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The main stages of Property Purchase (Compravendità) in Italy are the initial purchase offer (Proposta d’Acquisto), the preliminary contract of sale (Compromesso), and the notarized final act of sale (Rogito Notarile).  This article explains how the process works.

1. PURCHASE OFFER (Proposta d’Acquisto)

The first step after finding your ideal house is to make a purchase offer.  Initially, this is usually done verbally.  We discuss your offer price with the seller and after a bit of negotiation, hopefully your offer will be accepted.  Then, we complete the appropriate written offer document, incorporating all your conditions relating to the sale, which we ask you to sign. If you have already returned home, it is not a problem, as this stage can be carried out by email. Once the seller has also signed the document, we ask you to pay a small deposit, usually around 5% of the purchase price, which can be paid by bank transfer.

If the seller accepts your conditions (written acceptance), the parties will be bound to complete the sale as it has been established in the proposal. The seller receives your money, and this becomes your deposit on the property.

NOTES:

  • If you pull out of the sale after your offer has been accepted, you will lose your deposit. If the seller pulls out of the sale, he must refund your deposit.
  • When you make your offer to the seller, you must also decide on the dates by when you would like to sign the preliminary and final contracts. These dates are seen as deadlines, but you can sign anytime beforehand, as long as it is agreed by the seller.

2. PRELIMINARY CONTRACT OF SALE (Compromesso)

The compromesso is an agreement where both parties promise to conclude a future contract (notarial deed) and in which they record and expand upon all the terms of the proposed purchase.

In the compromesso the following information must be clearly stated - the identities of both parties, the features and cadastral data of the property, the cost and method of payments, and the date by which both parties agree to sign the final act (when the property officially becomes your own).

It must also be stated that the house will be sold without any outstanding debts, encumbrances or mortgages and is completely in order with town planning regulations.

A further payment (caparra) is made to the seller, usually around 20% of the total purchase price (including the deposit already paid).

NOTES:

  • By this stage, you need an Italian tax code (codice fiscale) which can be obtained from any tax office in Italy or from your Italian Embassy.  We can apply for your tax code, on your behalf. 
  • If the seller pulls out of the sale after this stage, he must refund your money and pay you the same amount again, as a penalty. 
  • The estate agency fee is due to be paid when the compromesso has been signed.
  • It is a good idea to open an Italian bank account at this stage, in preparation for the final act.  We will help you with this. 
  • This stage can be carried out via email.

3. NOTARIAL DEED (Rogito Notarile)

The notarial deed is the FINAL ACT of the sale and is signed before a public notary (notaio) and the interested parties (seller and buyer).

Before the signing, the notary performs all the relevant checks on the property (land registry searches, legal and mortgage checks, etc.) He draws up the act which is signed in his presence and then he lodges the necessary taxes and registers the title deeds with the land registry, making the property officially yours.

If you are taking out a mortgage, you will sign a separate act for the mortgage at this time, and the notary will record your bank as your mortgage lender.

At the time of the signing, you also pay the balance on the price of the property, the notary fee and the related taxes.

NOTARY FEES

Notary fees vary, usually it is around 1.5% - 2% of the purchase price, but it is always advisable to request a quote. However, as an example, for a house costing €100,000, you can expect to pay around €1,500 - €2,000 (including VAT) to the notary. If you are taking out a mortgage, you have to sign 2 separate documents, so the cost will be around double.

TAXES

Below is a table of taxes currently payable on the purchase of a property:

 

Seller  Tax  Primary Residence  Secondary Residence 
 
Purchase from
a private seller
 
Registration Tax  2% of cadastral value * 9% of cadastral value 
Local Tax  €50   €50 
Stamp Duty  €50 €50 
 
Purchase from
a developer or
constructor (within
5 years of 
completion).
VAT  4% of purchase price
10% of purchase 
price **
Registration Tax  €200   €200  
Local Tax  €200  €200
Stamp Duty  €200 €200

 

* there is a minimum fee of €1,000 when paying the 2% tax on a primary residence. If the property is classed as a 'luxury home', the tax is 9%, not 2%.
** if the property is classed a 'luxury home', the tax is 20%, not 10%.

THE NOTARY

The notary is chosen by the buyer, however he is an impartial public official. He cannot act in the interest of one party, to the detriment of the other. Having one official, rather than 2 opposing solicitors, makes the process simpler than in other countries and also saves money. The notary ensures the validity and effectiveness of the act. He checks that the property is legally owned by the seller, that there are no outstanding debts and he carries out all the safeguards to protect the interests of both parties.  He calculates and collects the purchase taxes. His work is guaranteed, so if he makes an error, he must reimburse you for any losses that you incur.

