QUESTION 1 CAN I AS FOREIGNER BUY A PROPERTY IN ITALY?
Yes, it is easily possible as a foreigner to buy property in Italy, which then is keenly registered in the Land Registry (Catastro).
QUESTION 2 WHAT MUST BE CONSIDERED WHEN I PURCHASE THE HOUSE?
The purchase must be handled in each case through a notary. This also has to ensure that all parts of the property are legally built and completely registered in the Land Registry. To purchase, you have to apply for an Italian tax number in advance, which is submitted to the notary when buying. All payments for the acquisition of property can only be made by bank transfer or officially certified bank checks, cash of any sum over € 3,000.00 are not permitted.
QUESTION 3 WHAT COSTS DO I HAVE TO CONSIDER?
The buyer has to pay land tax on land and property on the acquisition. This is the case of land 18% in real estate 11%, but is not limited to the purchase price, but on the land cadastral value, which corresponds approximately to the German unit value and usually significantly lower than the purchase price. Furthermore the acquirer in the acquisition to pay the notary fees, which are in most cases from 2,000 € to 5,000 € and a commission in the event that a real estate agent is involved.
QUESTION 4 WHEN MUST BE MADE, AND WHICH PAYMENTS?
A deposit of 20-30% is to pay at the tie of signing the preliminary contract by bank transfer or bank check. The final payment, real estate transfer tax and notary's fees are payable in the same form as the notarization takes place.
QUESTION 5 WHO HELPS WITH THE RESTORATION?
A collaboration with Casa Bella Liguria offers the required work for the phase afterwards. We have many years of experience and contacts locally. Our long-term partner help with various services, among others as authorization procedures, construction and renovation, professional restoration or restore the original appearance, interior design, property management, rental marketing etc.
QUESTION 6 IS A FINANCING POSSIBLE?
A financing of real estate is possible in Italy, under certain conditions. For EU citizens Italian banks ask generally for a bank statement and proof of income / tax returns for the last 3 years. In the event of approval of mortgage Italian banks grant maximum currently 60-70% of the property value.
QUESTION 7 IS A HOUSE IN ITALY A SAFE INVESTMENT?
A property in Italy is a safe and stable investment. Both Italian law as well as EU directives ensure that each entity shall be registered in the land register and acquire an officially checked property. As Rental Property, the investment may also be worth double: a wise selected object guarantees more percent return. The house can be sold profitably and without speculation tax after 5 years (in Germany after 10 years) again. Talk to us, and for this we are professionals and we would love to advise you.
NEGOTIATION & DATE OF SALE
When the seller and the buyer have greed on the sale, date, and price, a preliminary
contract will be made, which has to include the land registry data and all ancillary agreements.
After signing the purchase agreement and the payment of the deposit the otarization will take place normally within 30-60 days.
TRANSFER OF OWNERSHIP & OFFICIAL REGISTRATION
For the official registration and transfer of ownership of property in the name of the buyer, the notary must ensure, according to Italian law, for the notarization and payment.