At our Office located in Florence in the very central Via Tornabuoni
15, we offer personalised, independent and tailor made service
for second home buyers and facilitate the experience of buying
in Italy in a bilingual team sensitive to the specific needs of
the international client buying in Tuscany.
For a selection of some of the best properties available on the
Tuscan market visit
our property page.
HOW TO BUY REAL ESTATE & PROPERTIES FOR SALE IN ITALY
As one of the premier estate agents in Italy, we at Sabini & Associates
have had plenty of experience in handling Italian properties for
sale and we can offer helpful advice on how to buy property in
Italy. So without further ado:
How to buy a property in Italy
Property ownership can be acquired through a written or notarised
contract. Usually, the sales process consists of two steps. First,
a binding pre-contract is entered into in which the parties agree
to enter the final sales contract and which already contains all
elements of the final agreements. The pre-contract may be preceded
by a binding formal offer to buy. Within 20 days of this pre-contract
being signed it needs to be registered at the Agenzia delle Entrate,
the official Italian estate agency responsible for the registration
and payment of appropriate taxes and fees.
Usually, a deposit (20% to 30% of the purchase price) is made
at that time. Prior to that, buyers should verify formal ownership,
past payment of property taxes and the validity of building permits.
Ownership of the property is transferred through a notarised sales
contract or notarisation of a prior private contract. Subsequently,
the sale is registered with three different public registers.
The completion of the entire process is finalized in front of
a Public Notary who is, as a government official, an impartial
guarantor for both buyer and seller that all taxes and dues are
fully paid and that any mortgages remaining on the property have
been proved.
Associated costs may include notary fees and property purchase
taxes (approx 3% to 10% for private individuals, and 4% to 20%
for corporate entities). Commissions of real estate brokers vary
but will mostly be based around 4% of the purchase price for sellers.
The buyer of the property pays a commission of approximately 3%
of the purchase price.
For more information on this and other issues relating to property
and real estate for sale in Italy, as well as for a comprehensive
list of such properties on offer, contact us at info@splendidtuscany.com
for more.
