Purchasing

Buying a property in Italy

Preliminary purchase agreement”: buyer and seller reach agreement on everything that’s going to be stipulated in the deed of sale in the presence of the notary.

In order for the “Preliminary purchase agreement” to be effective and binding on both parties, the buyer needs to pay a  “confirmation deposit” amounting to 20-25 % of the property’s value.

“Your Domain Domani” will ensure that all documents are valid, so as to guarantee the buyer that the property to be purchased complies with all legal and statutory  requirements.

The agency commission + VAT has to be paid by both buyer and seller upon stipulation of the “Preliminary Purchase Agreement”.
The next stage is the stipulation of the final deed of sale before a notary (whose fee shall be charged to the buyer), who then registers the sale in the “Conservatoria dei beni immobiliari” (Land Register).
The VAT, to be paid on the property at the time of stipulation of the purchase deed before the notary, shall be calculated as follows:

1st property owned within the borough: 3% of the cadastral value of the property (the buyer has to effect residency within 18 months of the purchase date).
2nd property owned: 10% of the cadastral value of the property.