|  | | | Final Contract - Rogito |
A few months after signing the Compremesso the Rogito or final contract is signed. The Rogito is a legally binding document and requires the presence of an official called a "Notaio" or Notary/Lawyer. He oversees the signing of the Rogito registers the Rogito to the Land Registry and collects the tax on the property (hence the need for a Codice fiscale). The Rogito will consist of :
Description of the property and Land for Sale
The Date of the Sale
Name of the vendor and the new buyer, i.e. you
The Declared value of the property (NOT THE PURCHASE PRICE.)
The Declared value is often considerably less than the Sales Price as it is based on official Land Registry price tables and is used to calculate the Property Tax.
The process goes as follows: The Notaio the Vendor and yourself will all be present (unless you appoint a legal power of
attorney to represent you). The Notaio will want to know that the buyer has given proof of good credit to the seller and will be able to pay the sale price. Having satisfied this question, (usually a banker's guarantee) the Notaio will go on to read out the Rogito.
If, however, you do not speak Italian you can have a "scrittura privata " (a simplified version of the contract) read out by the Notaio
and directly translated by a representative. Having read out the Rogito, the Notaio, the vendor, and yourself will all sign the Rogito. The Notaio will then register the sale with the Land Registry.
Well done, you now own an Italian property.
Typical Cost:-
Purchase Price (- deposit)
Purchase Tax 10% if non Resident, 3% if Resident (based on Declared Price)
Notaio's fee, 2.5% of Declared price
Estate Agency fee 4% of Purchase Price
Bolli (Stamp duty) 1% of Declared Price
| Residency - Residenza |
If you are thinking of staying at your Italian home for more than just summer you may consider taking up residency in Italy. Your rights as a European citizen are protected. Although, you may have a few bureaucratic problems
such as visiting your local G.P. in the U.K. as, he will no longer be your local G.P. and you may have to pay. However, the cost of being a non-resident in Italy can be quite expensive; not only property tax but also amenities such as water, electricity and telephone bills are often as much as 50% more for non residents!
NOTE: To claim purchase tax as a resident on your property you must claim residency within 1 year of signing the Rogito.
The cost’s given above serve only as a guide.They may vary. | Go to next page- Cost Breakdown | | Renovating an Italian Property | | |
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mike@tuscanyrealestate.co.uk | All material on this site is based on information that we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete and should not be relied on as such.
All offerings are subject to errors, omissions, change of price or withdrawal without notice.
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