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Services
Customer-care is our priority and therefore we offer a constant assistance all throughout the buying process, as well as before and after completion. We offer a wide range of services that go above and beyond the ordinary estate agent's work, among which there are:
obtaining Italian Tax Codes and Visas;
translating and interpreting;
mortgage applications;
opening of bank accounts;
project management including:
obtaining quotes from, hiring, coordinating and chasing up local contractors, tradesman, plumbers, electricians etc.
choosing and picking up of materials
arranging applications and connections of new supplies.
monitoring and reporting the works' progress
liaising with engineers, architects, surveyors and various offices
property management including:
obtaining quotes from, hiring, coordinating and chasing up local contractors, tradesman, plumbers, electricians etc.
collecting and paying house and utility bills
organising cleaning services
periodical check-out of house state
general internal and external maintenance
preparing the house for your arrival (shopping, switching on supplies and cleaning)
dog-sitting
managing short-term rentals including:
checking in and out of your guests
picking up guests at the airport, train station etc.
showing guests around the property and giving them general instructions
organising cleaning and laundry changeover
shopping of general items to provide the guests with
organising customized tours for your guests if requested
house insurance;
mini-van rentals;
relocations;
guided tours of Abruzzo (including Food&Wine tours);
helping with bookings and providing of accomodation during your visit
Why buy in Italy?
A roundup of a few unique advantages that our Bel Paese can offer:
Mediterranean Climate:
Italy boasts a very mild climate that can accomodate everyone..winters are not long and the summer heat only reaches the highest temperatures in mid-August;
Food:
The so-called "Mediterranean diet" is undeniably the best in the world and Italy is one of its major representatives with the hundreds and thousands of local cuisines and the wide range of excellent wines;
Panorama:
Every region of Italy offers amazing landscapes like a few parts of the world do...even from major cities you can often admire wonderful views of mountains, sea and hills;
Quality of life:
"Hustle and bustle" in Italy is only known in metropolitan areas...the most part of this country is made up of small villages and towns where you can really "soak-up" the meaning of La Dolce Vita and experience a slow pace of life;
Historical, artistic and architectural heritage:
Italy hosts 50% of the entire world's artistic, cultural, architectural and historical heritage; Rome, Florence and Venice are obviously the quintessence of the Italian genius but every small village and even the countryside have witnessed the brilliance of our architects, artists, painters, carpenters, craftsmen, engineers etc.
Tourism:
Italy is indeed of one the most sought-after, all-year round tourist destinations and this enables a potential buyer to produce an income out of her/his property by letting it out as a short-term rental.
Why buy in Abruzzo?
Why should you prefer Abruzzo to other beautiful regions of Italy?
Simply add these to the above listed features:
- Snow-capped, majestic mountains and a fabulous, golden coastline within less than one hour from each other;
- Gentle hills, marvellous valleys and hill-top towns in between the mountains and sea;
- 3 National Parks and 1 Regional Park make Abruzzo the "green region of Europe"
- A vast selection of different kinds of properties to choose from: mountain chalets, country cottages/farmhouses, seaside apartments, modern villas, historical palaces etc.
- Incredibly generous and friendly people who perfectly embody the nature of their region...strong and gentle (forte e gentile) and still preserve old and genuine values;
- An affordable property market compared to other more fashionable regions like Tuscany, Liguria, Umbria and Le Marche, to suit "every wallet size"..
The Italian purchase process
If, after reading through this paragraph, the Italian buying process still remains an obscure system for you, just think that we are here to help you with everything involved and to ensure your only concern is to sit down, relax and sip your glass of good wine.
Below is an outline of the main steps to follow when buying a property in Italy:
1) First of all you need to obtain a Tax Code (Codice Fiscale) from a local Tax Office (Agenzia delle Entrate) or from your nearest Italian Consulate. This is an essential requirement when you request a new supply, a tax refund, an invoice etc. We can apply for the Tax Code on your behalf if you provide us with your passport and sign a short application/proxy.
