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Emilia Properties will support you all along the purchasing process for the property you have chosen. It is easy to buy a property in italy therefor we will help you to learn all the main phases necessary to carry on the operation in the safest way.

Preliminary contract

The sale starts with a preliminary contract (Compromesso), this agreement commits both parties to the sale. This contract establishes the terms and conditions of the final contract (Rogito) and details price, date for completion, the nature of the property and guarantees from the seller. You will be expected to pay a deposit at this stage (Caparra), which can range from 10 - 30%. It is important to note that if you withdraw from the sale after signing the Compromesso, you lose your deposit. However, if the seller withdraws, he must pay you double your deposit! The Italian way of selling ensures that buyers are not gazumped in the marketplace and that all parties work towards an established completion date from the outset, unlike the UK.

Contract of sale
This is the final stage of the process and transfers ownership of the property from the seller to the buyer (usually 1-3 months after the Compromesso). The document is drawn up by the Notary (Notaio), who represents both parties. The buyer and the seller are required to be present for the signing of the contract at the Notary's office. You can sign the Rogito in person or we may be able to appoint a Power of Attorney in your absence. As with a sale in the UK, you will be expected to transfer funds at this stage.

Purchase Tax

which is either 4% if the buyer purchases the property as his first residential home in Italy and applies for residency in the local area, or 11% for the property and 18% or the land if the foreign buyer already owns property in Italy or does not wish to apply for residency. NB Please note that the tax is calculated on the declared value of the property not on the value stated in the land registry which is usually approximately 50% of the real value. The declared value of land is usually extremely low, unless it is valuable land such as olive groves or building land. (Payable when you sign the final contract).

Registration of the Compromesso (or Preliminary Sale Agreement)

As from 1st January 2007 it has become compulsory by law to register the Compromesso (or Preliminary Sale Agreement) by the Public Revenue Agency of the province where the Compromesso has been signed.  The registration brings with it the payment in advance of a percentage of the taxes to be paid at the Deed (or Rogito).

Specifically the costs are:

-Euro 168 representing a fixed tax,

-0,5% calculated on the earnest to bind the bargain indicated on the Compromesso, and/or 3% calculated on the down payment indicated on the Compromesso,

-the necessary revenue stamps that can be quantifiable only at the Compromesso's signature. 

Both the amounts resulting by 0,5% and 3% will be deducted from the registration taxes to be paid at the Deed. The purpose of the Compromesso's registration is meant to give a further security about the regularity and effectiveness of the Compromesso itself.

In order to purchase a property in Italy you will need a "codice fiscale" (or fiscal code) - a tax code and a bank account. Emilia Properties can sort all this out for you. It must be remarked that to be able to make the Compromesso's registration it is necessary to get the "codice fiscale".

We can also advise on how utility contracts can be transferred to you, and work with local architects, planners and many trusted and qualified professionals should you be thinking of renovating/updating your home. Building work in Italy usually involves many 'permessi' - permits and we can assist you in making sure all your plans come to fruition as smoothly and as quickly as possible.