1. THE OFFER ON PURCHASE (PROPOSTA DI ACQUISTO) After survey of the real estate and its approval you direct to the Seller the written offer on purchase in which register parametres, a site, the price, and also conditions and payment time.
In addition to the offer leave in Agency advance payment at a rate of 5-10 % from the declared cost or draw the check as acknowledgement of gravity of the intentions. Advance payment will be completely returned at disagreement of one of interested parties.
2. THE PRELIMINARY CONTRACT (PRELIMINARE DI VENDITA) In case of acceptance of your offer the Seller the Agency makes the preliminary contract on purchase in which requisites, the detailed description of the real estate, the price of sale/purchase, a condition and a way of payment, date of the conclusion of the contract, and also terms of signing of the final contract are specified.
You bring the deposit addressed to the Seller at a rate of 10-30 % from a total cost, and also commission fee.* From this point on the exclusive right to purchase is fixed to you.
From the moment of signing of a contract and entering of the first payment before the transaction termination passes 30-45 days. For this period the sold real estate is checked by the State notary on absence of mortgages, legal or other obligations. You translate the sum rest into the personal account in the Italian bank.
The contract is not cancelled and in default from the further registration of the transaction you lose the deposit brought earlier, and in default the Seller, last returns the deposit translated to it with additional monetary indemnification.
3. THE FINAL CONTRACT (CONTRATO NOTARILE DI COMPRAVENDITA) After time necessary for preparation and check of documents both Parties, Agency and the translator meet in a notary's office for signing of the Certificate of purchase and sale. Certificate signing occurs in the presence of the Italian notary who in the person represents the state, assures the fact of transition of the property right of the real estate and supervises payment of registration taxes and tax collections.
You pay the remained cost of the real estate plus taxes and notarial services.*
You enter Italy in seizing from the moment of signing of the Certificate of purchase and sale, and officially after its registration by the notary in Conservatories of Registers of the Real estate where to it registration number is assigned.
*TAXES AND PAYMENTS AT REAL ESTATE PURCHASE IN ITALY
1. NOTARIAL SERVICES cost of services depends on complexity of the certificate and cadastral cost of the real estate (the above cost, the is less percent). On the average cost: 1,5 % - services + 1,5 % - registration in the real estate Register;
20 % of the VAT from cost of services of the Notary.
2. AGENCY FEE 3-5 % from the sale price – the commission for intermediary services as agents;
20 % of the VAT from the commission sum.
3. TAXES AND TAX COLLECTIONS ON REAL ESTATE ACQUISITION «Imposta di Registro» - tax of the register (stamp duty) It is paid to the state at the moment of real estate purchase;
«Imposta Ipotecaria» - hypothecary tax It is paid to the state at the moment of registration of the real estate and for property rewriting in the Register of proprietors;
«Imposta catastale» - cadastral tax It is paid to the state at the moment of real estate inventory in public registers of the real estate;
«IVA» - value-added tax (VAT) The tax which pay to the state at purchase of the real estate at the building organisation or other legal person.
IN A CASE IF YOU BUY THE INHABITED REAL ESTATE FROM THE BUILDING COMPANY (THE PRIMARY MARKET OF NEW BUILDINGS): 1. tax of the register (stamp duty) - 168 €
2. hypothecary tax - 168 €
3. cadastral tax - 168 €
4. VAT = 10 % from the sale price (20 % on the magnificent real estate, 3 % - if the real estate has cultural, archaeological or historical value);
Total: 10 % from the sale price + 500€
IN A CASE IF YOU BUY THE INHABITED REAL ESTATE FROM THE SECONDARY MARKET: 1. tax of the register (stamp duty) – 7 %
2. hypothecary tax – 2 % 3. cadastral tax – 1 % Total: 10 % from cadastral cost of the real estate In total additional payments on real estate registration in the property for any of purchase variants (from the primary or secondary market) taking into account services of the notary: 12-13 % from cost + the commission of agency of the real estate.
TAXES AND PAYMENTS TO THE GOT REAL ESTATE IN ITALY
After real estate acquisition in Italy you should pay annual taxes and services in the real estate maintenance.
1. ICI - the tax to property - 0,5-0,8 % from cadastral cost. It is the municipal tax and depends on the real estate location;
2. IRPEF – the tax to incomes of physical persons – in a case if property is leased – 30 % from the revenue of rent);
3. Working costs: an electricity, water;
4. The tax to dust export; 5. Expenses on drawing up of the declaration on payment of the tax to property.