I'm considering buying a property in Italy and this gave me a very clear picture of what I may be facing in addition to the cost of the property thank you very much
David, I’m glad I found your site and I started to explore and learn about property acquisition in Italy. It has my interest for sure. I live in the desert of Las Vegas, and Italy looks so green! More to follow and have a great day!
Hi Carl, thank you 🙏 Very important to drink plenty of beer while in the desert LOL Italy has a few extra pluses, one of them is the amazing landscape, the other thee abundance of historic site! Let me know if you need any more info regarding purchasing in Italy. 🙏
Thank you so much for your information - we have just started looking for an Italian property but further north than Puglia. Your information is very clear and helpful. Its nice to know that we don't have to travel to Italy to realise our retirement dream as it is a long way from Australia.
Same with me. I'm planning on returning home after many years in Australia. I will be searching through Puglia and will definitely need the services of a property finder.
Great video. In the past, I’ve indeed been told to also make sure that a geometra goes over the property to make sure everything (size, encroachments, windows placements and so forth) is legal. Seems like it’s not such a bad idea. You just got yourself a new subscriber.
Great, happy to know that the informations are useful 🙏 happy hunting and make sure you follow the instructions found on the series called ‘remote purchasing ‘ you will avoid unforeseen issues 🙏
Enjoyed David, Great idea helping people with real estate purchasing in Puglia. Looking forward ti meeting you some time in 2022. Great info and Thank You
i dont mean to be offtopic but does anyone know a trick to get back into an instagram account..? I was stupid lost my login password. I appreciate any tricks you can give me
Great presentation. Given the current unrest in the US and that I now have received my Italian citizenship I will be moving to Southern Italy this year once Covid permits. If I end up in the Solento region I will be sure to contact you. Thx
Davide you are fabulous! I just started following you. I will be coming over to Italy (fingers crossed) next year. I would love to find a property… we are just beginning our dream search for our future home. You have inspired us to come and look at the area you so lovingly share with all of us . I look forward to more videos and hopefully meeting you one day.
Hi Jennifer, thank you for joining along and be part of this extraordinary journey! Helping people realising their dreams of owning and managing a property in Italy is making me extremely happy!!
How long does it take from placing the offer to finalaze the purchase? Does it take longer for non Italian residents? What about these cost in 2024? Has anything changed?
The length is related to the paper work being in line, and the buyer having the funds ready. It can take anywhere between a week and months, it very much depends…. The informations are still valid, although my recent video on Remote Purchasing, purchase costs, will be more up to date 🙏
Video fatto molto bene,in maniera concisa e semplice. Very impressed with your english. Se Dio vuole fra due anni mi trasferiro' con mia moglie in Abruzzo al confine con le Marche (ci sono delle agevolazioni fiscali) e il tuo video e' di grande aiuto, specialmente per mia moglie (americana) che ha molte apprensioni con il sistema real estate in Italia. Grazie
Ti ringrazio! Il sistema italiano è estremamente sicuro, forse tra i più macchinosi, vista la storicità del nostro paese. Rimane l’importanza di farsi seguire da un avvocato specializzato nel settore immobiliare, durante tutto il processo.
Thanks for all the explanations, th're very helpful :) Suppose I bought a mortgage using a loan in order to rent it, are there any additional taxes I've to pay regularly (yearly or monthly)?
Learning about additional costs after agreeing on a price can be very upsetting. At times can interfere with the enthusiasm related to the new purchase. Better to know everything before. Charges are not to different from other countries, but sometime people forget to ask.
Grazie David come sempre perfetto. In Sicilia non ho fatto niente, se tutto va bene vado giù in Calabria per la metà di marzo e se trovo la propieta giusta la chiamo per avere il suo servizio professionale. Giuseppe
Just the service I will be needing soon. Grazie mille. Lucky me having watched your interview with DauvO at a cafe in the beautiful piazza of Galatino.
I love that piazza, has an incredible energy!! Spending the day with Dauvo was fantastic and yes a really special way to end it! Happy to be of assistance My email davide@salentowithlove.com Also present on Instagram 🙏
Best split up of the buying costs so far! Thank you for the video! Really helped :) Is it the agents job to pit the utilities in the buyers name. I read that it is, but doesn't seem to be practiced.
Great Video! I purchased a house in Bagheria in 2017 and your figures are exact. I would love to explore the opportunities to purchase a property in Puglia.
Not that many thank god! I’m in the process of producing a video, talking about the issues when purchasing form a private seller You may think you are saving a few thousand euros of commission, but you never know what you are really buying
Molto grazie, Davide for a concise explanation of property acquisition cost. Paying the 3% realtor's fee prior to closing isn't wise. Especially, if issues arise with property such as: title ownership, liens, or property structural damage that a reasonable buyer would not complete the purchase. Or if the seller refuses to close. In such cases, would the buyer be refunded the 3%?
In many cases you don’t have an option, it is the way the law regulates real estate activities 🙏 Having a realtor lawyer assisting you through the process are the money best spent 🙏⭐️
@@fabio6864 protecting from what exactly? The caparra confirmatoria, becomes a legal agreement between the parties, regulated by the Italian law, to fulfil the contract obligation’s within the terms agreed
It depends if the property has the elements to become a commercial property. A Geometra will be able to investigate the property in question and let you know.
This is educational. Thanks so much for all this information! I am buying a house in Italy, but it’s in Viterbo, Lazio. I would hire you for sure if it were in Puglia. I have a question if you don’t mind. Do I as the buyer have to find a Notary, or is this something the real state agent does? And do I get to chose a notary? Thank you so much!
