Welcome to Area Royal, if you're looking for to purchase an property in Tuscany,you need some informations about law in Italy to buy an property.
More and more people are investing in Italian properties perhaps as a holiday property or second home; We can help you to buy : luxury italian villas, farmhouse for sale in Tuscany, medieval castles, beach house on tuscan coast and many other properties for sale Italy, without you dealing with dozens of real estate agents in your search for Italian property. When searching for a house in Italy it is strongly recommended that you use an estate agent fully licensed by the Chamber of Commerce. Homes in Italy works with accredited and licenced estate agents.

Normally the buying a property is arranged in three stages:

Step one: The offer

We you have found your italian dream property , you can sign a an irrrevocable purchase agreement (Proposta irrevocabile d'acquisto) which is signed by the buyer and seller when you have agreed the price, and which identifies both parties, the property in question, and gives an expiry date for signing the Compromesso. When you sign, you pay a deposit for the equivalent of 10% (this can vary) of the agreed price, this can be either held by the agency, and returned to you when you sign the compromesso or cashed by the vendor and used as part of payment on the property.

Stage two: Compromesso

The preliminary contract (Compromesso) commits both parties to the sale. Italian law requires all contracts relating to land or buildings to be in writing, signed by both parties. This contract establishes the terms and details of the final contract (Rogito) about price, date, guarantees and any other relevant legal details. You will pay a deposit at this stage (Caparra) which is usually 30% of the purchase price.
Furthermore italian law requires all contracts relating to land or buildings to be registrated in 20 days and the buyer have to pay: 168,00 + 29,24 euro for duty stamp (bolli) and 0,5% of taxes calculated on the deposit (Caparra) and when you'll sign the Purchase Deed (Rogito) the notary will calculate decreasing taxes.

Stage three: Rogito

The third stage relates to the completion formalities, which normally take place in the offices of a local Notary, in this is the stage ownership of the property transfers of from the seller to the buyer. . Notaries have a special duty of drafting the Purchase Deed (Rogito) and to ensure the proper execution, registration, and payment of all Italian taxes relating to the completion.

The buyer will pay:
Purchase tax: which is either 3% (replaced by 4% VAT on price if buying from a building company) if the buyer purchases the property as his first residential home in Italy and applies for residency in the local area, or 10% if the foreign buyer already owns property in Italy or does not wish to apply for residency. Please note that the tax is calculated on the declared value of the property stated in the building registry and not the purchase price if you buying from private seller, if you buying from a building company you pay taxes on the purchase price.
The Notary's fees amount to approximately 2.5% of the total cadastral value;
Translator Fees for formal translation of the Rogito, typically around euro 450;
Our Agency fees: 3% of the purchase price of the property;
Surveyor fee: The Geometra's fees vary depending on what work is involved in the conveyance, he will check all the documents for the house are up-to-date and legal, that buildings have fully registered title and that the house complies with planning regulations.

Running costs of your property will include:
Annual Tax: The Imposta Comunale sugli Immobili (ICI) is an annual council tax is paid by anyone who owns property or land in Italy, whether they are a resident or non-resident. It's levied at between 0.4%/0.7% of a property's value, the actual rate being decided by the local authority depending on the size of the property, location, class and category. If a property is unfit for habitation it could qualify for a 50% reduction. ICI is paid in two instalments in June and December
Rubbish tax: it is payable in four instalments or all at once if you prefer;
Condominium expenses: if you buy a property which is part of a group of properties which share some communal areas.

Our Services:

Advise you on local, reputable surveyors and builders restoration
Provide finance and mortgage options;
Arrange Foreign Exchange;
Arrange utilities transfers to your name;
Open a bank account in Italy.