Latest articles
Categories
File archive
Tags
apartment for sale in Viareggio Tuscany apartment for sale Lucca Tuscany apartment for sale Pietrasanta Tuscany apartment Liguria Italy apartment with sea view terrace Apartment with sea view terrace for sale in Lerici Liguria Apartment with terrace for sale in Viareggio Tuscany apartment with terrace Lucca Tuscany apartments along ligurian coastline Apartments and penthouses for sale Viareggio Tuscany Apartments and penthouses with sea view for sale in Liguria Apartments and prestigious penthouse for sale Viareggio Tuscany apartments for sale in Liguria apartments for sale Tuscan Riviera Versilia Apartments for sale Viareggio Tuscany apartments in Lerici Liguria apartments in lido di camaiore Tuscany apartments in Lucca town centre Tuscany apartments in Lucca Tuscany apartments in Pietrasanta Tuscany apartments in Portovenere Liguria apartments in Viareggio Tuscany apartments with car park Viareggio Tuscany apartments with parking space Lucca Tuscany Apartments with sea view terrace for sale in Viareggio Tuscany B&B for sale in Tuscany beachfront apartment beachfront apartments Tuscan Riviera Bed & Breakfast for sale in Tuscany castles Tuscany country home for sale lunigiana Tuscany country home Ligurian Riviera country home sale in Tuscany Massarosa Country house and farmhouses for sale on the hills of Pisa Tuscany country house in Tuscany country house Lunigiana Tuscany country house Tuscan hills country house Versilia Tuscany country house with olive grove country house with sea views country house with swimming pool Tuscany Country houses and farmhouse sea view for sale in Tuscany Camaiore Country houses and farmhouses for sale in Lucca Tuscany Country houses and farmhouses for sale in Pietrasanta Tuscany Country houses and farmhouses for sale Massarosa Lucca Country houses and farmhouses sea view for sale Pietrasanta Tuscany country houses for sale country houses for sale in Lunigiana Tuscany Country houses for sale in Pietrasanta Tuscany country houses for sale in Tuscany detached house Forte dei Marmi Tuscany Estate for sale in Arezzo Estate for sale in Chianti Estate for sale in Chianti’s countryside Estate for sale in Florence Estate for sale in Lucca Estate for sale in Pisa Estate for sale in Siena Estate for sale in the countryside in Arezzo Estate for sale in the countryside in Lucca Estate for sale in the countryside in Pisa Estate for sale in the hills of Arezzo Estate for sale in the hills of Chianti Estate for sale in the hills of Florence Estate for sale in the hills of Lucca Estate for sale in the hills of Pisa Estate for sale in the hills of Siena Estate with vineyard for sale in the hills of Pisa exclusive apartment with sea views exclusive oceanfront villa Livorno Tuscany exclusive properties Lucca Tuscany Exclusive villa for rent in Forte dei Marmi Tuscany Exclusive villa for rent in Marina di Pietrasanta Tuscany Exclusive villa for rent in the center of Forte dei Marmi Tuscany Exclusive villa for rent on the hills of Versilia Tuscany Exclusive villa for sale in Forte dei Marmi Exclusive villa for sale in Versilia Tuscany Exclusive villa in Roma Imperiale for rent in Forte dei Marmi Tuscany exclusive villa Pietrasanta Tuscany exclusive villa viareggio Tuscany exclusive villa with sea views Exclusive villa with swimming pool for sale in Tuscany Exclusive villa with swimming pool for sale in Versilia Tuscany Exclusive villas for sale in Versilia Tuscany exclusive villas la spezia Liguria exclusive villas Tuscan Riviera exclusive villas Tuscany Farm for sale Pisa hills Tuscany farmhouse for sale in Camaiore Tuscany farmhouse for sale Lucca Tuscany farmhouse for sale Pisa hills Tuscany farmhouse for sale Tuscan coastline farmhouse for sale Tuscan Riviera farmhouse for