Hi Marlos, I may be a little far, but a strongly recommend you get a real estate attorney to support you through the process!! In regards to your question, as a buyer YOU choose the notary and the method of payment!
Hello, great videos! I wonder if it’s possible to buy a property in shared way between several people, but not as in married couple. For example, between three friends. Thanks!
Thank you for your kind words and for following the channel. In answer to your question, absolutely YES, it’s called Pro Quota o Con Proprietà. A very simple process and without any extra costs.
I have a question about the 2%-9%. My understanding is if you are Italian and AIRE registered and live in the USA, You can still get the 2% tax if it is your first home in Italy and you do not have to move your residence to Italy. Is this your understanding?
My GGF was Italian and through that connection I'd like to request IT citizenship. However, all papers were lost in WWI, WWII and Balkans wars. I don't even have his birth certificate. I'm pretty sure documents were lost in IT during time, as well. I don't know much about my GGF so I can't provide info. Should I keep on going that way, or simply quit and go for another visa type? Thanks! 😊
Hard question, you need to answer that accordingly with the paperwork you may have. Getting a different visa, doesn’t stop you from continuing pursuing citizenship 🙏
I am interested in exploring properties (house and lot) near Rome , I like La Gustiniana and La Storta that I have already visited. My purchase window is 2-years once I found a property that I like. If apartment, it will be in Rome…I like NW Ponte Milvio near the commercial area. Thanks for any insight as far as size and price and other fees/closing costs associated with the purchase.
In italy agents do charge up to 5% although 3% is the normal fee. You then may employ the services of a realtor attorney or someone representing you, this would be an additional charge
so for a 500 euro property can expect about 22 euro cost of purchase? We are considering a relocation move in the next 2 years. Will need a retired persons visa w significant assets in US - cash purchase. . Not planning on purchasing new construction. Looking for something in Tuscan countrysice.. looking to create a relationship with a good realtor and Italian relocation attorney. 200-300 sqm 400-600US. with a pool in the countryside. Please provide how to establish communications to interview you or someone you may refer for Tuscany.
I loved this video and subscribed! I would like to add a little note from a resident in the US perspective. In the US the commission to the real estate agent is usually paid by the seller and it is in the 5-6% range. This is why when I will sell my home I am going to increase the asking price by at least 3%. I consider it immoral; both should pay for it but obviously only 3% each. Also, as far as I know, you can buy the property as "prima casa" with the intention to transfer the residency there within 18 months. If this does not happen in a timely fashion the Agenzia delle Entrate will charge the owner with a 7% (the difference between 2% and 9%), plus fees, penalties etc. Am I correct that it is 18 and not 6 months?
Welcome on board! You’re correct with the 18 months time limit to register your residency, not totally correct about the 7% difference in case of not complying
@@salentowithlove3314 great, thank you. I just sent a message through your website about my project to move back to Italy. I watched several other videos of yours and I'm pleased with what i learned. Thank you
Hi Sergio, you don’t hire a notaio, you need a notaio to do the closing. I would suggest getting a lawyer doing a basic due diligence on the title, they can also answer your questions with regards to taxes 🙏 Good luck with your transaction
Dear Sir I have a few questions as a new resident in Italy! 1) In case I buy more then 1 property, is it allowed to rent out some of them by the way of AirBnb or must I have a authorisation from the government to do so? (2) Can I use my assets abroad and bank statements to get a mortgage in Italy? Awaiting for your answer. Best Regards, Johan Nobels
Can I buy a residential property for my EU registered company as an investment asset and how then the purchasing cost structure looks like? Does the Imposta di Registro stays at the same value of 9% or it is different as there is not the issue of Prima Casa involved. Thank you!
Your question sound convoluted, but not really. If you purchase a property using a company structure, your imposta di registro is 9% of the purchasing price and not of the cadastral value
Hello, I have watched all your videos on purchasing a property in Italy. I have had my offer to purchase a house in Guglionesi, Molisse accepted. I have signed some paperwork, but have now been told by the notary engaged by Immobiliare Caserio that Australians cannot purchase property in Italy. Is this correct?? Can you assist with this matter? Or can you recommend a notary to me for this matter? Thank you. Eileen
Hi Ellen, sorry to hear about your experience, like I say I’m my videos, getting a real estate lawyer right from the start is paramount if you want to avoid this kind of scenarios Unfortunately nothing I can do at this stage Best of luck 🤞
We are going to Calabria at the end of this month, hopefully to find and buy a property. We do not have a representive, or contact to help us with the buying process. We have two properties, both being sold by private owners, so we don't really need to find a house. Is this something you would help with?
Hi Ed, I think getting the assistance from a legal rappresentative is essential!! Perhaps you can reach out to Manlio Gervasi at C Legal Best of luck 🤞
tks for all this informations. i m startet the search in puglia nd now i found something interesting. maybe i need u‘re assistance, or u could do it, for the hole process.
Ciao Davide. Do you also have a video about buying agricultural land? I’m curious if the stamp duty of 15% is charged on the price of purchase or the cadastral value?
@@mandylentz Hi Mandy, your question is very specific and I think you may need an Italian accountant to help set up the correct Stracture. The Piccola Proprietà Contadina PPC could be the best way forward, but I’m not very familiar with the requirements Best of luck with your plan Davide
How are the property values in Salento? In other words if I buy and use as an Air BNB will I get tourist activity? Are there cities nearby that are more tourist friendly?
Salento is one of the most sophisticated areas of south of italy. Tourist activities are growing at a very fast paste, with cities like Lecce, galatina, nardo, gallipoli, Otranto and many more attracting thousands of visitors. I would encourage you to research the area a little more.
