20 Aprile 2024
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Purchase Guide

Buying a house is probably one of the most important steps we could find ourselves taking throughout our entire life.

Let's see and analyze all the phases that lead to the purchase of a house.

The choice of the property is obviously the first step to take, a moment that must be chosen without haste and with extreme consideration, better if resorting to the advice and assistance of a Professional Real Estate Agent.

Once the property of your wishes has been identified, the next step is to prepare a Purchase Proposal to Buy, the first official document where the intention to purchase the house is formalized and parties undertake to respect the conditions contained in the document. At the same time, the buyer pays a deposit, generally between 5% and 10% of the offered price.
If necessary, the purchaser can make the validity of the Purchase Proposal To Buy conditional on obtaining a loan from the trusted bank.

We then move on to the phase of the Preliminary Contract, to be drawn up by a trusted Notary who includes all the conditions and terms of the sale.

Although the purchase proposal to buy is a very widespread tool, the preliminary sales contract can replace or supplement it, and, sometimes, certain conditions or timing omit its preparation by proceeding directly to the signing of the preliminary contract.

The Preliminary Contract must contain all the clauses of the sale, indicating precisely the main elements such as the house to be purchased, the address and a description (floors, rooms, etc.), the Land Office data (attaching the floor plans to the contract), the agreed price and method of payment, the date by which the final contract must be concluded.
Upon signing the preliminary contract, the buyer pays a deposit to the seller which is generally 20 or 30% of the price.

The final step of the purchase process is characterized by the drafting of the Notary Deed, or Final Contract of sale, which represents the moment through which the definitive transfer of the property takes place from the seller to the new owner.
It is drawn up by the purchaser's trusted notary and contains all the elements necessary to identify the property, the conformity, the price and the payment methods.
It is possible that the parties choose to enter into the deed directly without going through the preliminary contract.
Upon signing the deed, the buyer pays the balance of the price to the seller.

The purchase costs for the buyer are:
- Agency fees = 3% on the sales price plus 22% VAT

(for purchase prices equal or less than 166.000 euro, the agent fee is euro 5.000 plus Vat),
- Notary fees
- Preliminary Agreement Registration fees, taxes and stamps.
- Final Notary Contract Registration fees, taxes and stamps.

In total, the costs for the purchase of a property in Italy are approximately, between 5-10% of the purchase price for the First Home buyer, and between 10-16% of the purchase price for the Second Home buyer , however our agency will be able to provide the buyer with a quote containing the sums due for the items indicated above.

A Codice Fiscale, Tax Code, is needed to the buyer for purchasing a property in Italy. The codice fiscale (or fiscal code) is an Italian tax identification number. It is issued free of charge and, not only is a codice fiscale required to purchase a home or land in Italy, it is also necessary if you want to obtain a mortgage, open an Italian bank account, get a cellphone number, put utilities in your name, get insurance, take a job, etc.
You can get the Codice Fiscale applying through your country's Italian embassy or consulate, or, we will very glad to assist you to get one in Italy at a local tax office.

Tuscany Inside Real Estate by Anna Rivieccio offers a complete and professional service, covering, step by step, together with the customer, all the stages of the sale, from the first contact to the signing of the deed.

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