a Property in Italy
What to expect;
The buying of a property
in Italy is actually easy and straightforward and although the Italian
legal system is bureaucratic it is very simple to understand.
The following is a summary
of of the procedures when buying in Italy.
When a property has been
selected and a price agreed, a Compromesso or preliminary
Contract is drawn up and signed. A Geometra will then
carry out all the searches on your behalf.
This is the Prelimary
Sales Agreement and states:
full price paid for the property in question
deposit (which is negotiable, but is usually 20% but can be as
much as 40% of the property price)
- Who is buying and
who is selling.
Stamp Duty –
Imposta di Registro
There is no stamp duty
threshold as in other countries, and you will therefore be required
to pay at the appropriate rate. If the property is purchased from
an individual, the rate is 11% of the government valuation. The
value of the property assessed is not the purchase price itself,
but the figure assessed by the local
tax office from official tables.
- Land Registry
Fees. The fees of the Property Registry for registering
your scrittura in the register will be assessed on a scale fee
according to the value.
Fees. A fee is charged by a notary to prepare and legalise
the scrittura. This is also a scale fee based on the declared
- Agent Fees.
UNICASA PROPERTIES (UK) LTD (UK) will charge you 3% for the service we
provide. This commission is payable on or before the date any
monies are paid to the Vendor.
This is the final contract
(completion). This usually takes place in the presence of a Notary
Public 2-3 months after the signing of the Compromesso. Property
in Italy is sold via a Notary Public whose duty it is to guarantee
title to the incoming purchaser, by first checking to make sure
that the property is free from liens and encumbrances. Once the
ROGITO is signed, the buyer consigns to the seller the balance of
the payment. Most of our buyers also use the services of an English
speaking Italian lawyer who has a vast experience in property sales.
Incurred when buying
Total costs, on average,
should not exceed 12% of the purchase price and include purchase
tax, stamp duty, the Notarys fee, fees for the geometra and
One of the strange idiosyncrasies
of buying a property in Italy is that the purchase tax which is
calculated by the Notary using official tables is based on a declared
value of the property as opposed to the actual purchase price. The
declared value is based on calculations made by the Land Registry
and is official. The declared value can be as much as 50% or 60%
less than the actual price youve paid. The Notarys fee
is also about 2% of the declared price.
contact us if you would like further information
about any of these properties
or details of our services.
UNICASA PROPERTIES (UK) LTD
Worlds End Studios
132-134 Lots Road
London SW10 0RJ
Tel: +44 (0)20 7924 4031