Do you want to buy a house in Italy? This is the way we can help you step by step.
Marking an acceptable offer
A formal agreement, known as the Compromesso
The final legal transfer, known as the Rogito or Atto Notarile
BUYING THROUGH GLOBAL SERVICES
Although it is possible to buy a home without using an agent, we can offer you a complete service. We will help you to find the property you are looking for and we’ll be with you till the sign of the final deed
In case you are buying through our agency we apply the same fee of all agencies which is 3% +VAT (the fee can be negotiable) and we represent both buyer and seller
If you are a foreign buyer you are likely to find that an English-speaking agent will offer valuable support and advice in return for his fee.
OFFER (Offerta d’acquisto)
As soon as the price, the land boundaries and details of the property have been established, as well as the terms of payment, you will be asked to pay a security deposit, usually around € 3.000,00 to be paid by means of cheque or bank money transfer as free trust deposit in the hands of the representative of our agency.
This amount is given back free of any penalty or indemnity, in case the seller does not accept the offer.
In the offer the seller has to give some guarantees to the purchaser regarding the availability of the property, conforming that it is in the order with the building regulations in force and that all taxes have been paid.
PRELIMINARY CONTRACT (Compromesso)
The details of the contracting parties, the details and price of the property, the methods of payment, the dates for the signature of the final contract and any other clauses that might be relevant will be then fixed in this legally binding, private contract between the signatories. In this contract the full price being paid for the property is stated. At this stage our help and assistance are guaranteed. We will insure that there are no loans, liens, or other impediments such as rights of way on the property, that the property is the exact one and that the building regulations are in order.
Once the agreed deposit has been paid ( the deposit amount, called caparra confirmatoria, can vary between 10% and 30% of the sale price) and the Compromesso has been signed, both parties are bound to complete.
Italian law wants that the preliminary contract , once signed by both parties, has to be registered in the office of Agenzia delle Entrate. This will be made by the estate agent only when you buy through an agency.
The fix fee will be paid from both parties.
The documents you will need for the preliminary contract and final deed are:
Tax ID (Codice fiscale)
The Italian tax code can either be prepared at the Italian Consulate in the Purchaser’s country of residence, or alternatively, while the Purchaser is still in Italy.
Bank Account:
It is necessary for the Purchaser to open an external Euro bank account, while in Italy.
Id / Passport
Fotocopy only
FINAL DEED (Rogito or Atto Notarile)
We will fix for you the appointment with notary, bank and seller. Our help at this stage can be crucial
This final contract has to be made in front of the Public Notary.
The Notary is bound by law to read aloud the contract to the interested parties.
Vendor and the Purchaser must be present at the signing of the Final Deed.
The deed is signed by the Vendor and by the Purchaser and is then countersigned by the Notary. At this stage (in the Office of the Notary ) the taxes ( imposta di registro or IVA, ipotecaria, catastale) have to be paid.
(N.B.: IVA in Italian = Vat in English )
All government taxes and fees are calculated by the notary at the moment of the final deed .
After the signing of this contract there is a period of approx. 3 weeks before the new owners receive this document.
This is the title deed of ownership of the property.
Power of Attorney: it is necessary to rely on an officially accredited translator, unless the Purchaser speaks sufficient Italian to guarantee the Notary that he or she understands the contents of the Final Deed.
This document can either be prepared or signed before the final deed while the Purchaser is still in Italy, or alternatively, at the Italian Consulate in the Purchaser’s country of residence.
At the time of the signing of the Final Deed the following fees have to be paid:
The Notary’s fee:The Notary’s fee has to be paid in the Office of the Notary at the time of the signing of the Final Deed.
Global Services’s commission: 3% of price of purchase price + VAT.
Translator fee: professional tariffs applicable.
DOCUMENTS REQUIRED
Id/Passport fotocopy You need the original only to be shown to the Notary
Tax ID ( Codice Fiscale) fotocopy only: This document can either be prepared at the Italian Consulate in the Purchaser’s country of residence, or alternatively, while the Purchaser is still in Italy.
Bank Account
It is necessary for the Purchaser to open an external Euro bank account, while in Italy.
Proof of Residence
Legal copy of marriage act
COSTS OF BUYING AND OWNIG A PROPERTY IN ITALY
PRELIMINARY CONTRACT
Costs of registration of preliminary contract and tax stamp.
Agency’s commission
FINAL DEED
Taxes for the property such as:
- Notary’s fee (Imposte per il trasferimento della proprietà)
- Translator’s fee (Imposta di registro or IVA)
- Attorney’s fee (Imposta catastale e ipotecaria)
AFTER THE PURCHASE
HOMEOWNERS COSTS
- ICI
- Tax for garbage
- ENEL (electricity)
- Water
- Condominium’s fee