Some necessary steps for buying property in Italy with the estate agency Riviera Italiana
Having made a decision for buying property in Calabria you have to face to the question: What steps are necessary to make your dream true and buy an apartment in Scalea, a villa in the south of Italy, a piece of land to be a landlord or commercial property in Calabria?
Here is a particular instruction with consequence of steps and complete explanation of actions prepared by the agency Riviera Italiana. It shows you what , how and why you need to do the following.
Buying estate property in Italy. Stage 1
Buying estate property in Italy. First of all you need to make a proposal for buying. As soon as Buyer has made his final choice and positive decision, the agency makes document with specific details of the deal:
- location of the property
- price and other characteristics
- terms and deadlines of payments
At the moment of the stage Buyer has to confirm his intention to buy the property and sign the cheuque with the sum of advanced payment. However, buyer doesn't have to make a real payment at the moment. Italian estate agency gives information about the proposal to seller and if there is an achieved agreement with terms of the deal the seller has to sign the paper and gets the sum of advanced payment.
The property object is going to be taken away from sale. In case if the owner of property in Italy makes an offer to change some terms the buyer could accept or refuse the new terms of the deal and take back the cheque of advanced payment and keep on seeking a proper object of property in Calabria. Remember! It is important.
Making a proposal means some responsibility. It must be a seriously made decision. If seller makes an agreement on proposal but buyer changes his mind unexpectedly and refuses the buying in this case the advanced payment is not paid back to buyer.
Buying property in Italy. Stage 2
That is supposed to be the time of making of pre contract. When both sides have signed the proposal the agency prepare the text of pre contract that must be signed by buyer and seller. Now the buyer has to pay about 10-20% of the total sum of the deal and advanced payment as well. What is more, buyer has to pay the service of the agency.
After that buyer receives exclusive rights for buying estate property in Italy, Calabria. The period from the first payment to final deadline of the deal takes 30-45 days. During this time buyer has to make payment to seller or has to collect the sum on account in a bank in Italy. Buyer has to have some extra money to cover the expenses for making estate object into property of a new owner. (the information about extra additional expenses is attached below).
Buying property in Italy. Stage 3
It is supposed to be a final contract. When all the necessary papers have been signed an independent expert makes the price for the estate property object. Both sides (buyer and seller) and a representative of the agency have to arrange a meeting at solicitor 's and sign the final contract there. The contract gives the right of private property from seller to buyer. The seller receives the cheuque for the rest of the sum.
Remember! Lawyer support, any information changes about the owner of the estate property in register are expenses paid by buyer.
After that a new owner gets keys and a copy of the document. Then state registration of the final agreement in the department of property takes about 35-45 days.
This procedure does not need a new owner to be present. As soon as the contract has been registrated a new owner gets the official confirmation for right of private property in Italy.
Additional expenses for taxes, communal bills and etc
Payment for service to the estate agency depends on the price of property object. It is discussed at the beginning of the deal. Also, the work of an interpreter or a translator and transport expenses for showing around the most interesting property objects in Italy.
Payment for juridical support and accompanied help depends on how complicated the deal is and the price of property. The more the price is the lower percentage.
Taxes are paid by buyer:
- Buying property from constructing company.
- 10%from the price.
- Mortgage tax 168 EUR information for registrated property
- Cadastre tax 168 EUR
- Juridical operating on paper 168eur.
The price altogether - 10% of total deal and 504 EUR.
- Buying estate property (second market) in Italy
- 7% paper work
- mortgage tax 2% of price.
- cadastre tax 1%of price.the total price 10% of price and juridical service and payments.
Annual taxes in Italy
- Municipal property tax (regulated by municipals' so may be different in regions).
- Communal service's:
a) electricity ( there may be 2 variants. When nobody lives in a villa, house or an apartment in Italy a fixed price is paid. When somebody lives you have to pay a fixed price and the bill.
b) water (the bill).
c) litter and garbage depends on the territory.
Visa
The owners of property in Italy have Schengen visa for 180 days.