2) The second step is to open a bank account. We can recommend local banks that are used to deal with foreign clients and offer fair fees. A bank account is required in order to transfer your funds to pay for the purchase itself, for the Agency and Notary's fees and, moreover, to eventually pay your bills through direct debit, very useful especially if you buy a second/holiday home.
3) The negotiation usually starts verbally (to "test the waters") and, when the verbal offer has been accepted, then a formal, written Purchase Offer/Proposal is drawn up by us. This usually outlines the details of the Parties, the conditions of the agreement and payment terms, describes the property and its cadastral data etc. The Purchase Offer is usually accompanied by a first deposit (around the 10% of the sales price) which becomes a confirmatory deposit (caparra confirmatoria) as soon as the contract is signed by the Vendor. At this moment, the Proposal gains the validity of a legally binding contract (Contratto Preliminare) whereby, according to art. no. 1385 of the Italian Civil Code, the Vendor commits him/herself to refund the double of the amount in case he/she wishes to withdraw from the sale and the Buyer accepts to lose the deposit in case he/she wishes to breach the contract.
4) There could be a further step following the Proposal, which is a Preliminary Contract ("Compromesso") drawn up by and signed in front of a Notary. This can take place if the Buyer needs to apply for a mortgage or the paperwork relating the property is not completely in order. The Notary usually charges a small fee for the Compromesso which is deducted from the fee paid at the Deed of Sale. When signing this contract, a second deposit is paid to the Vendor which is usually around the 20% of the purchase price. Both the deposits paid at the time of the Proposal and of the Preliminary Contract are offset against the final price.
5) The final contract, the Deed of Sale, with following registration and transcription of the title of ownership, is drawn up by and signed in the Notary's office. The Notary, chosen by the Buyer, is a public officer and therefore legally represents the State, acting neutrally above the Parties. He/she carries out formal checks to ensure that the paperwork is valid, that the Vendor has full ownership of the property, that it has legal building permits and conforms to the local urban-planning regulations and that it is free of boundaries, liens, mortgages, encumbrances, third-parties rights and any other kind of hindrances.
The Notary calculates and collects the purchase taxes (see chart below) to be paid at the time of completion.
Purchase Taxes
Purchase of first house (prima casa)
| Vendor | Registration Tax | Mortgage Tax | Land Registry Tax | Vat |
|---|---|---|---|---|
| Private | 2,00% | € 50,00 | € 50,00 | Exempt |
| Building Company (After 5 Years From Completion/Renovation) | 2,00% | € 50,00 | € 50,00 | Exempt |
| Building Company (Before 5 Years From Completion/Renovation) | 2,00% | € 200,00 | € 200,00 | 4% |
Purchase of second house (seconda casa)
| Vendor | Registration Tax | Mortgage Tax | Land Registry Tax | Vat |
|---|---|---|---|---|
| Private | 2,00% | € 50,00 | € 50,00 | Exempt |
| Building Company (After 5 Years From Completion/Renovation) |
2,00% | € 50,00 | € 50,00 | Exempt |
| Building Company (Before 5 Years From Completion/Renovation) | 2,00% | € 200,00 | € 200,00 | 4% |
Property running costs
IUC (IMPOSTA COMUNALE UNICA)
It is an annual, comprehensive property tax including 3 figures: IMU (first house is exempt unless it is a luxury home), TASI (tax on municipal services, such as road maintenance, street lighting and cleaning, etc.) and TARI (garbage tax). All home owners, both resident and non-residents, must pay for these taxes (in case the property is rented out the tenant has to pay for the TARI and part of the TASI). The payment is divided into two instalments.In case of renting out your property for a long period of time, the tenant will pay for TARI and a part of TASI (between 10% and 30%). Each municipality/council has its own regulations (which can also be changed every year by the central government), therefore you need to check with the local offices which rates is applied to your case.