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Selling Italian Property - Advice !

Selling Italian Property - Advice !

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Old Apr 3rd 2014, 6:49 am
  #16  
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Default Re: Selling Italian Property - Advice !

Originally Posted by modicasa View Post
SO you are saying that had you used an estate agent you would have paid him more than the value of the property? I doubt it.
You paid 9700for a property and paid 11600 in fees then someone ripped you off yes.
I'm confused, Modica. Isn't the poster saying that she paid the Notaio €9.700? In answer to her question, yes, too much. IMO Way too much.
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Old Apr 3rd 2014, 7:59 am
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Default Re: Selling Italian Property - Advice !

Now I'm confused too - I thought she was saying that she had paid 9700 for the property, but rereading it I think you're right - she paid the notary 9700. But it all depends on how much she paid for the property. My point was that to pay an estate agent 10000 euros the property would have to cost 250.000.
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Old Apr 3rd 2014, 8:25 am
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Default Re: Selling Italian Property - Advice !

Originally Posted by modicasa View Post
Now I'm confused too - I thought she was saying that she had paid 9700 for the property, but rereading it I think you're right - she paid the notary 9700. But it all depends on how much she paid for the property. My point was that to pay an estate agent 10000 euros the property would have to cost 250.000.
Haven't had enough tea yet to think too much, Modica. Yes, I thought she was saying that she'd paid €250,000 for a property. The going rate for a Notaio here is €1,000 to €1,200 plus another €1,000 to €1,200 c.a. if you have a mortgage for a property of around that price. €10,000 is a LOT, but there could, of course, be a reason.
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Old Apr 3rd 2014, 8:35 am
  #19  
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Default Re: Selling Italian Property - Advice !

Originally Posted by 37100 View Post
Haven't had enough tea yet to think too much, Modica. Yes, I thought she was saying that she'd paid €250,000 for a property. The going rate for a Notaio here is €1,000 to €1,200 plus another €1,000 to €1,200 c.a. if you have a mortgage for a property of around that price. €10,000 is a LOT, but there could, of course, be a reason.
I would imagine that this amount paid to the Notaio probably included all the taxes payable?
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Old Apr 6th 2014, 11:18 pm
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Default Re: Selling Italian Property - Advice !

I thought this sounds like all the monies due... to all persons involved in the transaction, including tax, etc... as the notario will take all and pay the purchase tax/etc with the authorities from both seller/purchaser. It should be clear from the notario breakdown costs... and I was told notario costs are quite fixed legally for property deals. The only difference is whether you pay 3 percent tax at signing and become resident or stay non-resident but pay more !
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Old Apr 8th 2014, 1:19 pm
  #21  
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Default Re: Selling Italian Property - Advice !

Noatio's costs are fixed by law, but the taxes are infinteky variable depending on whether you are buying a house, land or another type of structure. 9700 wouls be the taxes plus the notaios fee, i would think. my original point was taht the OP said that had she used an estate agent she would have had to pay 10. grand extra, which would mean she would have had to buy for 250000 to get a bill of that amount, which makes a 9700 notaios bill unlikely.
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Old Apr 9th 2014, 8:59 am
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Default Re: Selling Italian Property - Advice !

I actually bought 2 houses a main house a dependance and 6 Hectares of land.There were 2 deals one through the notario and one for cash .This saves a considerable amount of money for both sides. The seller only wanted to declare a percentage of the actual value as he was being chased for money elsewhere. I understand that these arrangments are pretty normal here and I was happy to agree.
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Old Apr 9th 2014, 9:58 am
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Default Re: Selling Italian Property - Advice !

Originally Posted by DesiderataSicilia View Post
I actually bought 2 houses a main house a dependance and 6 Hectares of land.There were 2 deals one through the notario and one for cash .This saves a considerable amount of money for both sides. The seller only wanted to declare a percentage of the actual value as he was being chased for money elsewhere. I understand that these arrangments are pretty normal here and I was happy to agree.
Wow, you've taken one hell of a risk!
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Old Apr 9th 2014, 10:30 am
  #24  
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Default Re: Selling Italian Property - Advice !

So you went though the notaio and only declared a part of the agreed sale price and then you paid the seller cash for the rest so that neither of you had to pay taxes ?
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Old Apr 9th 2014, 10:51 am
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Default Re: Selling Italian Property - Advice !

Originally Posted by HADENOUGHPIZZA View Post
So you went though the notaio and only declared a part of the agreed sale price and then you paid the seller cash for the rest so that neither of you had to pay taxes ?
No he agreed to lower the price and I agreed to give him a gift for goodwill purposes. He also agreed to give up his familial rights of servitude to an adjoining piece of land which his family own and his water rights to my pozzo as part of the deal a tractor and a lot of agricultural equipment.
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Old Apr 9th 2014, 11:46 am
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Default Re: Selling Italian Property - Advice !

Originally Posted by DesiderataSicilia View Post
No he agreed to lower the price and I agreed to give him a gift for goodwill purposes. He also agreed to give up his familial rights of servitude to an adjoining piece of land which his family own and his water rights to my pozzo as part of the deal a tractor and a lot of agricultural equipment.
I rather have done everything through the notario... I would not have wanted in later life a problem... (family asking for it back)... and whether he had the right to sell etc... and issues of tax (non payment) etc.

Simply too risky for me, given the stories have have seen/heard in Italy and especially when I was told by an Italian .. "all italians are thieves" so I rather do it properly if not at all.
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Old Apr 9th 2014, 12:08 pm
  #27  
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Default Re: Selling Italian Property - Advice !

it is not normal any more, and you have laid yourself open to lots of problems by underdeclaring. not least having the act annulled. There is absolutely no benefit in underdecalring to the buyer other than opening a huge can of worms. If your solicitor advised you to do so he should be struck off.
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Old Apr 9th 2014, 12:53 pm
  #28  
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Default Re: Selling Italian Property - Advice !

Originally Posted by modicasa View Post
it is not normal any more, and you have laid yourself open to lots of problems by underdeclaring. not least having the act annulled. There is absolutely no benefit in underdecalring to the buyer other than opening a huge can of worms. If your solicitor advised you to do so he should be struck off.
Well Said.
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