Shayne109

Becoming clearer

the agent quotes me

Cost of the property 15-16,000 € (which looks ok from the numerous
pictures i have. cannot get out there to view till mid jan)

Agency fee - 2,100 € + VAT

Contract assistance - around 2000 € (i assume translation etc)

Notary fee - around 1,500 € (from what you say i hope this is both stages)

Stamp duty and registration taxes - around 3500 € (to be confirmed)

Registration at catasto office - 500 €

so does this look fair or am i being had

modicasa

HAs this agent got a website?

OK the agent is saying 2100, so a minimum of 3% on a 70.000, - I charge minimum of 1500 - (Im in Sicily so comparable to basilicata)
Seems a tad much to me.

Contract assistance? translation should be 500 max. What assistance? its their job -

Notary fee, is about right. You dont have to sign a compromesso at the notaio.
Do you speak Italian?

Are you buying as prima casa or second home? 3500 is alot. If the house is 15000, then the catastal value cant be more than 10.000, so you are at 1000 max for tax - have you any documentation? email me it [email protected]

Registration at catasto? Not your problem.

Do you mean registration of the act? If so its 250/300 euros.

Shayne109

I quoted direct from the last e-mail i got from them.
it would be Prima Casa and i don't speak Italian.
The only details i have been sent is a basic discription
noting it needs a rewire a little roof work and some
general refurb (they did quote me and estimate of 40,000e to do
that for me) the only other information the sent me was
floor and land plans and a few pictures.

their site is http://www.l-g-properties.com/index.php

the place i was considering is http://www.l-g-properties.com/proper...ion=Basilicata

Jonnie-falafel

I didn't realise you hadn't actually seen the property yourself! Photos can be deceptive. I physically inspected about 20 I liked the look of. Some turned out to be wrecks. Unless you're an expert in rennovations I would get it looked over by an architect/geometra of your choice before you make any commitments on paper. I'm emphasising your choice so that they are independent of all parties with an interest in the sale - the vendor & the agent. Whatever estimates you get for rennovation make sure you have a sizeable contingency fund e.g. some friends were given estimates of €25-30k to do up a property. They are now €75k down the line and it's not finished! This is a worst case example but my own experience seems to bear this out... nobody wants to give you bad news here! Some builders etc. offer fixed price deals but they will add a huge premium to cover contingencies.

Shayne109

No not seen it yet i plan to pop out there in the new year.

i'll be going in eyes open hence all the info gathering here

i can deal with anything but major structural work myself
so i can minimise costs some there.

i'm told the house has no major problems
( i WILL be getting an independent survey )

the rest looks to be wiring, plaster, paint, and a few tiles
if its more i'll haggle accordingly.

37100

Modicasa. If you buy a second home before selling your first, can you pay prima casa tax?

modicasa

If you mean that you want to buy another house using prima casa incentives and then transfer residence there - yes you can but you must sell your prima casa within 12 months of buying the second house. Its a more complicated way of doing it, usually you sell your prima casa first and then buy a another prima casa within a year, but Im sure you can do it the other way round. If you dont sell up within a year though,the tax will find you and you must pay the difference and a fine.

modicasa

Looking at the website it seems that it is a construction company that sell houses on the side. If there is no registered estate agent in the company they cannot ask for commission on any sale. You should ask to see their inscription as agents at the CCIAA. Here in the south, it is very common. And illegal, as an architect, geometra etc cannot sell houses as they would have a very obvious conflict of interests. They can lose their licence to practise if they do so. it also means they will not want to be nominated in the act of sale. This means you have no legal recourse if they sell you a pup.

Rewire and a little roof work for 40.000? Sounds like a rebuild. There is obvious water infiltration from the photos. It will need new water and waste system I would think, new roof.
You need to know whether it is catasto'd as an ente urbano, now a legal requirement, how much land it has.
If its 15000 theres a reason - it might have terrible shared access, for example. You need to know if there are rights of servitu on the property and where the confines are. But most of all you need to know whether it exists.

I dont understand where there fees of consultation are coming from - is this to help with the approvals for work? Id be wary. it looks like an outfit that sell wrecks and then make alot of money once they have you on board doing up the property.

Isakat

Shayne 109,
I would like to point out 3 things I noticed about the house.

The house does not seem to be built antiseismic-I do not know if the region it is in is prone to earthquakes?
I would gues a new roof is a must.
the website says that it is close to a national park-check if it is inside the park as you will be limited further by what renovation you can do as you can not change the look of the house without obtaining a permit( vincolo paesagistico).

Shayne109

Modicasa Isakat looks like i have a few more questions to ask of them
(L&G) that is.

Looks like i will be giving that place a miss.

Thank you both.

Jonnie-falafel

Hi Sayne ~ If you're going out to take a look why not line up a few more to view? There's no harm in doing it and there might be some nice surprises. Good luck & keep us informed on how it goes.

Shayne109

Indeed and i will.

luigi sibilla

Dear All,
I am the managing director of L&G Construction, the sister company of L&G properties.

I bumped into this thread and I have seen you were talking about myself and an answer is due!

First of all our fee! We apply a minimum of 2,100 € + VAT, it was our old policy...now, due to the current climate, we have reduced our minimum fee!

Second, contract assistance: this service can be done by a solicitor, a geometra or by us. it includes:

- Prepare the Pre-contract agreement (Compromesso).
- Gather the property's paper work: Cadastral data, Certificates, previous title deeds or inheritance documents.
- Liaise with Notaio. Provide him with the house documents.
- Agree with Notaio the figure to be stated on the Contract.
- Organize the Contract with the parties.
- Assistance with translation for Contract signing
- Relocation package

The relocation package is simply the change for water, electricity and gas bill. Sometimes the property has got an old septic tank and in this area, the water company doesn't provide water if you don't state you have a new septic tank. Included in the relocation package there is the application to the Comune for the septic tank and the application to the Provincia for "autorizzazione allo smaltimento delle acque reflue"!

So, please, next time before throwing mud at someone else face, ask!

Third, condition of the house!

The house EXISTS! I will give you google maps evidence; it has got no secret right of way, just a road very close and includes for 600 sqm of land.
The reason for the low asking price is: the house is in need of structural works! New roof (15-17,000 €) with "cordolo di coronamento", new floor in one room (65 €/sqm) and lower the floor in two rooms, opening three doors with new lintel on top, alterations to layout, floor and wall finishes, etc. That's the reason why we have given an estimate of 40-50,000 €!
Again, before throwing mud at someone else face, please ask!

One question: if the house was in need of cosmetic works, you don't think I will buy myself?????

Ing. Luigi Sibilla
Managing Director
L&G Construction

P.S. Our registration number to "Ruolo di Agenti di Affari in Mediazione" is 377!

sheilamarsco

great response from signore sibilla very clear and concise information i would use your company if looking for a property in the future. but what a pity your customer was kept so much in the dark.

Isakat

Dear Mr. Sibilla,

It was very kind of you to clarify the situation with your post.
For us foreigners buying a property in Italy is a minefield; many experience lack of information, lack of customer service, laws that we do not comprehend and on top of all of this there is the language barrier.

We have all tried to give the original poster some help, by pointing out what might go wrong with a purchase of a house, as we have gone through this ourselves. It was by no means an attack on you personally or "throwing mud in your face"or your company which we have no knowledge of.

I am sure that in the future if you provide your clients with the necessary information, possibly even in English to your foreign customers, they would not feel the need to come on the expat forums and ask fellow countrymen for help.
Buon Ferragosto.