Buying Process
It is often said that buying property in Italy is daunting and complicated for foreigners however, we at Bella Vista are on hand to ensure that the title is sound, the legal process straight forward and the administration well organised.
Once you decide to purchase a property in, the following steps are followed:
- Within 14 days a Compromesso is signed between yourself and the proprietor. A Compromesso is a preliminary agreement which commits both parties to the sale. It established the terms and conditions of the Rogito (the final document), the price of the property, a detailed drawing of the property and a detailed drawing of the surrounding plot and other relevant legal information. Once the Compromesso has been signed by both parties, the buyer transfers the deposit of 30% to the proprietor.
- The property is then completed (where applicable) during which time it is useful to arrange the mortgage should it be necessary, property management, furniture options and any other services you may require.
- Once the property is then completed ( where applicable) the owner/developer provides all the relevant paperwork to the Notary.
- The Notary (Notaio) is a state official and represents both parties. His role is to ensure that boh parties act correctly and that everything is legally sound. The Notary draws up the Rogito. At the signing of the Rogito, the balance of 70% is paid to the proprietor and you receive the keys. The associated fees are also paid on the day.
Fees – You should allow approximately 13% for fees. IVA is 10%, the Notary 1% and then there are fees for registration of the documents and where necessary the mortgage paperwork.