Whether it’s summer or winter, the Val Badia is the perfect setting to live in: fresh air, endless activities, rich culture, UNESCO-listed site, dramatic landscapes are just a few to name. It doesn’t take long to fall in love with the valley, just as has happened for many of our clients, who came as tourists and left as owners of stunning properties in the mesmerising valley. However, buying in a foreign country and dealing with foreign bureaucracy could be challenging, confusing, and sometimes even intimidating. Luckily for us, there are no particular legal restrictions on foreign citizens buying a property in Italy, and with our straightforward approach, everything will be even smoother.
The Buyers’ Pocket Guide aims to be a quick and easy way to have the essential information about the buying process, focusing on our foreign clients’ most frequently asked questions. Read on to find the answer to your question. If your question is not here, please fill in the contact form; we will be in touch within 24H.
To buy a house in Italy, you will need the following documents:
Tax code. The tax code (codice fiscale), comparable to the National Security Number, is a unique personal number comprising letters and numbers used to pay taxes and any other transaction. Without it, you cannot proceed with the buying of the house. You can apply for it by yourself at the Italian Embassy/Consulate of your country or we can request one on your behalf upon sending back the fillable pdf form by email.
Read on the next question for the differences among these contracts.
We are in contact with local banks and would be happy to put you in touch with an English-German-speaking mortgage advisor. As for many other countries across Europe, the procedure is always the same: the bank will thoroughly review your finances and ask for insights about the property you will buy. The bank will release the funds (generally the bank finances up to 50%) only after carrying out the relevant checks.
The taxes of buying a home in the Badia Valley and Italy vary depending on whether the seller is a private individual, a non-VAT registered entity or (construction company selling after five years from the building of the property) a VAT registered entity (construction company selling within five years from the construction) and whether tax breaks apply for the first house purchase.
The stamp duty is paid on the cadastral value (See the visura for the cadastral value of the house);
The following table explains how much taxes differ.
Foreign buyers are also entitled to first home benefits, provided that the following requirements are met:
Alongside the taxes and the security deposit, consider the notary expenses and our commission (3% on the purchase price agreed).
Our fee is 3% + VAT on the purchase price agreed.
With the handover of the property, the major ongoing costs for the new owner are:
The buyers’ pocket guide is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice. We always encourage you to reach out to an advisor regarding your own situation.
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Did you know that 80% of properties are sold before being published online?