NOTES:

  • If the contract is between 2 private individuals, the law states that the deeds must state the actual price paid for the property. However, for tax puposes, the figures can by calculated using the cadastral value (valore catastale), which is a figure decided by the land registration office and is usually a lot lower than the purchase price.
  • If the buyer is unable to read Italian, the documents must be translated into your language, or a trusted person can be given Power of Attorney (Procura) to sign on your behalf.  The fee for the translation (usually around 500 euros) is paid for by the buyer. 
  • In order to buy a property as your primary residence, to qualify for the lower tax value, you must obtain Italian residency within 18 months of signing the final act.
  • On 1/7/2009, a new law came into force requiring an energy performance certificate (ACE) to be attached to the notarial deed. It is issued by a qualified technician, and it is the seller's responsibility to organise this.

A NOTE FROM US

Buying a house in Italy may seem very complicated and bureaucratic, but it is usually straightforward and can be relatively swift. The process also has certain safety nets for the buyer, which aren’t present in the English system. We will help you at each stage and ensure that you are ready to proceed to the next step.

If you have any questions about the process, please contact us: This email address is being protected from spambots. You need JavaScript enabled to view it. 

In 2010 we (man, wife, 2 children and 2 dogs) had a very serious idea to move to Italy, permanently. With the promised work possibilities in mind we started our search for a nice place in the region ‘Abruzzo'. Due to all kinds of changes, we had to change plans from time to time. Changes in terms of budget, type of house, area within Abruzzo and last but not least we had to leave the idea to move permanently. At the end of 2016, we bought our second home near Castilenti, Abruzzo. A very nice situated house, exactly what we wanted regarding the moment in life.

Along the way, from 2010 until now, Tracey / Abruzzo Reality helped us with so much patience and empathy. We regularly visited Abruzzo and went to places and houses which on paper would fit our needs. Within a few minutes on site, Tracey could see and ‘feel’ if it would be a fit or not, and if not, we moved further in a very relaxed but professional way. A no-fit happened a lot and never was problem. Next time better, she kept on searching and helped us with tips and advice in between.

The ease of talking in English to a real estate broker who is multi lingual and is perfectly capable of translating it back and forward without lost of words or context is a very big plus. The network of Tracey is wide and diverse, good and reliable geometras, notarys and builders are part of her network and were very helpful for us, as new Italian home owners to quickly make the region ‘our own’.

We recommend Abruzzo Reality / Tracey highly when you want to find your home and way in, and around, Abruzzo.

We have nearly completed our first year of owning a property in Abruzzo after looking for almost 5 years.
During our last two years we met Tracey and Vincenzo, who introduced us to the region of Abruzzo. They showed us a variety of properties, based on the brief given to them and did care that we the buyers and the properties were closely aligned.
Having found a property that matched what we wanted, the process of buying was fairly straight forward through their services. Tracey took us through the process step by step and ensured everything was conducted in a professional manner.
Both Tracey and Vincenzo assisted us with the Italian notary and followed up after the transaction was completed dealing with all the necessary paperwork.
We are delighted with her services and her meticulous attention to detail.

Excellent experience with Abruzzo Reality.

Buying property in other countries can be stressful and frustrating. For us it was a wonderful and smooth process thanks to Tracey and Manolo at Abruzzo Reality. They were patient with us and helped us every step of the way.
They responded to our questions promptly and never left us hanging. Not only did they get us an amazing property for a great deal but they also helped us to find trustworthy and fair tradesman to help us after closing. We would highly recommend this company if you are looking to buy in Italy. They are the kind of people that we hope to keep a friendship with even after business is complete. Thank you to the entire amazing staff.

From the word go we were impressed by Tracey's professionalism. She focused on exactly the type of property we wanted, not what she had to sell. Tracey spent a lot of time with us and offered much practical advice and we secured a perfect house meeting all our requirements. In addition, Tracey provided all the necessary information on Italian property law and much else besides about local issues. The whole process moved very smoothly to completion with Tracey and her colleagues always there to clarify any issues. A first class operation.

Property transactions are invariably by their very nature stress inducing, especially when involving an unfamiliar language and legal system. Complete trust in any company chosen for marketing and conveyancing is paramount and it was clear to me from my first conversation with Tracey that I had at last found the person I'd been looking for.

The sale of my property involved a particularly challenging problem which on several occasions appeared almost impossible to resolve. Tracey however is a person who inspires confidence almost as though failure is not an option and I have no doubt that without her skill and involvement the house would still be for sale and likely to stay that way.

From my personal experience of property ownership in Abruzzo I believe the service this company provides is unique and only wish that I'd found such an agency in 2004 when I first dipped my toes into Italian living.