Hello Davide, Your video is perfect in explaining the costs. Thank you. I am a Realtor in Toronto, Ontario, Canada. I would like to retire in Europe, Italy being my first choice destination. Can you recommend a few reputable sites to look at property listings for sale. I will be looking for one storey homes. I look forward to hearing back from you. Best regards, Jessika
Hi Jessika, thank you for your comment and for jumping on board. The main sites are idealista and immobiliare . IT Although when it comes to relocation I always suggest renting for a year, perhaps in 3/4 different areas. I have personally created a process allowing people to go through the process totally remotely, but when it comes to relocation I do advise to come and live the place for a while. Hopefully I was helpful 🙏
Wonderful instructions. One question Davide: As an American, are you able to borrow money to Italian banks, after you have placed the 30% down for a property? Or getting a Mortgage would be best in US?
Hi Jetmir, thank you for your comment. In theory mortgages are always better if obtained in the country of residency, but if you have a good enough income and your finances in order you can obtain a mortgage in Italy (not straightforward)
@@salentowithlove3314 I get that.. I have 15 or so in the states. On a 500K Euro flat in Roma, at .09% as second home or luxury what would the rough taxes be?
@@Earb86 if you’re trying to confuse me, you have almost succeeded. you’re asking about annual tax, is italy called IMU, this tax is paid every semestre. While the Imposta di registro or purchase tax is only paid once, at the time of purchasing the property. Both taxes need to be calculated once you have the details of the property and the cadastral value.
Hi Davide - before you are looking at a property can you ask the Cadastral value? Wondering how you would know what to offer if you do not know the true price. Also, do you pay VAT tax if you are not an EU citizen? Thx, Donna
Hummmm I can tell you’re a bit mixed up 😃 The cadastral value is only a piece of information needed to work out how much stamp duty you need to pay. Making an offer or ascertain the true value of a property is down to the people on the ground! Paying vat on what?
@@salentowithlove3314 Sorry, it was clear in my head! I am an American and Italian tax structure is unfamiliar to me! If I am interested in purchasing a property in Italy and want to make an offer on it how do I find out the Cadastral value of the property so I may then find out the percentages I would eventually owe? I want to make sure I can afford the taxes but don’t want to make an offer until I am certain. Also, VAT on that property? How can I figure this out ahead? Someone told me that you don’t pay VAT unless the property is new and only if you are an EU citizen. Is this correct? Thank you for taking the time to answer!
@@donnawarren7112 don’t worry I know, navigating another country taxation sometime can be challenging. I would suggest getting a professional to follow you step by step and don’t rely on someone told me. In regards to your questions: The agency or the person who’s selling the property should make this piece of information available. How can you make an offer if you haven’t seen the cadastral sheet or the Planimetria catastale? Offers in Italy are legally binding and making an offer without knowing what your buying can be an issue. In regards to Iva, it applies at a reduce rate, if you’re buying from a construction company. Hopefully this answers are clear. If you would like to engage our consultation service, please email me on: Info@salentowithlove.com Best D
@@salentowithlove3314 Thankyou for your answer. I also wanted to know about the 4% duty. I want to buy a house in Italy but I also have a house in Budapest, does this count as a second house or does that rule only apply to Italy. Which area are you based in. I am new to your channel.
@@stephendudas4167 I cover the area of Salento, Puglia. For any more support or consultation, feel free to send us an email and arrange a consultation call Info@salentowithlove.com
A property founder's fee is 1.5% What fee structure would apply for a real estate attorney? Can a property finder act as power of attorney or just a real estate attorney? Grazie.
Hi Ken, thanks for your enquiry. Our fees include negotiating the best purchasing price and assisting you by being present with the notary (Notaio) during the completion stages. If you put in place a power of attorney ( delega or procura), we can act on your behalf and complete the purchase for you. The additional charges are related to the making of the ‘’procura’’ and the translation of all relevant documents, our fees remain unchanged.
Hi, can I ask, is the agency fee regulated as to how much they can charge. I looked at a small 30qm property with an asking price of 10000 euro. The agency said their fee was 4000+iva, yes 4000 euro plus notary, taxes etc on top of that.
Unfortunately not and you have bumped into a bad one!! Majority of them charge 3k for sales under 100k which still a robbery, but that’s the name of the game.
Ciao Simon, se il costruttore vende tramite un’agenzia dovrai pagare anche la percentuale pattuita con l’agenzia. L’IVA al 4% e l’agenzia sono due cose completamente diverse e non vanno confuse. Comunque se hai bisogno di chiarimenti mi puoi scrivere direttamente. Info@salentowithlove.com
The US has changed in Aug 2024 so that it will become more common for buyer to pay buyer agent, although the norm is still for seller to pay it as a cost of sale. speakind as a Texas Broker.so US us transitioning to be more like the rest of the world. percentages are always negotiable but generally 2.5-3% to each side of the deal for the repreasenting agents
Hi Karen, I have looked at the link, I am familiar with this type of initiatives, which I find very appealing if you do not mind the location. Real estate is about Location Location Location, and even if the property is given to you for free you still need to spend the same amount of money to refurb. Once these properties are fully refurb, they have little appeal on the resale market, limiting yourself from the option of re-selling. Also, worth taking into consideration the limits you have in the choice of the properties, which are limited to the ones repossessed by the local authorities. So once again a nice initiative if you are sold to the word €1.
