There are very few rules about who can buy a house in Italy. If your home country has reciprocity with Italy, then you can buy here. However, merely owning a home does not give you the right to live in Italy; if necessary you will still need a visa.
The buying process nowadays offers much more security for the buyer, and the stories that used to fill the internet about people being gulled into buying an illegal property are fortunately much less common. However, it still does happen, but usually with the connivance of buyer and seller and sometimes the agent.
You will be paying the agent your commission not only because they have the house for sale, but because they will do due diligence and make sure the house you are buying is exactly what you have seen. They are responsible for all the money laundering legislation, gathering all the documentation to allow the notary to stipulate the act of sale, as well as providing answers to all your questions and queries and generally making the purchase of your Italian home risk free and smooth.
modicasa charges a flat rate of commission of 3% of the price paid for the property. There is no IVA (VAT/sales tax) to add to this commission, so on a sale price of 100.000 euros you will pay the agency 3000 euros. We have a minimum charge of 2000 euros, so a purchase price of 50.000 euros will attract a commission of 2000 euros.
Unlike most agencies which take their commission at compromesso, we ask for our commission at the final act of sale, as we believe our job doesn’t end when your offer is accepted.
As most of our buyers are not from Sicily, we also help with the utilities and services without extra charge, and help you with advice and answers before you learn to go it alone. We will assist with moving money to pay for the purchase etc, and help with translation.
The agent has the obligation to register any compromesso o proposta that becomes a compromesso at the tax office. The costs of this are at the charge of the buyer as the tax paid for the registration becomes deductible at the final atto. Costs are calculated as 200 euros + 0.5% of the caparra paid + one or two tax stamps of 16 euros each. If the agent pays this for you at the registration you will be expected to refund the agent. If you have an Italian bank account the amount can be deducted directly from your bank account.
