Through the collaboration with both Italian and foreign agencies, carefully selected, itcasa is able to offer its customers an exclusive collection of properties to satisfy even the most particular taste.
If the type of property desired is not immediately available in our collection, itcasa, offers a personalized search service that, following the market according to the search criteria of the customer, indicates new properties placed on the market that may be of interest to the customer.
Once the suitable property has been identified, itcasa offers its customers all the assistance necessary to make the purchase, including:
- Property Valuation;
- The preparation of a technical report containing all the necessary documentation for the evaluation of the urban, building and general regularity of the property, indicating, if any, any special conditions, both positive and negative, that could influence the choice of the property by the buyer;
- The submission of the formal purchase proposal;
- The preparation or supervision of the technical and legal procedures necessary for the conclusion of the preliminary sales contract (also called "compromesso") and the subsequent notarial deed.
Below are briefly, the main aspects of a real estate purchase.
Formal purchase proposal
The first step in the purchase of a property is the preparation in writing and subsequent sending of the formal purchase proposal by which the buyer irrevocably undertakes, for the period of validity indicated in the proposal itself to purchase, for himself or a person or company to be named later, the property at the price indicated in the offer.
At the same time as the formal purchase proposal, the purchaser will give itcasa , as the real estate agent, a non-transferable cheque, made out to the seller, which itcasa will give to the seller at the moment in which the latter, accepting the conditions of the proposal, countersigns it. The amount of the cheque (which varies in proportion to the value of the property) will be valid as a "deposit" which in turn may be "confirmatoria" or "penitenziale" depending on the case and if the seller should refuse the offer, the cheque will be returned to the buyer within 5 days.
Preliminary contract (also called "Compromesso")
If the offer is accepted and then countersigned by the seller, the next step is the preparation and signing of the preliminary contract, also called compromise.
At the signing of the compromise, the buyer will have to pay a deposit, usually between 10% and 30% of the total purchase price stipulated and will also be indicated in the contract, among other things:
- Payment terms;
- The status of the property (vacant, rented, etc.);
- The guarantee that the property will be transferred free of any charges(including past condominium expenses);
- The date of delivery of the property;
- The date of the notarial deed of sale (usually between 2 and 4 months from the date of the stipulation of the compromise).
With the signing of the compromise, the parties involved have the certainty that, since the will of one or both parties is not lacking, in which case it is necessary to consider the type of deposit paid at the time of the compromise to better understand the procedure to be followed, the sale will be successful and therefore, legally, the commission is due to the real estate agent.
The notarial deed is the final act in the purchase and sale of a property and is stipulated in front of a notary (usually chosen by the buyer) and the parties involved (seller and buyer).
Before drawing up the deed, the notary carries out all the checks relating to the property being sold (land registry searches, mortgage searches, etc.) and only once he has ascertained the conformity of the property does he draw up the deed, which is signed by the parties in his presence, and then he registers the property, paying the relevant taxes, the transcription in the registrar's office and the cadastral transfer.
Often, together with the deed, the mortgage deed is also signed and after this operation the notary will provide for the mortgage registration in favour of the lending bank.
At the moment of the deed, the balance of the price stipulated between the parties is paid and the notary fees are settled.
Normally, the costs of buying a property should not exceed 12% of the value of the property.
Since all the expenses necessary for the conclusion of the notarial deed (notary's fee, taxes for the purchase of the property etc.) are borne by the buyer, it is up to the buyer to choose the notary of his choice to conclude the contract.
The main costs associated with buying real estate are as follows:
- Taxes due for the transfer of the property - vary according to the type of property (first home, second home, etc.) and the type of seller. For example, as a general rule, the value of taxes due on the purchase of a property from a private seller varies between 2% and 9% of the cadastral value of the property revalued according to the category to which the property belongs.
- Notary - the notary's fee is set according to national tables and varies according to the value of the property being purchased.
- Real Estate Agency - itcasa 's commission usually varies between 2% and 5% of the total purchase price (excluding VAT) depending on the value of the property.