Thank you for the guidance. I’ll send the link to your email. I’m in NYC and we are having a blizzard 🌨. Hope it’s sunny in the heel. Have a great day. Karen
@@karenwagner5372 Amazing weather today, I’m tempted to just drive to Otranto for a coffee. I’m glad the info was useful. Are you on ClubHouse? I would like to start a regular talk about real estate and Puglia.
Excellent video! Starting our process to venture into buying property in Terrasini, near Palermo Italy. I am new to your channel and will like to get in “comunicación” directly with you, if possible
@@salentowithlove3314 I have a question about that too! I keep reading 3% + VAT. If the agent is IVA registered, is that an additional 4% or 22% on the purchase price?
Davide Mengoli thank you can you send me your contact information, we ae looking for a casita or Villa with land suitable for an AB&B in the piedmiont area or your area , we are not sure Andrew from Canada
Clear and easy overview of the costs associated with closing a real estate purchase in your area of Italy. Grazie! 🙂
Great, thank you 🙏
The most comprehensive description of costs that I have seen. Thank you
Thank you, I really appreciate your comment, although this video is a few years old 🙏⭐️
I'm considering buying a property in Italy and this gave me a very clear picture of what I may be facing in addition to the cost of the property thank you very much
Great, glad I could help
Yet again concise and to the point. Just keeps it simple, well done Davide.
Thank you
David, I’m glad I found your site and I started to explore and learn about property acquisition in Italy. It has my interest for sure. I live in the desert of Las Vegas, and Italy looks so green! More to follow and have a great day!
Hi Carl, thank you 🙏
Very important to drink plenty of beer while in the desert LOL
Italy has a few extra pluses, one of them is the amazing landscape, the other thee abundance of historic site!
Let me know if you need any more info regarding purchasing in Italy. 🙏
Thank you so much for your information - we have just started looking for an Italian property but further north than Puglia. Your information is very clear and helpful. Its nice to know that we don't have to travel to Italy to realise our retirement dream as it is a long way from Australia.
Glad to hear the informations are useful 🙏
Same with me. I'm planning on returning home after many years in Australia. I will be searching through Puglia and will definitely need the services of a property finder.
Great video. In the past, I’ve indeed been told to also make sure that a geometra goes over the property to make sure everything (size, encroachments, windows placements and so forth) is legal. Seems like it’s not such a bad idea. You just got yourself a new subscriber.
Always best to have a survey carried out!
I'm Italian, this video is very usefull for me as well, thanks.
Fantastic, glad to hear that 🙏
Thanks mate. That’s a very clear explanation. I’m looking at some properties around Puglia at the moment.
Great, happy to know that the informations are useful 🙏 happy hunting and make sure you follow the instructions found on the series called ‘remote purchasing ‘ you will avoid unforeseen issues 🙏
A very clear explanation of how the costs break down, thank you
Glad you have found the info useful
Thank you, Davide! This is just the right information I was looking for.
I’m glad it was of help 🙏
This video is vey useful. Thank you! I appreciate the level of detail.
Thank you although a little dated! I’m planning a new Q&A series
This is exactly the video I looked for!!!
Thank you 🙏🏼
By the way has something changed in the last 4 years? Thank you
Not really, although I did do a new video, covering a similar topic, you can find it in the playlist of Remote Purchasing 🙏
Enjoyed David, Great idea helping people with real estate purchasing in Puglia. Looking forward ti meeting you some time in 2022. Great info and Thank You
I love the idea of making people aware and autonomous, although a little helping hand can make the difference 🙏
Thank you for explaining the process so clearly. Very helpful, as always.
Thank you so much, for watching and sending a message 🙏
i dont mean to be offtopic but does anyone know a trick to get back into an instagram account..?
I was stupid lost my login password. I appreciate any tricks you can give me
Ciao Davide! Found your channel through DauvO.
Hi Belinda, welcome on board! Nice to have you here 🙏💫
Great information, thank you. I'm looking forward to my property search in Italy. So many beautiful places to choose from.
Absolutely
Excellent presentation. One thought - what about a structural survey cost?
Absolutely worth doing! Depending on the size of the property you can spend anything from €250 upwards.
Clear and detailed explanation, thank you for your video, hope to become your customer some day. BTW do you also operate in other parts of Italy?
Hi Ernst, thank you for your kind comment! Some elements of our services are available all over italy
Come ho detto prima, questo canale mi piace tanto. Ti ringrazio per la informazione. Ancora una volta, saluti dagli Stati Uniti.
Grazie a te Barry per seguire il canale 🙏 merry Christmas 🎄
Great presentation. Given the current unrest in the US and that I now have received my Italian citizenship I will be moving to Southern Italy this year once Covid permits. If I end up in the Solento region I will be sure to contact you. Thx
That would be great 👍 🙏
Davide you are fabulous! I just started following you. I will be coming over to Italy (fingers crossed) next year. I would love to find a property… we are just beginning our dream search for our future home. You have inspired us to come and look at the area you so lovingly share with all of us . I look forward to more videos and hopefully meeting you one day.
Hi Jennifer, thank you for joining along and be part of this extraordinary journey!
Helping people realising their dreams of owning and managing a property in Italy is making me extremely happy!!
How long does it take from placing the offer to finalaze the purchase? Does it take longer for non Italian residents? What about these cost in 2024? Has anything changed?
The length is related to the paper work being in line, and the buyer having the funds ready. It can take anywhere between a week and months, it very much depends….
The informations are still valid, although my recent video on Remote Purchasing, purchase costs, will be more up to date 🙏
Excelente y clara información!! Como siempre!!!
