICO) is the final contract of sale. It  is signed by a notary public who is a public official after a period that usually ranges from one to three months after the conclusion of COMPROMISE. Sometimes,  however, the PUBLIC  CONTRACT can also be concluded immediately, by passing both the  IRREVOCABLE PURCHASE PROPOSAL both the  COMPROMISE that, but given the due process of law in Italy is almost always necessary to provide a few months of time for the arrangement of the various legal and practical techniques needed for the sale.

The buyer and  the seller must be present before the Notary Public for the signature of the authentic. If the buyer or  the seller are not present , a power of attorney  can be prepared in favor of a third person  , (cost about 250.00 Euro) who  will sign on their behalf. Also, if the notary verifies that the buyer is not able to understand well enough the Italian language  a power of attorney will be equally prepared in favor of an Italian speaking subject.

The purchase taxes and notary's fees are payable upon signature of the authentic.

If the buyer cannot or does not want  to be present , the real estate agent can prepare before a Notary  a special  power of attorney and send it to the purchaser who will sign it in front of a public official in his country. This will then be sent  to the Real Estate Agent who will be able to  sign the compromise, the Public Act, or both in the name of the purchaser.

5) The PURCHASE TAXES are 4% of the cadastral value of the property (3% plus additional fees) if the buyer purchases the property as a the first house  in Italy and is committed to take up residence.

When the foreign buyer, however, has a house in Italy where he has his residence, or does not want to take up residence in the building to buy, the taxes are 10% on the cadastral value of the property.

If the property is defined Luxury taxes rise to 20% over 504.00 Euro fixed taxes.

If the seller is a construction company, the purchase taxes are VAT 4% in the case of a first house e, or 10% in other cases, percentages calculated on the declared value.

In the case of luxury property sold by a construction company VAT rises to 20% over 504.00 Euro fixed taxes.

On agricultural land instead taxes are 18% on the declared value.

6) The fee of the notary who signs the document and that guarantee the legality of the purchase is paid by the purchaser only and amounts to a percentage of 1.2% of the declared value. This must be paid upon signature of the “ Final  Public Act”.

7) Technical Support when performed by a surveyor or other professional architect etc. is the preparation and verification of all the documents required to be delivered to the Notary with a specific relationship to the stipulation. Its cost amounts to 0.5% + VAT of the declared price. When the customer requests a 'Structural Survey of the building (structural survey), its cost amounts all'0, 5% plus VAT of the declared price.

Notes

For the purchase of a house in Italy you must have the "Tax Code" (tax code) that the real estate agent can require  for the buyer.

 

If the buyer has the need to restructure or transform the property purchased, the real estate agent can arrange this activity. He will contact   professionals and entrepreneurs who can design, monitor, and carry out the works.  In Italy many  "permissions" are necessary  to perform renovations and professionals  will be able to perform these procedures.