sale Tuscany farmhouse in Pietrasanta Tuscany farmhouse Lucca hills Tuscany farmhouse Pisa hills Tuscany farmhouse Pisa Tuscany farmhouse to restore farmhouse with olive grove Farmhouse with pool for sale Lucca Tuscany Farmhouse with pool for sale Pietrasanta Tuscany farmhouse with sea views farmhouse with swimming pool Farmhouse with swimming pool for sale Pisa hills Tuscany farmhouse with swimming pool in Lucca Tuscany Farmhouses and country houses for sale in Pietrasanta Tuscany Farmhouses and country houses for sale in Tuscany Farmhouses and country houses for sale in Tuscany Camaiore Farmhouses and country houses with pool for sale in Tuscany Farmhouses and country houses with sea view for sale in Tuscany farmhouses for sale Lunigiana Tuscany farmhouses hills Tuscany Historic villa for sale in Lucca Tuscany Historic villa with swimming pool for sale in Pisa hills historic villas for sale historic villas Lucca Tuscany houses with swimming pool loft in Lucca town centre Tuscany Luxurious villa for rent in Forte dei Marmi Tuscany Luxurious villa in Roma Imperiale for rent in Forte dei Marmi Tuscany luxury apartment for sale in Lerici Liguria luxury apartment in Lerici Liguria luxury apartment in Liguria luxury apartment in Portovenere Liguria luxury apartment in Viareggio Tuscany Luxury apartments for sale in Viareggio Tuscany Luxury apartments for sale Viareggio Tuscany luxury castles Italy Luxury country homes for sale in Massarosa Tuscany Luxury country house or sale on the hills of Pisa Tuscany Luxury farmhouses and country houses for sale in the hills of Pisa luxury properties luxury properties Lucca Tuscany luxury properties for sale Cinque terre Liguria Luxury properties for sale in Forte dei Marmi Luxury properties for sale in Lerici Liguria Luxury properties for sale in Lucca Tuscany luxury properties for sale in Portovenere Liguria Luxury properties for sale Pisa on the hills Tuscany Luxury properties for sale Viareggio Tuscany Luxury property for sale Bocca di Magra Liguria luxury property for sale Lerici Liguria luxury property Lerici Liguria luxury property lido di camaiore Tuscan Riviera luxury property Pistoia Tuscany luxury property Siena Tuscany luxury property Viareggio Tuscany Luxury real estate for sale Bocca di Magra Liguria Luxury Real Estate for sale Costa degli Etruschi Tuscany Luxury real estate for sale in La Spezia Liguria Luxury real estate for sale in Liguria Luxury real estate for sale in Portovenere Liguria Luxury real estate for sale in Tuscany Luxury real estate for sale in Tuscany Massarosa Luxury real estate for sale Marina di Pietrasanta Tuscany Luxury Real Estate for sale Pietrasanta Tuscany Luxury sea view apartments for sale in Lerici Liguria Luxury villa for sale in Lucca Tuscany Luxury villa for sale in Marina di Pietrasanta Tuscany Luxury villa for sale in Pietrasanta Tuscany Luxury villa in Roma Imperiale for rent in Forte dei Marmi Tuscany Luxury villa with pool in Roma Imperiale for rent in Forte dei Marmi Tuscany luxury villas Luxury villas for sale in Forte dei Marmi Tuscany Luxury villas for sale in La Spezia Liguria Luxury villas for sale in Lerici Liguria Luxury villas for sale in Tuscany Massarosa luxury villas Forte dei Marmi Tuscany luxury villas Lerici Liguria luxury villas Liguria luxury villas Ligurian Riviera luxury villas Lunigiana Tuscany luxury villas pietrasanta Tuscany luxury villas Tuscan Riviera luxury villas Tuscan seaside luxury villas Tuscany penthouse for sale Portovenere Liguria penthouse for sale Tuscan Riviera penthouse Lerici Liguria penthouse Lucca Tuscany penthouse Portovenere Liguria Penthouse sea view for sale Viareggio Tuscany penthouse Viareggio Tuscany penthouse with sea view terrace Penthouse with sea view terrace for sale Viareggio Tuscany penthouse