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The Agency Prendocasa Immobiliare has been chosen, for his professionalism and competence, as an agency of reference by the famous Russian Website RB.RU to advice its readers about all tips and procedures to purchase a property in Italy.

Here you can read the translation of the article...

  

Calabria and Real Estate Market in Italy

Italy is a country with a big historical, artistic, cultural and natural interest and a perfect place for those who decide to do an investment in the real estate field.

Every year thousands of tourists from all around the world decide to spend their holidays in the south of Italy, that has always been a favorite destination compared to big cities for its beautiful views, the crystal-clear see and the wonderful sunsets that portrays Calabria as one of the more fascinating place of the entire country; It’s so true that tourists are often “kidnapped” from the extraordinary beauties of the area and decide to invest in Calabria buying a second home that can be a serene refuge from the stress of the city.

 

WHAT IS THE BEST PROPERTY?

 

Who decides to buy in Calabria can choose among many different properties, from building lands, villas, apartments, penthouses, hotels and more.

Foreigners prefer to buy apartments and penthouses from 50 to 120 sqm, few meters far from the sea, in order to rent it to other tourists with an income from their second home, since Calabria is a place of great tourist interest, or to move permanently in the fascinating landscape that this region offers.

Those who prefer to buy a house, independent or semi-detached, often prefer a location up on the hill, far away from the city, preferably with garden and panoramic views, an inviting accommodation for moments of pleasure and relax.

Many people prefer to buy off-plan. In fact if you buy an off-plan property you save a lot of money! Furthermore it does not prevent you to see how it will be once completed and furnished. The best real estate agencies provide architects and specialists’ advices to help the customer to have a clear idea of the project.

Buying an off-plan property is not a risk and it is beneficial.

You can buy an off-plan property at a cheap price and when it will be completed its value will be much higher than what you invested.

After the crisis occurred past years and still ongoing, it is expected that a resumption will happen and the property prices will rise over the next two years at least of 30%.

It is a real bargain buying a property in Calabria now, but it is important to choose a Real Estate Agency you can trust and that can advise you during your sale.

 

HOW TO PURCHASE

 

Before buying a property, there are some points you should check.

First of all, make sure the property you are buying it is built according to building codes and that there are not illegal works. If you have decided to trust an agency, you should know the percentage they charge for the provided mediation. It is usually between 1.5% and 5% and changes from city to city.
At the sign of  the final deed, both parties must provide all documents related to the property, as follows:

Title Deed: It is the document produced by the seller that certificates the ownership of the property. He could own the property through sale, gift or inheritance. In case of an existing mortgage on the property, it is necessary its extinguishment , with an agreement of mortgage cancellation (the seller has to pay all related expense).

Town planning use class certificate: It contains regulations concerning the surrounding area and is released by the director (or manager) of the municipal authority within 30 days after the request. It is valid for one year from the date of issue, unless of changes in urban area (in this case it is necessary a new request.)

Building Permission: It is a document released from the city hall where the building is located.

Certificate of Habitability: it is a document that certificates the safety, hygiene, healthiness and energy saving of the buildings and of the structure. It is released by the municipality where the building is located.

Cadastre: In the Land Registry Office it is possible to verify the exact consistency of the property checking all the filed documents. In the specific case, it is necessary to notice the cadastral plan and compare it with the current state of the property.

Condominium: The condominium regulations sets up the relationship between the parties to the common use of the property (rights, obligations and prohibitions).

 

PRELIMINARY CONTRACT

 

Once the buyer has chosen his/her property and checked out everything, in order to block the agreed price, he has to sign a Preliminary Sale Contract, paying a deposit. In this way the buyer communicates in writing to the mediator his/her intention to buy, committing him/herself to buy the property in question paying the previously agreed amount.

The Preliminary Contract fixes the length of the proposal, pointing out its irrevocability; outlines the Conditions of Payment and the related deadlines, establishes the mediator’s commission, calculating additional expenses and possible return of the non interest-bearing deposit  (paid at the signing of the contract).

It 'good to know that it is irrevocable only for the buyer, the owner is free to reject the offer.

Once it is accepted, however, both parties will be obliged to comply with the commitment.

Preliminary contract and acceptance, however, are not the final contract, but anticipate its completion.

A preliminary contract must have the following information:

Description of the property;
Statement of the buyer that certify he/she has previously visited the property.
Commitment to purchase by public deed, within an agreed date;
Price and terms of payment.

 

THE DEPOSIT

 

In order to make more binding the sign of the preliminary contract, the buyer will transfer to the seller a sum of money, known as "deposit".  It is normally paid at the sign of the compromise (or preliminary contract).

The confirmatory deposit is an advance payment on the purchase price of the property, it is paid by the buyer at the conclusion of the compromise. Normally, the amount is around 10-15% of the sum established for purchase.

In this way, both sides are committed to conclude the deal. If the buyer terminate the deal, he would lose the deposit paid, if the seller withdraws, he/she must reimburse the buyer the double of the amount in question.

