As you search for your dream property in Italy, there are a number of other steps that will need to be taken to help you on your way to living in your dream home.

Making an offer
When you make an offer for your dream home, you need to make sure that you include the amount of the offer, the conditions, when you’ll pay the deposit and the date of the Final Contract.

The preliminary contract
This will be written in both Italian and English and will usually be prepared by the estate agent and define all selling conditions. Usually you will need to provide the deposit (20% of the asking price) at the signing of this contract, and if the seller pulls out after this has been signed they will need to pay you double your deposit – if you pull out, you will lose your money.

The ‘Codice Fiscale’
You will need to obtain your ‘codice fiscale’ (tax code) from the tax office, and this is necessary to by property and open a bank account – and is completely free! Your estate agent may do this for you.

Opening a bank account
You will need to have a bank account to receive your Italian funds before signing the Final Contract. Your Italian bank will also prepare you for the Final Contract cheques (assegni circolari).

The final contract
This is signed in front of a notary, who guarantees the property and makes sure any issues have been taken care of. At this point, you will need to pay the sale taxes. If you are not a fluent Italian speaker, you will need to be assisted by a qualified translator. At this point you will have to pay the balance for the property, the notary, the taxes and whatever else is necessary.

Fees and taxes
In addition to the purchase price, there are a number of other prices that will need to be paid – including fees to the Notary and Estate Agency. Notary fees will vary by property and you will also need to pay for a translator if you are not fluent in Italian. Estate agency commission varies by agent but must be paid by both the vendor and the purchaser. You will also need to pay taxes on the declared value of the property, a ‘catasto’ (Land Registry) tax. If you are moving to Italy permanently, you will also need to apply for Italian residency, and within 18 months of signing the contract you will need to pay the ‘Imposta de Registro’ – this is around 3% of the declared value of the property plus €180. If you are renting your property as a holiday home, you will ned to pay a tax of 10% of the declared value of the property.