with terrace Lucca Tuscany Prestigious farmhouse for sale in Palaia Pisa Tuscany Prestigious homes for sale in Camaiore Tuscany Prestigious penthouse for sale in Viareggio Tuscany prestigious properties Prestigious properties for sale Forte dei Marmi Tuscany Prestigious properties for sale in Lucca Tuscany Prestigious properties for sale on the hills of Pisa Tuscany Prestigious properties for sale Viareggio Tuscany prestigious property Pisa hills Tuscany prestigious property Versilia Tuscan Riviera Prestigious villa in Roma Imperiale for rent in Forte dei Marmi Tuscany Prestigious villa with pool in Roma Imperiale for rent in Forte dei Marmi Tuscany Prestigious Villas for sale Forte dei Marmi Tuscany Prestigious villas for sale in Lucca Tuscany Prestigious villas for sale on the hills of Pisa Tuscany prestigious villas forte dei marmi Tuscany prestigious villas in Liguria prestigious villas lerici Liguria prestigious villas lucca Tuscany prestigious villas Tuscany properties in lucca Tuscany Real Estate agency Forte dei Marmi Tuscany Real Estate agency Viareggio Tuscany Sea view apartment for sale in Viareggio Tuscany Sea view apartments and penthouses for sale in Tuscany Sea view apartments for sale in Lerici Liguria Sea view farmhouse for sale Pietrasanta Tuscany Sea view villa for sale in Liguria Sea view villa for sale in Tuscany Camaiore Sea view villas for sale in Tuscany Seasonal rental Summer rental Tuscan country home Tuscan country house Tuscan villas with olive grove Villa for rent Villa for rent in Versilia Tuscany Villa for rent on the hills of Versilia Tuscany villa for sale in forte dei marmi Tuscany villa for sale in lerici Liguria villa for sale in Liguria villa for sale in lucca Tuscany villa for sale in marina di massa Tuscany villa for sale in Marina di Pietrasanta Tuscany villa for sale in massa Tuscany villa for sale in pietrasanta Tuscany villa for sale in portovenere Liguria villa for sale in the Apuan coast in Tuscany villa for sale in viareggio Tuscany Villa for sale with swimming pool Pietrasanta Tuscany Villa in Roma Imperiale for rent in Forte dei Marmi Tuscany villa lido di camaiore Tuscany Villa Roma Imperiale for sale Forte dei Marmi Tuscany Villa with pool and sea view for sale Bocca di Magra Liguria villa with sea views for sale in portovenere Liguria villa with sea views for sale in the Etruscan coast in Tuscany villa with swimming pool and sea views Villa with swimming pool for sale in Camaiore Tuscany Villa with swimming pool for sale in Forte dei Marmi Tuscany Villa with swimming pool for sale in Marina di Pietrasanta Tuscany Villa with swimming pool for sale in Massarosa Tuscany villa with swimming pool Forte dei Marmi Tuscany villa with swimming pool Lucca Tuscany villa with swimming pool pietrasanta Tuscany villas along ligurian coastline villas camaiore Tuscany villas Castiglioncello seaside Tuscany Villas for sale in Camaiore Tuscany Villas for sale in Massarosa Tuscany villas for sale Pisa hills Tuscany villas for sale Tuscan hills villas for sale Tuscany villas for sale versilia seaside Tuscany villas Forte dei Marmi Tuscany villas la spezia coastal town Liguria villas Lerici coastal town Liguria villas Lucca hills Tuscany villas Lucca Tuscany villas marina di pietrasanta seaside Tuscany villas pietrasanta Tuscany villas Tuscan countryside villas viareggio Tuscany Villas with access to the sea for sale in Lerici Liguria Villas with access to the sea for sale in Liguria villas with direct sea access Villas with pool for sale in Tuscany villas with private sea access Villas with sea view for sale Bocca di Magra Liguria villas with sea views villas with swimming pool Lerici Liguria
Purchasing a property in Italy: essential steps
General informations February 23, 2022 Broker Immobiliare