Muchisimas Gracias
Gracias 🙏
Video fatto molto bene,in maniera concisa e semplice. Very impressed with your english. Se Dio vuole fra due anni mi trasferiro' con mia moglie in Abruzzo al confine con le Marche (ci sono delle agevolazioni fiscali) e il tuo video e' di grande aiuto, specialmente per mia moglie (americana) che ha molte apprensioni con il sistema real estate in Italia. Grazie
Ti ringrazio!
Il sistema italiano è estremamente sicuro, forse tra i più macchinosi, vista la storicità del nostro paese. Rimane l’importanza di farsi seguire da un avvocato specializzato nel settore immobiliare, durante tutto il processo.
This has been very informative and very clear to understand thank you for sharing this.
Thank you
Thanks for all the explanations, th're very helpful :)
Suppose I bought a mortgage using a loan in order to rent it, are there any additional taxes I've to pay regularly (yearly or monthly)?
Great presentation! Do you have you agents in Calabria?
We have a legal team covering the country 🙏
It’s not just about location when choosing a place but understanding costs as well
Learning about additional costs after agreeing on a price can be very upsetting. At times can interfere with the enthusiasm related to the new purchase. Better to know everything before. Charges are not to different from other countries, but sometime people forget to ask.
Great video info.Are there annual property taxes like here in Canada, and other taxes paid annuale on that property. Grazie, Ciao.
In Italy the annual property tax is called IMU. Although we don’t have any property tax on your primary residence
Put down a carpet and some curtains, it can greatly reduce the echo in your videos. Thank you for the info.
Thank you for the advice, this video is a few years old, we have made a few improvements 🙏
Grazie David come sempre perfetto. In Sicilia non ho fatto niente, se tutto va bene vado giù in Calabria per la metà di marzo e se trovo la propieta giusta la chiamo per avere il suo servizio professionale. Giuseppe
Ciao Giuseppe, grazie del commento, quando sarai pronto, saremo qui a guidarti 🙏⭐️
Just the service I will be needing soon. Grazie mille. Lucky me having watched your interview with DauvO at a cafe in the beautiful piazza of Galatino.
I love that piazza, has an incredible energy!!
Spending the day with Dauvo was fantastic and yes a really special way to end it!
Happy to be of assistance
My email davide@salentowithlove.com
Also present on Instagram 🙏
Great video: the topic was presented with precision and transparency. Thank you.
Thank you, this was about a year ago, I think is time for a refresher…. Stand by people 🎉🙏
Thanks for opening my eyes as to what to expect 👏✌️
That’s great
Best split up of the buying costs so far! Thank you for the video! Really helped :)
Is it the agents job to pit the utilities in the buyers name. I read that it is, but doesn't seem to be practiced.
Glad the videos are of help!
Not the agent responsibility, but some do help
Great Video! I purchased a house in Bagheria in 2017 and your figures are exact. I would love to explore the opportunities to purchase a property in Puglia.
Happy to assist you!
@@salentowithlove3314 Do you have a portfolio of listings that you can send?
@@MAstanco no i don’t, part 1/2 of this two videos can explain what I do a little more in details.
ua-cam.com/video/fSLdSLqg0yA/v-deo.html
Finalmente una persona che ha spiegato chiaro. E possibile contattarlo perché voglio comprare una propieta in Italia . Grazie
Ciao Giuseppe, si basta mandare una mail a info@salentowithlove.com e organizzeremo una zoom call
Grazie
Davide
Great video, very informative. Do you help people overseas buy property from auctions in Italy?
Can you post s link to your website.
Hi Lyn, I don’t get involved with auctions
www.salentowithlove.com
Grazie David, il 13 di novembre scendo giù in Sicilia a vedere delle propieta e appena decido quale le mando un messaggio . Great informartation.
Perfetto, se posso essere di aiuto, sono qua 🙏
Great info! How many sellers try and sell without an agent? Seems like there would be incentive to buy from the seller direct.
Not that many thank god! I’m in the process of producing a video, talking about the issues when purchasing form a private seller
You may think you are saving a few thousand euros of commission, but you never know what you are really buying
Molto grazie, Davide for a concise explanation of property acquisition cost. Paying the 3% realtor's fee prior to closing isn't wise. Especially, if issues arise with property such as: title ownership, liens, or property structural damage that a reasonable buyer would not complete the purchase. Or if the seller refuses to close. In such cases, would the buyer be refunded the 3%?
In many cases you don’t have an option, it is the way the law regulates real estate activities 🙏
Having a realtor lawyer assisting you through the process are the money best spent 🙏⭐️
How can the 'caparra confirmatoria' protect the buyer during the purchasing process?
@@fabio6864 protecting from what exactly? The caparra confirmatoria, becomes a legal agreement between the parties, regulated by the Italian law, to fulfil the contract obligation’s within the terms agreed
Excellent video. I pray I would be able to buy a condo soon.
That’s fantastic
Can a EU/USA that is not an Italian citizin get a mortgage on a property? If so what are the typical terms? Thank you
Hi Shays thank you for watching this q&a the answer is yes. Not an easy process and only few specialised lenders do offer the product.
Regards
Davide
Great, very informative video, Do you if it’s possible to convert the C2 category properties to C1 category?
It depends if the property has the elements to become a commercial property. A Geometra will be able to investigate the property in question and let you know.
Thankyou so much, that's so informative.
Thank you, I should probably do an updated version 🙏
Amazing information. Thanks for all the efforts 👌
Hi Melanie, hopefully some of the info are relevant to your search for the ideal property in Italy.
@@salentowithlove3314 most definitely! Will be in contact about properties hopefully soon.
