As soon as the Italian property to buy is chosen, the parts are to start a buy/sell procedure. Real estate purchasing in Italy is the subject of legal regulation. The property can be entitled as to a private person so to an established company. And first of all one must obtain an Italian tax code (Codice fiscale) and open a bank account in an Italian bank. Obtaining Codice fiscale is not complicated and possible even you are not in Italy but, of course, Santini Gruppo Immobiliare provides all necessary support.
Buying a property: what to expect
The process will lead to the day when payments of money and change of ownership will actually take place, less the deposit that one might have paid in advance. The procedures involved in the completion are called Rogito, and take place in a Notary Public’s office. Both buyer and seller will listen to the Notary Public Officer reading all acts involved and then signatures will be placed on all relevant pages and payments made in the form agreed in advance. In brief, exchange of contracts and money happen in the day of Rogito.
Previous to the Rogito, the buyer will have formalised his/her intention of buying, through a document called Proposta Irrevocabile di Acquisto; This is a binding agreement showing the sum that the buyer will be willing to pay, with a deposit towards the purchase. If the buyer finds this acceptable, and of course he/she will, after the appropriate negotiations supervised by the estate agent, the date for the Rogito will be set at a convenient date for all. This proposal is commonly referred to as a Compromesso ( = committal, as after this, the buyer and sellers are considered committed).
If you don’t speak the local language, Santini Gruppo immobiliare will be present at all stages for translating and interpreting.
Notary Publics cost money. As well as various taxes or procedures required by law. As a rule of thumb, be prepared to pay out in total more than the asking price just to meet the legal requirements as well as agent’s fees.
The level of this extra costs will vary depending on the type of property, whether there is also land involved in the sale, and on whether the buyer will be resident in that property, or if it is only going to be a holiday place. Expect an additional 10% of Reddito Catastale if this not to be your residing home. In case of residence, or the property being defined First Home as a result of residency, the added tax will be 3%.
Reddito Catastale is NOT THE MARKET PRICE, but a much lower price declared in the Registry Office, in Italian known as CATASTO. The nearest concept in Anglo-saxon terms is Insurance Value.
Each object for sale will have an accurate estimate provided, but remember, it remains an estimate, as each Notary Public have their own fees, and the estimate only applies to THAT particular one.
Taxes after buying
ICI tax; this is the tax you pay to the local council for owning the property and benefiting from the local services, such as policing, road repairs, lighting etc. You will be, however, exempt if the property can be classed as your First Home, which means you have to register as resident in that property in that particular council and actually live there. The amount varies according to the declared cubic meters as shown in the documents officially deposited with the Catasto (the land registry office). Compared to local taxation in other European countries, Italy’s costs remain reasonably contained. However, you must pay also in your absence.
TARSU tax; it’s the rubbish collection and disposal tax. It’s calculated also by the number of people living in the property, as well as by the type of property. Expect 300-400 Euros, approximately, per year. The tax applies even if you are away from the property.
Consorzio Bonifica; it’s your contribution to the domestic water supply costs and the maintaining drains and pipes. The amount is small, but it must be paid.
If you buy a flat, you share property in common with the owners of the other flats in the same building. As a result, you will have to contribute to cleaning and occasional repairs costs.
Your share will depend on the size of your property there, what floor it is at, etc.
This costs are never too high, unless some urgent structural works became necessary, and generally fall in the region of around 50 euros a month.
Regular condominium meetings are held where decisions are voted in when required.
Sailing Race (Regate di Barca a Vela)
Italian championship on Sailing in Punta Ala.
Where: Punta Ala, Grosseto (Punta Ala, Gr)
Trout Holiday (Sаgrа della trоtа)
This holiday combines the useful with the pleasing
Competition in fishing the trout, followed by cooking the catch!!!
Competition winner will be awarded the prize "Golden trout"
Where: Loro Ciuffenna, Arezzo (Socorro Beach Ciuffennа , AR)
International festival of ceramics (Festa internazionale della ceramica)
Ceramic art, the origin of which goes back to the beginning of 15th century is an important part of the history of Montelupo Fiorentino which was famous for manufacture of majolica (a type of ceramics made of burnt clay with use of painted glaze) for noble Florentine families. All 9 days you can enjoy the art of potters and artists and observe a variety of pottery for all tastes. Within the framework of the festival the inauguration of the Museum of Modern Art and the Exposition of Nanni Valentini works, presented by 30 works of the artist (pictures, sculptures, the pottery of fifties-eighties of the last century) will take place.
Where: Montelupo Fiorentino, Florence (Montelupo Fiorentino, Fi)
Europlà International Festival (Festival internazionale Europlà)
International Festival of comedy, puppet and street performances. You will enjoy an unforgettable evening show with the participation of Italian and foreign artists. Free entrance.
Where: San Giovanni Valdarno, Arezzo (San Giovanni Valdarno, AR)
Fish Festival (Sagra del pesce)
This Festival is for all fish lovers and connoisseurs of fish dishes that abound in Italy
Where: Ceretto Guidi, Florence (Campo di Tamburello in località Bassa, Ceretto Guidi, FI)
Hunger and Thirst Holiday (Festa della fame e della sete)
This gastronomic event held in the historic centre of the city with a varied musical background will help you quench the hunger and thirst. Here you can learn about, taste and buy the typical gastronomic specialities of Lunigiana.
Where: Filattiera, Massa Carrara (MS, Filattiera)
Antiques Fair (Mostra mercato dell'antiquariato e dell'usato)
We invite all lovers of antiques and collectibles to visit the exhibition and sale of Antiquities.
Where: Republic square, Londa, Florence (Piazza della Repubblica, Londa, Fi)
Medieval Festival in Meleto Castle (Festa medievale al Castello di Meleto)
Jugglers and Jesters, artisans and standard-bearers are the main heroes in the halls of the old Castle of year 1256, located on a high Hill in the heart of Chianti, not far from Siena. Tasting of the best wines and traditional dishes of Chianti.
Where: Gaiole in Chianti, Siena (Gaiole in Chianti, SI)
Reopening of Dante Alighieri's House Museum (museo del Riapertura casa di Dante Alighieri)
Dante is back home! Dante Alighieri's House-Museum finally openes after three long years of furniture restoration and reconstruction of the original documents after the fire.
Where: Florence (Firenze)