Purchasing a property in Italy: essential steps

8 essential steps to find your second home in Italy

 

Italy is one of the five best destinations in the world to purchase a second home. It captures interest from abroad with its splendid art cities, fantastic sceneries, small historic hamlets, its beaches, its sea, and its lakes.

Italy is becoming a reference point for high-income earners seeking a prestigious property, with European and North American buyers appreciating especially luxury lakeside villas, typical Tuscan farmhouses and estates with olive groves or vineyards, or prestigious properties by the sea in Tuscany and Liguria.

The timeframe to purchase a prestigious property in Italy can vary between 4 to 6 months. It is essential to get proper professional help from a professional real estate agency, such as Broker Immobiliare Exclusive Real Estate, with multilingual consultants such as construction experts, lawyers, asset management consultants or financial brokers in order to streamline the purchase process and guarantee its legality.

8 steps that will help you in your search and purchase process for your second home in Italy are listed below:

 

Step 1: web search for a professional real estate agency

You can find many locations and kinds of properties by searching online, thus setting an initial budget and narrowing down your list of properties that perfectly meet your needs.

Perusing the various Italian real estate portals and websites, you will find that the Italian property of your dreams may be listed by several agencies. Don't be alarmed – this is quite normal in Italy and will not affect your chance to buy the property.

Among several real estate ads for the same property, we recommend that you choose the ad from the real estate agency that seems more professional to you compared to other agencies, judging by simple criteria such as the quality of photographs, accuracy of data, and the thoroughness of the description. Moreover, you should also evaluate the professionalism of the real estate agency by their speed in responding to any of your requests, either by phone or by email.

 

Step 2: define you preferred area and type of property

Take your time to explore the pros and the cons of each geographical area while considering your needs, such as proximity to airports, main services, seas or lakes, hospitals or schools, etc. i.e., those services and attractions you need to have nearby.

Try also to understand which kind of property is the right one for you – an apartment, a penthouse with terrace, a modern or historic villa, a typical farmhouse, or an estate with lots of land with a vineyard or olive grove.

Furthermore, decide if you prefer a newly built or well-kept and renovated property, or if you are willing to manage renovation works – and to what extent to do so.

 

Step 3: planning home tours

While you can view the properties you’ve selected online through virtual tours, an in-person tour is always the best way to get an idea of the place.

First contacts with real estate agents – especially by phone – are especially important for the agent to understand your needs and your real estate research criteria.

Professional help from real estate agents in essential, as in some cases they will also provide the property’s exact geolocation as well as more details before visits are scheduled, as well as highlight the selected property’s pros and cons compared to your needs.

Once you have selected properties that interest you with your real estate agent, plan in advance your stay in Italy and schedule your visits, and allot necessary time to visit several properties, so that you can have time to get a feel both for the property and the surrounding area.

 

Step 4: open a bank account in Italy and apply for you tax code (Codice Fiscale)

If you decide to purchase a property in Italy, you will need an Italian bank account, which you must personally open. Before opening an account, you will need to obtain your tax code and have your identity documents with you (passport and ID card). You can apply for your tax code either at the Italian Embassy in your home country or at any Agenzia delle Entrate (Italian tax authority) in Italy. This code is essential for nearly ecery basic activity in Italy, including opening your bank account. You can rely on advice from Broker Immobiliare Exclusive Real Estate for these tasks as well.

Although it is not essential to open an Italian bank account, as you can rely on your Italian Notary, it is much more convenient and money-saving to have a bank account in Italy to manage your new second home.

