Domus Vivendi will help you throughout the process including finding a suitable lawyer.

1. Making an offer

We start the buying process by making an initial offer on your behalf. If you see a property you love and don't want to risk losing it, for instance, you may need time to organise the initial 33% of the total price payable at Compromesso (see below) you can immediately sign a Proposta irrevocabile d'acquisto - an irrrevocable purchase agreement - which is signed by the buyer and seller. This agrees the price, names both parties, the property in question, and gives an expiry date for signing the Compromesso. On signing a deposit of approximately 10% (this can vary) of the agreed price is paid [either held by the agency, returned to you when you sign the Compromesso, or,cashed by the vendor and used as part payment for the property].

If you change your mind at this stage, you forfeit the deposit, as the owner will have effectively taken the property off the market for a certain period of time. If the sale does not go ahead on the specified date through no fault of your own, then your deposit will be returned to you. When required, we can arrange, for a surveyor (Geometra) to organise a survey on the property and carry out the necessary searches.

2. Compromesso

The preliminary contract (Compromesso) commits both parties to the sale. This contract establishes the terms and conditions of the final contract (Rogito) and details price, date for completion, the nature of the property, any guarantees from the vendor and includes other relevant legal details.

You will be expected to pay a deposit at this stage (Caparra),usually set at 33% of the purchase price. It is important to note that if you withdraw from the sale after signing the Compromesso, you lose your deposit. However, if the seller withdraws, he must repay you double your deposit.

3. Rogito

This is the final stage of the process and transfers ownership of the property from the vendor to the buyer (usually 1-3 months after the Compromesso). The document is drawn up by a Notary, (Notaio) who represents both parties. The buyer, vendor and estate agent are all normally required to be present for contract signing at the Notary's office. If the buyer cannot sign the Rogito in person we can appoint a Power of Attorney in your absence. You will be expected to transfer funds to the vendor and the Notary at this stage - we advise the best way of transferring funds to your Italian account in time for the Rogito is either via Swift from your own bank in the UK or by using a specialist currency dealer, which may be able to offer you a better rate of exchange.

Special Power of Attorney

A power of attorney agreement is emailed to you. You need to print it off and sign it in the presence of a solicitor. You then need to send or take it to the Foreign Office to have it ratified with an "Apostille" and then send it back to Italy. We can then sign the Rogito on your behalf without the need for you to come to Italy.

To find out about an Apostille check http://www.apostille.org.uk .

As well as paying the balance for the property, the buyer must also pay:

 

Purchase tax - When it comes to the purchase of property in Italy, a foreign national must pay an 11% purchase registration tax after the sale itself is consummated. An Italian citizen must only pay a 4% purchase registration tax (If the buyer purchases the property as his first residential home in Italy and applies for residency in the local area they also pay 4%). Please note the tax is calculated on the declared value of the property and not the purchase price i.e. on the value stated in the building registry. The declared value of land is extremely low, unless it is valuable land such as olive groves or building land.

 

Notary fee - payable when you sign the final contract

 

Surveyor fee - the Geometra will check:

• all property documents are up-to-date and legal
• buildings have fully registered title
• the house complies with all planning regulations.

 

This fee is also payable when the final contract is signed. Some Notaries liaise with a Geometra directly enabling you to pay one fee directly to the Notary.

 

Running costs of your property will include:

 

Annual Tax - The Imposta Comunale Sugli Immobili is an annual council tax calculated on the value of the property. It is payable twice a year in June and December. By arrangement sometimes non-residents can pay once only in December.

 

Rubbish tax - payable either in one or four instalments.

 

Utilities - electricity, water, gas, telephone (if required)

 

Condominium expenses - when buying a property which is part of a group of properties sharing some communal areas - gardens, driveway, swimming pool, tennis court etc. - then you will be required to pay condominium expenses or a service charge.

 

The easiest way to pay most of these charges is by direct debit although some will require settlement at the Post Office [Ufficio Postale].