This is educational. Thanks so much for all this information! I am buying a house in Italy, but it’s in Viterbo, Lazio. I would hire you for sure if it were in Puglia. I have a question if you don’t mind. Do I as the buyer have to find a Notary, or is this something the real state agent does? And do I get to chose a notary? Thank you so much!
Hi Marlos, I may be a little far, but a strongly recommend you get a real estate attorney to support you through the process!!
In regards to your question, as a buyer YOU choose the notary and the method of payment!
@@salentowithlove3314 Thank you, much appreciated!
Hello, great videos!
I wonder if it’s possible to buy a property in shared way between several people, but not as in married couple. For example, between three friends. Thanks!
Thank you for your kind words and for following the channel.
In answer to your question, absolutely YES, it’s called Pro Quota o Con Proprietà. A very simple process and without any extra costs.
I have a question about the 2%-9%. My understanding is if you are Italian and AIRE registered and live in the USA, You can still get the 2% tax if it is your first home in Italy and you do not have to move your residence to Italy. Is this your understanding?
If you are registered on the IRE, you are eligible for the 2 % prima casa
Great level of detail. Do you know of a company like yours focusing on the Abruzzo/Molise areas?
Hi Jon, I don’t think it exist, but I’m happy to assist you remotely if possible!! I have seen your email and I will reply later 🙏
Sorry David any chance you have a web address for other properties? Grazie
I work as a finder and facilitator
My GGF was Italian and through that connection I'd like to request IT citizenship. However, all papers were lost in WWI, WWII and Balkans wars. I don't even have his birth certificate. I'm pretty sure documents were lost in IT during time, as well. I don't know much about my GGF so I can't provide info. Should I keep on going that way, or simply quit and go for another visa type? Thanks! 😊
Hard question, you need to answer that accordingly with the paperwork you may have.
Getting a different visa, doesn’t stop you from continuing pursuing citizenship 🙏
I am interested in exploring properties (house and lot) near Rome , I like La Gustiniana and La Storta that I have already visited. My purchase window is 2-years once I found a property that I like. If apartment, it will be in Rome…I like NW Ponte Milvio near the commercial area. Thanks for any insight as far as size and price and other fees/closing costs associated with the purchase.
I’m glad my videos have been of help! Let me know if you need any additional consultation or legal support
Most excellent Davide!!!!!
Thank you Paul 🙏
So its not 3% for the agent. Its 3% + 1.5% = 4.5% sales cost. Correct? Thank you !
In italy agents do charge up to 5% although 3% is the normal fee. You then may employ the services of a realtor attorney or someone representing you, this would be an additional charge
so for a 500 euro property can expect about 22 euro cost of purchase? We are considering a relocation move in the next 2 years. Will need a retired persons visa w significant assets in US - cash purchase. . Not planning on purchasing new construction. Looking for something in Tuscan countrysice.. looking to create a relationship with a good realtor and Italian relocation attorney. 200-300 sqm 400-600US. with a pool in the countryside. Please provide how to establish communications to interview you or someone you may refer for Tuscany.
Great to start your planning early. We could assist you through our consulting process and also advise on a legal firm
Beautiful video and well explained thank you
Thank you 🙏
I loved this video and subscribed! I would like to add a little note from a resident in the US perspective. In the US the commission to the real estate agent is usually paid by the seller and it is in the 5-6% range. This is why when I will sell my home I am going to increase the asking price by at least 3%. I consider it immoral; both should pay for it but obviously only 3% each. Also, as far as I know, you can buy the property as "prima casa" with the intention to transfer the residency there within 18 months. If this does not happen in a timely fashion the Agenzia delle Entrate will charge the owner with a 7% (the difference between 2% and 9%), plus fees, penalties etc. Am I correct that it is 18 and not 6 months?
Welcome on board! You’re correct with the 18 months time limit to register your residency, not totally correct about the 7% difference in case of not complying
@@salentowithlove3314 great, thank you. I just sent a message through your website about my project to move back to Italy. I watched several other videos of yours and I'm pleased with what i learned. Thank you
Great stuff, thanks for sharing!
Glad you have found the informations useful
I’m buying from a relative. Paying cash. Hired a notaio in Italy. What about American taxes?
Hi Sergio, you don’t hire a notaio, you need a notaio to do the closing. I would suggest getting a lawyer doing a basic due diligence on the title, they can also answer your questions with regards to taxes 🙏
Good luck with your transaction
have your channel through DauvO - thanks for the info
That’s great! Happy to be of help 🙏
Dear Sir
I have a few questions as a new resident in Italy!
1) In case I buy more then 1 property, is it allowed to rent out some of them by the way of AirBnb or must I have a authorisation from the government to do so? (2) Can I use my assets abroad and bank statements to get a mortgage in Italy? Awaiting for your answer.
Best Regards,
Johan Nobels
Hi Johan, I offer a consultation service, you can email info@salentowithlove.com and ask for more information on how to book
Best
Davide
1.5% is a fantastic price. I expected it to be higher
This video is a little old!! 3% is the current rate
Very interesting, thanks.
Glad it was of help, our new series, remote purchasing will cover in more details this aspect
Can I buy a residential property for my EU registered company as an investment asset and how then the purchasing cost structure looks like? Does the Imposta di Registro stays at the same value of 9% or it is different as there is not the issue of Prima Casa involved. Thank you!
