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BUYING PROCESS in ITALY, PUGLIA
The
APREMONT service.
1/.The purchase
process begins with a preliminary Contract ("Compromesso"),
which is prepared by our colleagues in Italy,
who will have introduced you to the property
of your choice. Once signed by both the Vendor
and yourselves, the Buyer, this agreement commits
both parties to the Sale. At this stage a deposit
(normally 10% of the agreed price) will be required
from you to confirm your intention to purchase
the property.
The "
Compromesso" will then be checked by the
Notary on your behalf as the preliminary Contract
establishes both the terms and conditions of
the final Contract ("Rogito") and
includes details of the agreed price, the date
of completion, the type of property and any
guarantees and further information provided
by the Vendor.
Please note that, under Italian Law, if you
were to withdraw from the purchase after signing
the preliminary contract, you would lose your
deposit. On the other hand, should the Vendor
withdraw, he must pay you twice the amount of
the deposit you have handed over. This long
established arrangement is designed to avoid
the possibility of a Vendor attempting to sell
to another party at a higher price than that
agreed with the Buyer.
2/. The
final stage of the buying process is the Contract
of Sale, which transfers ownership of the property
from the Vendor to the Buyer. This process takes
between 4 weeks to 3 months after the signing
of the Compromesso. The Notaio ( Notary) represents
both parties and draws up the final Contract,
which will be signed at the Notary's office
in the presence of the Vendor , the Buyer and
our colleague (the Agent). Although it is preferable
for the Buyer to sign in person, arrangements
can be made to appoint a Power of Attorney in
your absence.
3/. Apremont
arranges for the translation of all the essential
documents required for the purchase.
We also organise the Codice Fiscale for our
clients. (This is the compulsory code that everyone
in Italy has, and which is essential for all
Buyers of property in Italy).
If required, Apremont will arrange the opening
of a bank account for our clients in Italy.
4/. Apremont
is there to assist you with the move into your
new property and our team will help you with
organising the utilities, introducing you to
local tradesmen and guidance with the purchase
of furniture etc.
Fees relating
to the purchase of a property in Italy
1/. Government
Taxes (Stamp Duty), registration taxes etc.
These total
10%, and are calculated on the declared value
of the property, which will usually be lower
than the actual purchase price.
2/. Notary
Fees
The basic
Notary fees are fixed by Italian law and are
charged according to the price of the property
purchased. They range from 1% to 2% of the purchase
price.
3/. Agency
Fees
THE PRICES
QUOTED BY APREMONT OVERSEAS FOR ALL PROPERTIES
FOR SALE IN PUGLIA ARE SUBJECT TO a
3% BUYERS COMMISSION unless stated otherwise.
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Do's
& Dont's |
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Listed below are a number of tips for
people who want to commit themselves to
Real Estate Agencies. They are based on
our own personal experience and we hope
they will be useful to you.......
1)
Do not trust estate agents who don't have
an office or arrange to meet you in other
people's offices.
2)
Do not trust estate agents who don't ask
for a fee (or you will probably end up
paying more than is due).
3)
Do not trust an estate agency who is not
registered with the provincial register
of brokers: both the agency and its director
must be registered! Otherwise, they have
no right to ask for payment! This is our
registration number ( BR 754)
4)
Check that the prices are clearly on display
in the agency office. Therefore, you can
be sure that the price is the same for
both Italian and foreign customers.
5)
Do not leave a deposit in cash, only a
cheque in euros. You will then know exactly
who will receive the money.
6)
Do not pay the agencies fees until the
property owner has accepted your offer.
7)
When you pay the fee the agency must give
you an invoice clearly showing the corporate
name, director's name and the fiscal code
of the society (a code comprised of 14
numbers). You can therefore be assured
that they are a legitimate agency.
8)
When signing the proposal form make sure
that it contains the property owner's
name, agency director's name, registration
number & agency fiscal code.
9)
The estate agent exercises a precise profession,
which requires a specific expertise: Do
not trust people who have more than one
occupation! (It's very easy to find people
such as building surveyors, architects
etc who act as agents...thus committing
a serious offence by not being registered!)
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