Who has to pay the commission to the real estate agency and what are the costs of commission ?
In Italy, the real estate agent is due the commission both from the seller and from the buyer.The percentage of the commission is calculated on the purchase price and depends on local customs and practices (it's regulated by the local Chambers of Commerce). In Piedmont it can be summarised in 3% at the expense of the seller and in 3% at the expense of the buyer, to this must be added the VAT (government tax) of 22%; the total cost for commission is therefore 3.66% for the seller and 3.66% for the buyer.
What are the additional costs in buying a property italy, in addition to thepurchase price and agent’s commission?
It is necessary to pay the imposta di registro tax (and some other smaller taxes) which amount to about 10% of the cadastral (registered) value of the building (which is usually lower than the market price). If the building is purchased as a
Is it possible to obtain a mortgage from a bank?
Yes, it is possible but there are some conditions. If the applicant is resident in Italy and receives income in this country, the loan may be granted up to about 80% of the value of the property to be purchased. If the applicant is not an Italian resident and does not receive any income in Italy, the mortgage may be granted up to about 50% of the value of the property. Mortgages can also be obtained for renovation works. Individual Italian banks will apply specific conditions, so this information is indicative.
Which documents are necessary to buy a property in italy?
You will need an identity document (Italian Identity Card or Passport), as well as a ’codice fiscale’. This is an individual identity code used for tax purposes and all legal transactions in Italy. Both Italian citizens and foreign nationals require this code. Again, we can assist in your registration for this.
If i have to renovate the property, can you help?
Of course. Over the years we have managed a large number of renovations. We manage the whole project- we coordinate the work being done by specialist builders and local artisans and keep you in touch throughout.
Can you help us rent a house, book a relais or a bed & breakfast for a holiday, to learn more about the area while we look for a property?
Yes, we have lived all our lives in southern Piedmont so we know the area very well and can suggest the most suitable places to stay and the best areas to research.
How easy is it to install a swimming pool?
This is relatively straightforward but will require planning permission. As part of our total service we will obtain this and instruct reputable pool suppliers to carry out the work. We will obtain relevant quotations and our team will oversee the project during the building process.