After having our apartment up for sale for a couple of years with no result, we were recommended to contact Tracey by friends, as she had helped with their sale. We cannot thank and praise her enough as she instantly went into action to advertise and find us a buyer. The whole process was completed quickly and professionally and what we thought would be a complete headache went very smoothly. Tracey dealt with the whole process from viewings, booking the Notary and arranging to have all the utility bills transferred in to the new owners names. We would like to thank the whole team for their excellent service.

In our search for houses in Abruzzo we came across several kind and helpful people in the various real estate agencies. However, from the very beginning Tracey has given us kind, informative and immediate responses to all our questions. So, when we met Tracey at our first trip to Abruzzo there was no doubt in our mind to chose her and Abruzzo Reality to help us.

Tracey has been guiding us from the first step of the Italian buying process until we finally received the keys to the house. And we are convinced that Tracey will ensure that the process of renovating the house will be as smooth as possible. Thank you.

From start to finish, Tracey and the Abruzzo Reality team are there to help. With finding the correct home with in the correct budget, to offering advice as to which is a good buy and which not so much. Need work done, they have contacts to help. Need a mortgage, they have contacts that can help with that to. The service doesn't stop with the purchase of a home either. Any care, guidance, or other assistance after the home purchase, Tracey can help. Being that English is her first language, this all makes a complicated process, that much easier. I can't say enough about the level of service received by Abruzzo Reality.

Tracey of 'Abruzzoreality' is quite simply a miracle worker! Let us explain.

Having had a holiday home out in the countryside near Penne for ten years, we decided that it was now time for us to 'downshift' and move to a smaller, more easily managed house in town. Tracey had superbly managed the country house for us, arranging ongoing maintenance for the house and gardens, as well as successfully organising holiday lets for the weeks when we were not 'in residence'. Tracey is a highly respected professional; her knowledge and understanding of the vagaries of the property market in Abruzzo is second to none. Knowing her to be honest; always acting with integrity and with our best interests at heart, we were keen to involve her in our plans to relocate in Abruzzo, from the outset.

Tracey designed the advertisement for the sale of our property; posted it on her Abruzzoreality website and was successful in attracting a number of potential buyers. A sale and date for the exchange of contracts was agreed within weeks, meaning we had to quickly find a town house which met our needs. Tracey arranged for us to look at suitable properties in our preferred towns of Penne and Loreto Aprutino. Tracey chose well and we fell in love with a beautiful compact house in the 'Centro Storico' in Loreto. We made an offer which was accepted and through Tracey's hard work, were able to complete the purchase to coincide with the sale of our country property. Tracey had managed to successfully ensure our move was stress-free, seamless and relatively quick to conclude.

We will of course continue to use Tracey's management services for our new holiday home in Loreto and as always, will never hesitate to recommend 'Abruzzoreality' to anyone and everyone! We have been very lucky in getting to know Tracey, who for a whole variety of reasons, has made our time in Abruzzo trouble free and hugely enjoyable. Long may she continue to do so!

Communication was easy, as speaking both English and Italian. Viewings were arranged with ease and Tracey helped us out with various issues, which helped a lot. We could not have done it without her. We would definitely recommend.

When we fell in love with our little house in the Abruzzen, Italy, we were extremely lucky to have the help and support of Tracey.  She always responds quickly to all our emails and is tireless when it comes to answering all our questions. We certainly couldn’t have done it without her.

We were looking at houses in Abruzzo for quite some time as we were quite fussy on what we wanted and it had to be within a specific budget. Apart from this, our requirements changed a lot over the period we were looking at houses. Despite this we have to say Tracey and colleagues were always there to help out, and even show us a few house we insisted on seeing when they knew quite well they were not suitable for us. The house we eventually purchased was one they brought to our attention, when they did we named it the "prison house", which shows how impressed we were, and of course how wrong! During the purchase and since (now 4 years on) Tracey has helped us (and still does) not only sort out our problems and get jobs done, but also provide great guidance and encouragement to do things ourselves.

Selling a house in Italy we had heard was always difficult and could take years. For us our sale was very smooth and very quick with Tracey and the Abruzzo Reality team. Numerous people to view within the first few weeks and all viewings handled without fuss and at our pace. A couple of offers handled very well and final sale that went through without a hitch. Great service!

To move, buy a house and live in another country with all its bureaucracy, customs and language barriers is quite a daunting, if not exciting, prospect at the best of times. To do so, when you are doing it alone can be frightening to say the least.

Tracey made it more of an exciting adventure, without the down side, in a friendly and trustworthy manner. I am extremely grateful to her and her colleagues, and they are still here, helping to smooth out the edges long after I purchased the house of my dreams. I consider them as friends.

