1712 Purchase costs

I have just been given a fugure of 17,000 euro to complet on the purchase on a house at 140,000 euro, i have been told this cost is for the Notary, registration and purchase tax is this about right.

Category
Legal

Submitted by Anonymous (not verified) on Fri, 10/28/2005 - 03:30

You might find this thread of use......

[url]http://www.italymag.co.uk/forums/showthread.php?t=1030&highlight=calculator[/url]

Good luck on the purchase!

Submitted by Anonymous (not verified) on Fri, 10/28/2005 - 03:42

[QUOTE=tuscanhills]You might find this thread of use......

[url]http://www.italymag.co.uk/forums/showthread.php?t=1030&highlight=calculator[/url]

Good luck on the purchase![/QUOTE]

Thank you, on the calculator it works out at 157,600, i have been quoted 161,200, why the difference, i have calculated at non residency, can i insist on the residency taxation?

Submitted by Anonymous (not verified) on Fri, 10/28/2005 - 04:30

Hi Kanea. The buying costs you quote seem unreasonably high to me. Even allowing for a 6% agents fee (?)

Regarding residency taxation; if you declare at the notarised Act Of Sale that you intend to become resident, then you will only pay the lower 3% 'Prima Casa' rate of tax. You then have to justify this by applying for residency at your local comune within 18 months or you will have to pay the rest (and a fine) Apply at a time when you intend to spend some time there, because they will send the local Vigili Urbani to pay you a friendly visit within a few days. Gaining residency is a once-and-for-all procedure and there is no compulsion to spend any particular amount of time in your home here; its not like you're under house arrest, after all!

Submitted by Anonymous (not verified) on Fri, 10/28/2005 - 05:55

[QUOTE=kanea]I have just been given a fugure of 17,000 euro to complet on the purchase on a house at 140,000 euro, i have been told this cost is for the Notary, registration and purchase tax is this about right.[/QUOTE]

Kanea, I don't know where are you buying, but €. 17.000 for a 140.000 purchase is really too much.
Here in Marche the total fee would be about €. 16.100 - all included:
- notary €. 1.350,00
- VAT €. 270,00
- registro and other taxes the remaining
so I really can't understand where the difference (about €. 1.000) is coming from.
Who gave you the figure: the notary or the agent ?
If it's the notary, remember that there is a fixed fee, he cannot increase it without justification.
If you like, send me a PM with more details

Submitted by Anonymous (not verified) on Fri, 10/28/2005 - 07:25

[QUOTE=notaio]Kanea, I don't know where are you buying, but €. 17.000 for a 140.000 purchase is really too much.
Here in Marche the total fee would be about €. 16.100 - all included:
- notary €. 1.350,00
- VAT €. 270,00
- registro and other taxes the remaining
so I really can't understand where the difference (about €. 1.000) is coming from.
Who gave you the figure: the notary or the agent ?
If it's the notary, remember that there is a fixed fee, he cannot increase it without justification.
If you like, send me a PM with more details[/QUOTE]

Marc, Thank you, very helpful, any idea what the fine is if you dont make it in the 18 months.

The agent has given me the figures via the Notary, i have now been advised that the current owner has declared (or wants to) the full 140,000 on the land register tax side of things.

Submitted by Anonymous (not verified) on Fri, 10/28/2005 - 10:00

[QUOTE=kanea]Marc, Thank you, very helpful, any idea what the fine is if you dont make it in the 18 months.

The agent has given me the figures via the Notary, i have now been advised that the current owner has declared (or wants to) the full 140,000 on the land register tax side of things.[/QUOTE]

If you don't become resident in 18 months you pay the taxes you saved (7%) plus a 30% added tax as sanction.
P.S.
€. 17.000 is still too much without explanations......

Submitted by Anonymous (not verified) on Mon, 11/14/2005 - 14:07

[QUOTE=Marc]Hi Kanea. The buying costs you quote seem unreasonably high to me. Even allowing for a 6% agents fee (?)

Regarding residency taxation; if you declare at the notarised Act Of Sale that you intend to become resident, then you will only pay the lower 3% 'Prima Casa' rate of tax. You then have to justify this by applying for residency at your local comune within 18 months or you will have to pay the rest (and a fine) Apply at a time when you intend to spend some time there, because they will send the local Vigili Urbani to pay you a friendly visit within a few days. Gaining residency is a once-and-for-all procedure and there is no compulsion to spend any particular amount of time in your home here; its not like you're under house arrest, after all![/QUOTE]

I thought applying for residency is a complicated procedure, and it could be denied at the end - for whatever reason.
What if I was denied the privilege? What is important - my intentions (an application) or the end result?
What if one gets the residency and then one's personal circumstances change. It's hard to forsee the future.

Submitted by Anonymous (not verified) on Mon, 11/14/2005 - 16:32

Applying for residency is a simple procedure. Assuming you have a Permesso di Soggiorno and documents for your house, all you need to do is go to your comune and fill out the forms. Granting you residency is not discretionary, at least, not if you are an EU citizen.
If your circumstances change within 5 years and you move elsewhere or sell your house, you'll have to pay the difference between the 3% 'prima casa' rate and the 10% higher rate.

Submitted by Anonymous (not verified) on Thu, 01/26/2006 - 15:02

marc when you go to the comune and fill out the forms for residency dont they ask what finances you have to live on i thought you had to prove that you have enough money

Submitted by Anonymous (not verified) on Thu, 01/26/2006 - 17:49

[QUOTE=Carolann]marc when you go to the comune and fill out the forms for residency dont they ask what finances you have to live on i thought you had to prove that you have enough money[/QUOTE]

No they just verify you're really living there.
It is quite different for non e.u. citizens, because they need a job in Italy if they want Permesso di Soggiorno and therefore residence.

Submitted by Anonymous (not verified) on Fri, 01/27/2006 - 12:35

can you also tell me if we are not resident will our ici tax be hire every year if so by what %

Submitted by Anonymous (not verified) on Mon, 01/30/2006 - 13:55

[QUOTE=Carolann]can you also tell me if we are not resident will our ici tax be hire every year if so by what %[/QUOTE]

The % is decided by you municipality (comune) and it is higher if it isn't the house where you live.

Submitted by Anonymous (not verified) on Tue, 01/31/2006 - 04:01

Go to the Aliquote website and search your province and Commune to get the figures for Main and 2nd homes

[url]http://www.ancicnc.it/ici/ici2000.asp[/url]

Submitted by Anonymous (not verified) on Tue, 01/31/2006 - 04:36

[QUOTE=Carolann]marc when you go to the comune and fill out the forms for residency dont they ask what finances you have to live on i thought you had to prove that you have enough money[/QUOTE]

The investigation into any finances, if done at all, would normally be done at the permesso stage, the residency application is simply a couple of forms with general details about you, indicating that the house in the comune is to be your residence, easy for EU citizens.