Buying a house in Italy

Step 1- The right agent
Step 1- The right agent

Edilfin agents have extensive knowledge of the area and collaborate with other agencies and professionals in order to be able to offer the buyer who trusts all the solutions available on the market. In addition, your trusted agent will carry out mortgage, land registry and urban planning checks to help you understand if the house you have chosen complies with the regulations and is free from foreclosures and liens of any kind. Your agent will also help you in obtaining an Italian tax code, which is used to uniquely identify individuals residing on the Italian territory.

Step 2 - The proposal
Step 2 - The proposal

When you find the property you like, your agent will prepare a purchase proposal for you. This will have to contain

  • The identification data of the property;
  • The sales guarantees, that is the cadastral aspects, the non-existence of hidden defects and the confirmation that all taxes relating to the property have always been paid;
  • price, methods, timing and terms of payment. For example, it can be specified that the proposal is subject to the loan. What does it mean? It is a clause that cancels the obligation to buy and sell if the aspiring buyer, who does not have all the necessary liquidity, is not granted the loan by the bank.

The proposal is always accompanied by a deposit, usually equal to 10% of the price offered, this deposit can be; pay with a check made out to the owner and kept by the agency or with a guarantee transfer made directly to the account of the chosen agency or notary.

If the owner does not intend to sign the proposal he will have to; return the deposit to the buyer, who will evaluate whether to change the conditions initially proposed or whether to search for a different property.

If, on the other hand, the owner accepts, the proposal becomes a preliminary sale and the deposit will come; paid to the owner becoming a deposit and sealing the deal. At this moment the right to commission accrues to the real estate agency. The administrative department of the agency at this point will help you & agrave; in the registration of the proposal, in the choice of the notary and in all the paperwork necessary to arrive at the deed.

What happens if, after signing the proposal, the buyer changes their mind? It all depends on the type of deposit. In the event of a penitential deposit, in fact, the dissolution of the contractual bond will result in & agrave; only that the sum paid is lost (in practice the penitential deposit represents the consideration for the right of withdrawal).

In the event of a confirmatory deposit, however, the buyer will be able to; to free oneself from the commitment assumed with the proposal only by obtaining the consent of the seller: therefore losing & agrave; the deposit and will be exposed; also to further claims for compensation for any damage suffered. If the defaulting party & egrave; the one who received the deposit, the other party can; withdraw from the contract and demand compensation equal to double the deposit paid.

Step 3 - The actual change of ownership
Step 3 - The actual change of ownership

It will be done before a public official, who will verify the truthfulness and completeness of the documents in order to guarantee and protect the parties. It is a notarial deed, that is a public deed drawn up in writing by the Notary (a public official who by law must be super partes and therefore protect the parties equally) with the formalities required by law; the choice of the notary is usually up to the buyer. If the buyer does not know the Italian language, the deed will be drawn up in two languages, the Italian one and in the mother tongue of the buyer. The sale has costs, which can vary greatly depending on the type of property you buy and who sells it. Your trusted agent will provide you with a quote which will then be finalized by the chosen Notary.

Management fees

Opening a bank account: & egrave; useful to have a bank account in Italy both because & eacute; makes the payment procedures more & ugrave; slender both because & eacute; will be necessary for the bank domiciliation of utilities (also in this case you have to worry about anything, we will evaluate together the best bank for your needs and together we will open the bank account);

Condominium fees: if you buy an apartment inside a condominium you will have to pay an amount that will vary; depending on the square meters. of the apartment and the services offered;

IUC (to be paid to the Municipality): includes the tax on the property, on waste and on the services that the citizen benefits from; each Municipality decides the amount within parameters dictated by the Italian State. Also in this case, once the property has been identified, we will be able to give you the amount due annually. (it is made up of the Imu (you pay on the basis of the cadastral income), of the Tari: (waste tax and is calculated on the square meters of the house and on the number of occupants of the house) and by the Tasi (it is paid on the basis of the cadastral income and it concerns all the services the citizen benefits from).

Utilities: electricity, gas and water.

Additional services

The agency will help you
The agency will help you
  • in the activation of water, electricity, gas, internet and telephone users;
  • in obtaining a mortgage (for foreigners, maximum age of the applicant at the end of the loan is 75 years; Financing up to 60% of a loan in value; Maximum duration of the loan 20 years;
  • Installment / income ratio 30% maximum);
  • legal and contractual assistance;
  • tax assistance;
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