Buying your house with Abruzzo.House
Choose your property
A.H specialises ... Our agency will organise viewings all over Abruzzo to see suitable houses so that you have the most complete choice of properties to choose from.
Putting in an Offer
An offer needs to be accepted. Offers are not legally binding unless they are in writing and signed.
To take the house off the market you need to leave a deposit of Euro 1000 with the agency to show you are serious. It will stop the agency from marketing the property but does not legally bind the seller to sell and the buyer to buy.
Should the seller pull out or the sale does not go ahead for no fault of the buyer, the Euro 1000 deposit is returned.
You will need to organise a tax or fiscal code and an Italian Bank Account before you can finalise the deed.
Survey on the property
You may wish a survey and we can recommend a professional, registered and independent surveyor who speaks English.
A preliminary contract - compromesso - may be drawn up. Both the buyer and seller sign the contract which it is legally binding, so with that contract the buyer has to buy and the seller has to sell. Money exchanges hands via a bank transfer or wire. Any terms can be added as long as the other party agrees to them, this can include payment terms, pre-sale maintenance etc.
Documents are collected and analysed by the Notare and the Notare confirms they are correct and legal. If the documents are accepted by the Notare then they are explained to the buyer.The Notare will calculate the cost of his service and the tax that is needed to be paid by the buyer.
A date is set for the final signing which is agreed by all parties.
Both the seller and buyer meet with the Notare and translators, the deeds are signed and a bankers draft given to the seller. The house is yours!
There are two types of cost involved with your Italian house, one-off purchase costs and annual taxes / costs.
To purchase a property you need to pay three things, the Notare, sales services and the tax man. The Notare will probably take between Euro 1500 and Euro 2500 per sale. For services related to the sale (fee, setting up bank account, tax codes and translation) the cost will be 3% of the offer value with a Euro 3000 minimum fee. For tax (stamp duty), you pay a percentage of the registered value of the house. If you plan to be a resident you pay 4%, if it is a second home you pay 10%.
Annual ownership costs are relatively little. You pay fixed charges for utilities (electricity, water and gas which is circa Euro 100), there is rubbish collection (circa Euro200 - based on the size of the house) and there is council tax (IMU which is circa Euro 800 based on value and location).
All of the above costs are approximations and exclude IVA (VAT).
Estate Agent offers a wider choice of properties and organises the parties and complicated documents required to reach the final signing with a successful conclusion.
Geometra used to organise documents for a sale, paid for by the seller.
Surveyor important service for your peace of mind, you will understand more about your house and it gives you an independant consultant to ask questions. The more work the house needs, the more important a survey. This is not obligatory.
International Lawyers useful for your peace of mind. The laws are already very tight in Italy and the Notares (already present in the sale) are highly controlled and thorough.
Notare working on the State's behalf to make sure that the tight Italian property laws are respected by all parties. Highly regulated and controlled.
Translator working on the buyer's behalf and obligatory . They are important for the clear understanding of the procedure and for asking questions you may have.
Sellers They have the key and need to be present to sign documents unless they have left a power of attorney or proxy.
Buyers Need to study the map, plans of the house and plot reference numbers. Ask questions if there are any doubts.
Questions and Answers
What documents should I ask to see when buying a house?
Find your house on the Mappa Catastale. Identify all the land and property grid references that you are buying (particelle). Identify who is selling the property and ask to see the Visure to identify who owns the particelle you are buying. Ask the Notare if he has checked for debt. If you intend to build, ask to see the PAI and CDU. Get it all in writing. Read the translated deeds and ask questions.
What do I need to bring to the Notare when I buy a house?
You need a passport, certificate or plastic card of your Codice Fiscale, banker's draft for the payment written out to the seller(s) and a procura if somebody cannot come to buy the property (husband or wife for example).
Is it safe to buy a house in Abruzzo?
Yes, very. Italian property laws are very strict and tight. The Notare will act on your behalf to uphold these laws and protect your rights. Be organised, get everything in writing and use a experts if you have doubts (lawyer, Geometra of your choosing or independent agent).
Do I need a survey?
No but it would be money well spent. Apart from the peace of mind over the problems the property may have, you have an independent person to ask questions to and look over some of the paperwork. Make sure he is qualified and independent.
How can I tell if the property I want to buy is at the right price?
Look around and keep good records. Areas are priced differently, so once you have found the property of your dreams view other properties of a similar budget near-by.
Who can I speak to for advice?
The best advice comes from people who have a lot of experience and nothing to gain. Neighbours may want you to buy another property for example. Ask professionals for their services and pay them after they have given it to you in writing.