The property purchase process in Italy
Droomt u regelmatig weg bij de gedachte aan een eigen woning in het prachtige Italië? Op z’n Italiaans; samen met familie en vrienden aan een lange gedekte tafel. Enjoying all the goodies Italy has to offer. Italy is one of the most beautiful and diverse countries in the world, which is reflected in Italian real estate. Whether you are looking for a large villa on Lake Como or a penthouse in the heart of Milan? Or are you rather looking for a typical Italian home in Tuscany?
You probably have no idea where to start. Een (tweede) huis kopen in het bella Italia gaat gepaard met rechten en plichten. Therefore, if you are not familiar with the Italian real estate market, it is wise to seek help from a professional. Een advocaat van Gimbrere Legal kan u door het gehele aankoopproces van onroerend goed begeleiden.
Step-by-step purchase process
Step 1 The proposal
In Italië ontkom je niet aan een zogenaamde Code Fiscale, a tax code. Similar to the Dutch Citizen Service Number. The Code Fiscale is issued by the Agenzia delle Entrate (the Italian tax office).
To apply for this Code Fiscale, you must ask for the form: “Domanda di attribuzione del Codice Fiscale.” A real estate specialist from Gimbrere Legal can help you with this. The potential buyer may then be asked to make a formal written offer to purchase the property. This step should not be thought of too easily. Before an accepted purchase offer becomes fully binding under Italian law, it is wise to seek legal advice.
The buyer may be required to pay a deposit between 1% and 5% of the price offered. Dit kan worden gezien als borg, ingehouden door de
broker to secure supply. Zodra de verkoper accepteert, wordt de koper op de hoogte gebracht door de makelaar. From this point on, the buyer’s offer is considered binding.
Stap 2 Het voorlopig contract
Step 2 is also known as “Compromesso” or “Contratto Preliminare“.
A contract is signed between buyer and seller, binding both parts to complete the transaction. The contract is usually signed at a notary’s office, which provides specific guarantees.
Step 3 The final contract
After the Compromesso, the notary will perform due diligence on the title, tie up any loose ends and prepare the final contract, the contract transfer of the title.
The final contract (better known as Rogito) is signed in the notary’s office, usually within three months of the preliminary contract, during which time he uses to make all the required checks.
This is a notarized deed in which ownership of the property passes from the seller to the buyer. On this occasion, the new owner usually receives the keys to his home.
The notary, usually chosen by the buyer, also pays the taxes on behalf of the client. Therefore, it should be emphasized that the notary’s fee includes not only his fee for services, but also the taxes to be paid.
After the deed (Rogito) is signed, it must be registered with the Agenzia delle Entrate (Italian tax office) to allow payment of taxes and filed in the public records.
So you may have to deal with many parties involved in this whole process. Such as surveyors, notaries, architects, legal and tax advisors. A professional from Gimbrere Legal knows the country, the language and knows how to deal with the business real estate world like no other. This way Giulia Gressani, Italian lawyer at Gimbrere Legal, will advise you in the purchase process.
Therefore, please feel free to contact us.