Buyer’s Guide

How To Buy Property In Italy
The process for buying a property in Italy is relatively straightforward and can be hassle-free when working with a qualified and officially registered real estate partner like The RE/MAX Collection Luxury Lakeview.

First steps
Buyers should provide a formal written offer to purchase the property and will be requested to put down a deposit to secure it.
Once an agreement has been reached, the preliminary contract, or “Compromesso”, can be drafted.
The “Compromesso” does not transfer the title but sets out all the details of the sale and gives the seller time to gather any necessary documents and vacate the premises prior to the agreed closing date.
Usually, a deposit of 15 / 20 per cent of the purchase price is exchanged by the buyer (who must have an Italian tax code) at the “Compromesso”, a process dealt with by a notary who registers the transaction.

Following the “Compromesso”, the notary, who is independent in the process, undertakes a title search and prepares the final contract.
Buyers may claim back twice the deposit paid if the vendor withdrew without a legitimate reason but in the same respect, a buyer would lose their deposit if they withdrew without a legitimate reason.
The final contract signing is witnessed by the notary. The purchaser then pays the outstanding balance as well as any other fees and taxes, and the notary pays stamp duty and other purchase taxes to the government on the behalf of the buyer.

Taxes and charges
Prospective foreign home buyers should expect to spend approx 10 per cent of the purchase price when buying property in Italy in additional costs.
This is a combination of agent fees, property taxes, sales taxes  and notary fees, as well as any potential extra costs, such as translation of documents, if required. 

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