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| | | The Purchase process |
There are two words in particular that you must be familiar with they are "Compremesso" and "Rogito" These are
the two contractual stages to owning a home in Italy. The Compremesso is the preliminary contract where by you secure your purchase with a deposit called a "caparra" . The Rogito is the final contract i.e: the sale of the house is finalised.
If you find your dream house and you want to make an offer the estate agent may ask you to sign a "Proposta irrevocabile d'acquisto". Contrary to its translation - "irrevocable proposal to
buy" It is not binding and you have not reserved your home despite an offer price and even a written acceptance by the vendor. The proposal is only enforceable between the vendor and the estate agent. As such, within the time limit stipulated within the proposal, if the estate agent is approached by another buyer who makes a better offer for the same property, the agent can (although should not out of professional courtesy) make another "irrevocable proposal to buy" for the
same property without your knowledge. You haven't reserved your property until you sign the "Compremesso".
| Preliminary Contract - Compremesso |
If a price is agreed upon between the vendor and buyer for the property a preliminary contract or "Compremesso" is
drawn up. The Compremesso is composed of:
Description of the Vendor and Buyer
Description of the property to be sold
The Sale Price
The deposit (caparra or deposito) varies but is usually around a third of the Sale price.
Date of the Final Contract (Rogito)
The Compremesso is proof of intention to buy and is binding in a court of law if the Compremesso
is registered with the local Registration Tax office. Once both you and the vendor have signed the Compremesso you are both committed to the transfer of the property. You may still withdraw at risk of loosing your deposit. The vendor may also withdraw from the Compremesso but will have to return the deposit plus pay a penalty of the same again. Under these terms a Compremesso
contract is very rarely broken and inevitably leads to the signing of the final contract or " Rogito"
Cost = deposit of 30% of Sale price approx.
| Tax Code - Codice Fiscale |
Assuming all goes well (and you don't want to loose your deposit), you will want to buy the house
and sign the final contract (Rogito). But, before doing so you will need to have a tax code called a Codice Fiscale in order for you to pay tax on the building. The Codice Fiscale works in much the same way as a National Insurance number and is easy to apply for.
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| | | | Property and Real Estate For Sale In Italy. Italian Home Farmhouses Villas Apartments Presented with our Italian Partner Estate Agent | All material on this site is based on information that we consider reliable, but because it has been supplied by third parties, we cannot represent
that it is accurate or complete and should not be relied on as such.
All offerings are subject to errors, omissions, change of price or withdrawal without notice.
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