 

Step 5: purchase proposal, preliminary agreement or “compromesso”

Once you have chosen the property of your dreams, the following are essential in real estate purchases in Italy: a purchase proposal drafted by the real estate agency or a notarized preliminary contract, also called “compromesso”.

In the purchase proposal, the buyer proposes the sale price, the timing of the various payments, and the final date to make the final deed of sale.

The proposal will also include other clauses which can suspend and terminate the contract, the most important of which are that the current owner has come into ownership through legitimate title deeds and that the property complies with the Italian urban and cadastral regulations, i.e., that the property has been legally built and can be legally sold.

At the time of the purchase proposal, proof of payment of between 10% and 30% of the purchase price must be attached as a commitment and confirmation of the purchase of the property.

While waiting for the various legal, administrative, and town planning / cadastral verifications, this amount will be kept by the Notary or by the Real Estate Agency as a security deposit (earnest money).

For this purpose, Broker Immobiliare Exclusive Real Estate, has its own bank account specifically for financial transactions for real estate.

Both the purchase proposal and the preliminary contract, or “compromesso”, are legally binding contracts. 

 

Step 6: property due diligence

The due diligence process must ensure that everything concerning the property is in order, that the current owner has come into ownership through legitimate title deeds, and that the property is conforming with Italian urban and cadastral regulations, i.e., that the property has been legally built and can be legally sold.

For these conformity reports, which the notary requires before the deed of sale, you can also hire a professional expert (“perito”), an architect, an engineer, or a surveyor. The price of these reports starts from about 1,000 euros + VAT and can increase depending on the size of the property. You can rely on advice from Broker Immobiliare Exclusive Real Estate for these tasks as well.

If you apply for a loan or for financing from a credit institution, the Bank's appraiser (“perito”) will also require the conformity report before approving the financing. Their appraisal is usually a basic estimate (valuation) to ensure that the property is worth the purchase price.

If you plan to renovate, add on to the property, or build a swimming pool after the purchase, the same professionals responsible for preparing the compliance report will be able to advise you on the feasibility of your future construction plans and possibly estimate a cost for the works.

 

Step 7: taxes, expenses, and real estate agency commissions

Aside from the price of the purchased property, there are other expenses to the borne, which can be summed up in three main points:

- The purchase taxes to pay to the Italian State though the notary, who will function as “tax substitute” (“sostituto d’imposta”). These costs can be exactly defined only after having chosen a property to purchase, as they vary according to the application of certain parameters such as the cadastral income of the property and its land, which differ from property to property. Costs also vary depending on if you purchase the home as main residence or as a holiday home. Variations also depend on if the property is sold by a private individual or by a company.

- The notary's fees which, for a property worth one million euros, can range from 3,000 to 5,000 euros plus VAT. In the case of a double notarial deed – preliminary agreement and final deed – the above prices do not double, but will still increase, as two separate deeds will be drawn, just like drafting an additional deed for the loan or financing with the bank.

- The real estate agency commission for brokerage can range from 3% to 6% of the purchase price, as well as applicable VAT.

One you have chosen a property that interests you, Broker Immobiliare Exclusive Real Estate will be able to draw up a quote detailing all these costs. Moreover, our team will translate all documentation, including notarial deeds, which will be in two languages for foreign buyers.

 

Step 8: the final deed of sale, “rogito”

Lastly, one the validity and legality of the purchase have been guaranteed, you can sign the final deed of sale, or “rogito”, with both the buyers and sellers appearing before the notary. This is the final contract, and you are now the legitimate owners of the property. You are now required to pay a purchase tax, notary fees, and real estate agency commissions.

 

If you are seeking a multilingual team of true professionals who firmly believe in the success of each endeavor, striving for high-quality every day, check out our professional services and contact us to purschase a property in Italy.

 

Broker Immobiliare Exclusive Real Estate

Linked properties
CONTACTS
Please leave your request and you will be contacted within 24 hours
Whatsapp
Leave a message
Leave a message _