The buying process
Annual Taxes
Tuesday, August 19th, 2008Just as in any country, once you own a property in Italy you become liable for ongoing taxes. How else can the local authority provide services? Yet many foreigners think that because they are not resident and don’t pay tax on their income to the Italian authorities that they are somehow excused from paying. This [...]
Italian Tax Code (Codice Fiscale)
Tuesday, August 19th, 2008Something you must have before you can even sign a preliminary contract is a Codice Fiscale. This is a national tax code and you need it for buying a house, a car, taking out contracts for utilities and many other services. Having a codice fiscale does not mean that you become liable for Italian income [...]
Holiday or Viewing Trip?
Monday, August 4th, 2008If you are serious about buying a property in Italy it is pretty obvious that you have to physically see those places that are of interest to you. But don’t make the mistake of trying to view during August! There are many reasons, the main ones being:
1. It is too damned hot! Most people do [...]
Buy a House in Italy - Step 1
Monday, June 9th, 2008The procedure for buying a house in Italy is not comparable with what you will be used to if you are from the United Kingdom, Eire, USA, Canada and most northern European countries. Basically, if Napoleon never invaded your homeland, the purchase of your Italian house will be a new experience. Here is the process [...]
Buy a House in Italy - Step 2
Monday, June 9th, 2008The Contratto Preliminare
Once your mind is made up and the price agreed you will be required to sign a Contratto Preliminare (preliminary private contract) and pay the statutory deposit. This agreement between buyer and seller states the price, the date for completion, what is being bought and sold, and also includes various guarantees from the [...]
Buy a House in Italy - Step 3
Monday, June 9th, 2008Estate agency fees, payable by both the buyer and seller, are also payable with the signing of the contratto preliminare. It sometimes comes as surprise to buyers who come from countries with different customs that they have to pay the agency. Remember you are buying a house in Italy, not anywhere else, so why should [...]
Buy a House in Italy - Step 4
Monday, June 9th, 2008Completion takes place before a Public Notary (Il Notaio) and his (or her) involvement is indispensible. Basically a government official, the Notaio witnesses the transfer of title from one party to another and collects the taxes due on the transaction. Contrary to popular belief the Notaio does not act for both parties; he acts for [...]