Tracey also found me a companion, a beautiful and loving dog who is always by my side :) Thanks for all Tracey.

We entered into the Italian property market on a bit of a whim and with little knowledge. Tracey immediately impressed us by the responsive way she answered our initial queries and provided us with really helpful advice on geographical areas to consider. We booked a couple of long weekends in Abruzzo and Tracey could not do enough for us in organising viewings and ferrying us from house to house. Tracey was accompanied by Vincenzo who originates from Abruzzo and together they make an impressive and knowledgeable Anglo-Italian partnership. They were always realistic about the merits and weaknesses of each property and we never felt under any pressure from either of them at any time. They clearly just wanted to find the right property for us and approached this with great integrity and dedication. We learned a lot about Abruzzo from them and did eventually find a wonderful property, completing the sale in May 2016. Tracey held our hand throughout the process, arranging the survey and the notary and responding immediately to any issues whenever they arose. This high quality attentive service did not stop once we had taken possession of the property and Tracey continued to help out with organising energy supplies and fuel bills.

We would now regard Vincenzo and Tracey as our first Abruzzo friends. We often had meals together during our house hunting and we now take every opportunity to catch up with them when we return to the holiday home they found for us. We feel very lucky we stumbled on Abruzzo Reality!

For some time we were looking for a nice place to call our own in Italy, where we could have a relaxing time in between the rush of daily life, but could also rent during the high season. Looking over countless internet pages and visiting real estate sites we came across the site of "abruzzoreality.com". We couldn't have been more lucky.

From the start we had all the help that a 'stranger in paradise' could wish.

Together with Tracey we browsed the practically the whole of north Abruzzo for something suitable that had to be not only comfortable but also had to be fitting within our budget.

Because we were in the Netherlands, she visited several properties for us and came up with an extreme good property in Mosciano Sant'Angelo at the end of May. From that moment everything went in a current. Tracey and colleagues did literally everything for us. They took care of all the paperwork and she was our tower of strength during this hectic period. In only a few weeks we had to go to Italy to get everything straightened out and a few weeks later we could sign the contract. I'm sure that with our lack of knowledge about the Italian language and bureaucracy, we would have never done it in such a short period with such a fantastic result.

Our sincere compliments to Tracey for all her effort in helping us to obtain our apartment. Abruzzo Reality really put people before quick profits.

Thank you guys!

Our search for a home in Abruzzo started at the end of 2017. After a lot of searching on the internet, we ended up on the website of Abruzzo Reality. What immediately struck us was that we could read this site in our own language. Which in itself was a plus. After the first mail we sent to Tracey, we were quickly surprised by her quick and professional answers. No question or comment was too much for her. She is the best in her profession and she has always supported us with advice and action. After we had visited our dream home and decided to buy it, she took care of all the administrative matters. From application Codice Fiscale, up to and including signing with the notary. Which was a great reassurance for us, knowing that we were assisted by someone who knew perfectly well how things work in Italy. Even after the purchase she still takes care of the administration and we can still contact her for advice. The smooth course of this sale has even prompted us to purchase a second home in Abruzzo. Without Tracey there was a big chance that our purchase would end up as a nightmare, now it remains a dream, thanks to her! We can therefore highly recommend Abruzzo Reality.

We have moved from the USA to Montefino in the Province of Teramo, Abruzzo, Italy. By shear luck we googled Abruzzo properties and found Abruzzo Reality and Tracey! She and her colleagues were the most accommodating team that we could have asked for. Tracey speaks both fluent Italian and English so there has been no concern for a misunderstanding in translation. We incurred some daunting trials while acquiring our Elective Visas and Tracey went above and beyond the call of duty to assist us. If you are in the market for a home in Abruzzo, Abruzzo Reality is a must!

After living 8 years in Abruzzo, Italy, we felt it was time for another change in our lives and we put our house on the market. Within a year we sold it through Tracey and her colleague Vincenzo. We are very pleased with the way the sales process has gone. Tracey and Vincenzo offered help and gave advise wherever needed.
Currently, we have to make the latest changes by name at a view Italian utility companies and we are pleased to have the help of Tracey for realizing that. So we are very satisfied with the work of Tracey and Vincenzo. Thank you both!

We used Tracey to sell our house in the Abruzzo. We found that the services she offered were consistently what was needed. It was never any problem for her to bring prospective purchasers, even though our house was a little off the beaten track. Having lived in the Abruzzo for many years she has local knowledge and an understanding of the culture and the people which all helps in the purchasing and selling process. We have no hesitation in recommending her services.

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