 

THE COMPROMISE

 

Once the seller accepts the purchase proposal within the time allowed, the compromise of purchase is the next step: a Preliminary Contract to the Public Deed of Sale that both parties will sign before the agreed date. The compromise for purchase can be entered either as a deed, or as not Authenticated Private Writing.

For this reason, in any case, the buyer must obtain from the seller a Guarantee saying that the property is free from constraints (or that it will be by the date of the notarial deed). In addition, the buyer is required to ensure that he will be given a copy of the following documents: title deed, Cadastral registration, condominium regulations and tables of the Millesimals related to the property, any renting contract, and any mortgage on the property.

The compromise of purchase of the property should include the following information:

  Sign of the deed’s date;
 Name of the notary who draw up the deed;
  Personal details of the parties;
 Description of the property and its pertinences;
 Price of the property;
 Payment’s method of the agreed amount;
 Indication of the amount paid as deposit, confirmatory deposit and / or penalty deposit;
A declaration that certifies the absence of mortgages and / or other bonds;
Declaration witnessing the regularity of the property in relation to urban real estate legislation;
A statement certifying that any abuses were condoned (building amnesty).

 

THE FINAL DEED

 

The final deed is the final act of the real estate negotiation. It is, in fact, the real bill of sale that once signed lets the property pass from the seller to the new owner.

It is stipulated by the notary and the buyer has all the information required to identify the property at issue (that should already be mentioned in the agreement).

The inspections about mortgages, building plan sanctions and town planning problems related to the property can be entrusted to the notary.

The notary, however, has the burden to register the act within 20 days, paying the related taxes on the buyer’s behalf.

In addition, the notary has to transcribe the deed to the Land Agency as soon as possible. The buyer should require a copy of the condominium regulations, any invoices concerning the property’s works. Receipts are really important: It is important to get one for each transferred payment.

The notary must ensure that the seller will provide the following documents: 

ID card and fiscal code
Deed of previous purchase; 
Declaration of inheritance in which it is understood the property to be sold; 
Licences and building permits with possible variations; 
Certificate of Habitability
Building sanction requests with proof of payment; 
Act of indemnity
Plans
Cadastral certificates.

 

TAXES ON THE SALE

 

The taxes on the sale (Registration’s tax, Mortgage’s tax, Cadastral tax, VAT + cost of the duty stamp) may change in case they are related to your first or second home.

TAXES ON THE SALE

Find out what fiscal costs you have to pay for your first or second home.

Seller

VAT

Registration’s taxes

Mortgage’s taxes

Cadastral taxes

First home

Private

-

3%

168€

168€

Building company who completed

the works from less than 4 years

4%

168€

168€

168€

Others

-

3%

168€

168€

Second home

Private

-

7%

2%

1%

Building company who completed

the works from less than 4 years

10%

168€

168€

168€

Others

-

7%

2%

1%

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The Real Estate Agency Prendocasa Immobiliare S.r.l. always takes the opportunity to make a name for itself abroad. Therefore, in October 2009, at the 7th edition of the International Real Estate Exhibition in Moscow, where experts of the sector and the best finance professionals worldwide have met, we have joined the event by publishing, in a popular magazine, some of our best properties and explaining thanks to which approach an investment in real estate gets the most reliable and conscientious choice.
The exhibition "Moscow International Investment Show" has offered our agency the chance to strengthen the exchange of contacts with foreign clients, offering the best properties and thereby enhancing the region of Calabria, which has been the choice of many people who have decided to invest in an holiday home between the overwhelming beauty of the sea and the unspoiled beauty of the nature.

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In a place full of contrasts, where the Gulf of Tropea harbors dozens of bays and where you can enjoy the beauty of the turquoise sea and the unique scent of the Mediterranean, is located an ancient fisher town, named Briatico. Every morning, you can buy good and fresh seafood directly from the boats. Briatico, situated on the Tyrrhenian coast, is a beloved touristic place, characterized by crystal sea and sandy beaches, rocky and wild coasts, offering a unique beauty panorama. Also, you can taste the gastronomic treasures of Calabria and experience the ancient folk traditions of the place. Briatico is one of the best destinations for those, who enjoy the quiet, but at the same time want to live within short distance from the lively towns of Tropea, a destination for tourists from all over the world, and Pizzo, with its spectacular view over the sea and its monuments and the ancient village, that remain forever in the hearts of those who visit this city.

In only 1 hour drive, you can immerse yourself in the green woods and in the beauty of the mountains of Sila. Only 30 minutes from the international airport of Lamezia Terme and 15 minutes from the train station.

To visit: the ruins of the ancient castle, which has been destroyed by the earthquake in 1783; the Tower of St. Irene and La Rocchetta, the only  remains of a complex defensive system, directly on the beach; the Church “Matrice di San Nicola di Bari” that shelters most of the works that adorned the religious buildings of  the erstwhile village.

Beaches: Punta Safò and La Torretta, where you will find huge expanses of sandy beaches, and Punta Scrugli, La Brace, Sant’Irene, who, with their mixture of sandy beaches and cliffs are, however, ideal for diving.

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