Your question sound convoluted, but not really. If you purchase a property using a company structure, your imposta di registro is 9% of the purchasing price and not of the cadastral value
Hello, I have watched all your videos on purchasing a property in Italy. I have had my offer to purchase a house in Guglionesi, Molisse accepted. I have signed some paperwork, but have now been told by the notary engaged by Immobiliare Caserio that Australians cannot purchase property in Italy. Is this correct?? Can you assist with this matter? Or can you recommend a notary to me for this matter? Thank you. Eileen
Hi Ellen, sorry to hear about your experience, like I say I’m my videos, getting a real estate lawyer right from the start is paramount if you want to avoid this kind of scenarios
Unfortunately nothing I can do at this stage
Best of luck 🤞
Really good explaining it brilliant
Thank you 🙏
Thank you, very informative.
Little old the video, info are still accurate
Very informative. Thank you.
Great, that’s the idea 🙏
We are going to Calabria at the end of this month, hopefully to find and buy a property. We do not have a representive, or contact to help us with the buying process. We have two properties, both being sold by private owners, so we don't really need to find a house. Is this something you would help with?
Hi Ed, I think getting the assistance from a legal rappresentative is essential!!
Perhaps you can reach out to Manlio Gervasi at C Legal
Best of luck 🤞
tks for all this informations. i m startet the search in puglia nd now i found something interesting. maybe i need u‘re assistance, or u could do it, for the hole process.
Your choice, it depends how much your value time and your mental sanity 🙏🙌
Does this cost change if you are an italian citizen? My wife is dual US and Italian. I am dual US and German.
No difference ⭐️
Ciao Davide. Do you also have a video about buying agricultural land? I’m curious if the stamp duty of 15% is charged on the price of purchase or the cadastral value?
The percentage is charged on the purchasing price
@@salentowithlove3314 thank you so much for your reply! Is there a way to pay a lower stamp duty when you want to start an Agriturismo?
@@mandylentz Hi Mandy, your question is very specific and I think you may need an Italian accountant to help set up the correct Stracture. The Piccola Proprietà Contadina PPC could be the best way forward, but I’m not very familiar with the requirements
Best of luck with your plan
Davide
@@salentowithlove3314 thank you! We will have a look into that. 🙏🏼
How are the property values in Salento? In other words if I buy and use as an Air BNB will I get tourist activity? Are there cities nearby that are more tourist friendly?
Salento is one of the most sophisticated areas of south of italy. Tourist activities are growing at a very fast paste, with cities like Lecce, galatina, nardo, gallipoli, Otranto and many more attracting thousands of visitors. I would encourage you to research the area a little more.
Hello Davide, Your video is perfect in explaining the costs. Thank you.
I am a Realtor in Toronto, Ontario, Canada. I would like to retire in Europe, Italy being my first choice destination. Can you recommend a few reputable sites to look at property listings for sale. I will be looking for one storey homes. I look forward to hearing back from you.
Best regards,
Jessika
Hi Jessika, thank you for your comment and for jumping on board.
The main sites are idealista and immobiliare . IT
Although when it comes to relocation I always suggest renting for a year, perhaps in 3/4 different areas.
I have personally created a process allowing people to go through the process totally remotely, but when it comes to relocation I do advise to come and live the place for a while.
Hopefully I was helpful 🙏
Are there clauses that allow the buyer to withdraw if there are title issues or multiple owners who can’t agree?
Absolutely, plus if there is a title issue, that means the property is not transferable
@@salentowithlove3314 Grazie
Wonderful instructions. One question Davide: As an American, are you able to borrow money to Italian banks, after you have placed the 30% down for a property? Or getting a Mortgage would be best in US?
Hi Jetmir, thank you for your comment.
In theory mortgages are always better if obtained in the country of residency, but if you have a good enough income and your finances in order you can obtain a mortgage in Italy (not straightforward)
@@salentowithlove3314 Hi Davide, is there a way to reach out to you via email?
@@jtroshani Hi Jetmir, my email:
davide@salentowithlove.com
@@salentowithlove3314 Sent :)
Thank you so much this was very helpful
Great!! 🙏
What about an interpreter, isn't this a cost to be added at closing if a person does not speak Italian?
I have developed a formula that avoids the Additional costs of an interpreter and translation of all the contracts in the buyer’s language.
How does annual property taxes work?
You pay them every semester
@@salentowithlove3314 I get that.. I have 15 or so in the states. On a 500K Euro flat in Roma, at .09% as second home or luxury what would the rough taxes be?
@@Earb86 if you’re trying to confuse me, you have almost succeeded. you’re asking about annual tax, is italy called IMU, this tax is paid every semestre.
While the Imposta di registro or purchase tax is only paid once, at the time of purchasing the property. Both taxes need to be calculated once you have the details of the property and the cadastral value.
Hi Davide - before you are looking at a property can you ask the Cadastral value? Wondering how you would know what to offer if you do not know the true price. Also, do you pay VAT tax if you are not an EU citizen? Thx, Donna
Hummmm I can tell you’re a bit mixed up 😃
The cadastral value is only a piece of information needed to work out how much stamp duty you need to pay.
Making an offer or ascertain the true value of a property is down to the people on the ground!
Paying vat on what?
@@salentowithlove3314
Sorry, it was clear in my head! I am an American and Italian tax structure is unfamiliar to me!
If I am interested in purchasing a property in Italy and want to make an offer on it how do I find out the Cadastral value of the property so I may then find out the percentages I would eventually owe? I want to make sure I can afford the taxes but don’t want to make an offer until I am certain.
Also, VAT on that property? How can I figure this out ahead? Someone told me that you don’t pay VAT unless the property is new and only if you are an EU citizen. Is this correct?
Thank you for taking the time to answer!
