Toscocountry®

Documents and acts

He/she will write a preliminary contract, otherwise called Promise to buy (in Italian: Compromesso), which is a private act (in the sense that it is normally not registered unless something goes wrong) between Vendor and Buyer. This contract normally includes:

1. The agreed price of the property
2. Times and methods of payments
3. The date for completion
4. If the property that is being sold is burden by liens or similar
5. Includes the Vendor guarantee that he owns what he sells and that the property is regularly sellable
6. The description of the property
7. The indication of the boundaries of the property

At this point the Buyer pays 30% of the purchase price to the Vendor, equivalent to a statutory deposit.

PLEASE READ, VERY IMPORTANT INFORMATION.

• In the event that the process does not go ahead because the Buyer (YOU) withdraws through no fault of the Vendor (THE SELLER), the deposit given is lost. While if the Vendor (THE SELLER) cannot meet the terms of the Compromesso - or simply withdraws - then DOUBLE the deposit must be returned to the purchaser (YOU).
• Last step of the purchase process is the signing of the final contract, called rogito. That act will be completed by the geometra and submitted to the Public Notary, who witnesses the transfer of ownership from one party to another and collects the taxes due on the transaction. He/she will check that the taxes and dues have been paid and if the property is burden by mortgages or debts etc.

Afterwards the Notary will register the new title within 21 days. If you have taken out a mortgage he/she will register this too.

Choosing the righ house with the right people:

The proposal to buy

Documents and acts

Purchase taxes

Comune tax in Italy

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