@@donnawarren7112 don’t worry I know, navigating another country taxation sometime can be challenging.
I would suggest getting a professional to follow you step by step and don’t rely on someone told me.
In regards to your questions:
The agency or the person who’s selling the property should make this piece of information available. How can you make an offer if you haven’t seen the cadastral sheet or the Planimetria catastale? Offers in Italy are legally binding and making an offer without knowing what your buying can be an issue.
In regards to Iva, it applies at a reduce rate, if you’re buying from a construction company.
Hopefully this answers are clear.
If you would like to engage our consultation service, please email me on:
Info@salentowithlove.com
Best
D
Excellent!
Than you 🙏
Ciao, bongiourno
Do you charge that 1.5% for a property around 40 to 50 thousand euros?
Estate Agents they normally charge between 3/4k plus Iva for a property under 100k
@@salentowithlove3314 Thank you.
What about a solicitor ???
Always a good idea to have a solicitor representing you, if you’re not familiar with the system or the Italian language
@@salentowithlove3314 Thankyou for your answer. I also wanted to know about the 4% duty. I want to buy a house in Italy but I also have a house in Budapest, does this count as a second house or does that rule only apply to Italy. Which area are you based in. I am new to your channel.
@@stephendudas4167 I cover the area of Salento, Puglia.
For any more support or consultation, feel free to send us an email and arrange a consultation call
Info@salentowithlove.com
A property founder's fee is 1.5%
What fee structure would apply for a real estate attorney?
Can a property finder act as power of attorney or just a real estate attorney?
Grazie.
Hi Ken, thanks for your enquiry. Our fees include negotiating the best purchasing price and assisting you by being present with the notary (Notaio) during the completion stages.
If you put in place a power of attorney ( delega or procura), we can act on your behalf and complete the purchase for you. The additional charges are related to the making of the ‘’procura’’ and the translation of all relevant documents, our fees remain unchanged.
good job. thanks
Thank you
Hi, can I ask, is the agency fee regulated as to how much they can charge. I looked at a small 30qm property with an asking price of 10000 euro. The agency said their fee was 4000+iva, yes 4000 euro plus notary, taxes etc on top of that.
Unfortunately not and you have bumped into a bad one!! Majority of them charge 3k for sales under 100k which still a robbery, but that’s the name of the game.
@@salentowithlove3314 Thanks for the reply.
Firstly what could be the reason of buying property in Italy ( except being Italian or Italian descent) . In my opinion all reasons are gone now.
I love to hear peoples opinion, thank you for sharing it 🙌
quindi se compro via agenzia non pago 4% di IVA? Nel video dici che l'IVA si paga se si compra da un costruttore
Ciao Simon, se il costruttore vende tramite un’agenzia dovrai pagare anche la percentuale pattuita con l’agenzia. L’IVA al 4% e l’agenzia sono due cose completamente diverse e non vanno confuse. Comunque se hai bisogno di chiarimenti mi puoi scrivere direttamente.
Info@salentowithlove.com
good advice
Great
The US has changed in Aug 2024 so that it will become more common for buyer to pay buyer agent, although the norm is still for seller to pay it as a cost of sale. speakind as a Texas Broker.so US us transitioning to be more like the rest of the world.
percentages are always negotiable but generally 2.5-3% to each side of the deal for the repreasenting agents
I can’t foresee any changes coming soon here in italy, almost standard for the buyer to pay between 3 to 5% to the realtor
Hi Davide. I just sent over an article from CNN and would be interested in your thoughts. Thank you. Grazie!!
Hi Karen, can you please send me the link via email davide@salentowithlove.com
Hi Karen, I have looked at the link, I am familiar with this type of initiatives, which I find very appealing if you do not mind the location. Real estate is about Location Location Location, and even if the property is given to you for free you still need to spend the same amount of money to refurb.
Once these properties are fully refurb, they have little appeal on the resale market, limiting yourself from the option of re-selling. Also, worth taking into consideration the limits you have in the choice of the properties, which are limited to the ones repossessed by the local authorities. So once again a nice initiative if you are sold to the word €1.
Thank you for the guidance. I’ll send the link to your email. I’m in NYC and we are having a blizzard 🌨. Hope it’s sunny in the heel. Have a great day. Karen
@@karenwagner5372 Amazing weather today, I’m tempted to just drive to Otranto for a coffee. I’m glad the info was useful. Are you on ClubHouse? I would like to start a regular talk about real estate and Puglia.
Excellent video! Starting our process to venture into buying property in Terrasini, near Palermo Italy. I am new to your channel and will like to get in “comunicación” directly with you, if possible
I’m so excited for you!!!
You can reach out via email davide@salentowithlove.com and we can get a zoom call set up!
Talk soon
Thanks
Good
Great
3% + VAT
It depends if the agent is Iva registered or forfettario. Let’s not get to technical, in theory everything is plus Iva.
@@salentowithlove3314 I have a question about that too! I keep reading 3% + VAT. If the agent is IVA registered, is that an additional 4% or 22% on the purchase price?
@@shannonprinzo3846 the commission to the agent is usually 3% of the agreed purchase price
Davide Mengoli thank you can you send me your contact information, we ae looking for a casita or Villa with land suitable for an AB&B in the piedmiont area or your area , we are not sure Andrew from Canada
Hi Andrew, happy to assist further. Our email:
Info@salentowithlove.com
Best
D
Per tanti ormai è finito l’aceto; c’è rimasta giusto la breccia, la rena e l’badile!
Good info could improve presentation, never turn you back to the audience.
Thank you 🙏
rea