If you are searching for a home in Italy in the Veneto region which includes the cities of Venice, Padua, Treviso, and Verona – our team of real estate professionals can help! Buying a home for sale in Venice can be a complicated process but our experienced team can help make it a smoother and easier transaction.

The Venice home buying process begins after you’ve identified which home or apartment in which you have an interest. After you’ve found the home you like, our real estate agency will then prepare preliminary offer in both Italian & English which defines the proposed terms of the contract to purchase. It is customary that 20% of the purchase price be paid as a good faith deposit (but this is a negotiable amount) – that will bind the buyer and seller while the remaining documents and final contract are prepared. This protects the buyer from the seller obtaining another offer. And, if the buyer walks away or pulls out of the deal – then the seller retains that money for his time and effort.

After you’ve reached a preliminary agreement with the seller, you then obtain the “Codice Fiscale”; which is the Italian tax code that you obtain from the tax office. You must have this in order to buy Italian real estate, and it is also required to be able to open a bank account – and its FREE! You must have both the Codice Fiscale and the Italian bank account in order to purchase the home because the money with which you are buying the home, must be transferred to the bank account PRIOR to signing off on the final contract. The bank will prepare for the buyer a final contract cheques (assegni circolari) that is paid over to the seller of the home.

The final contract is now able to be executed. It is signed in front of a notary – who acts as the clearing house middleman between the buyer and seller. The notary ensures that the home has a clear title, and that there are no other liens or defects against the home being sold. Sales taxes are paid by the buyer and are based on the purchase price. You must be present to sign the documents in front of the notary, and if you do not speak fluent Italian, you will be helped with a translator and a power of attorney in your native language. At closing, you will pay the balance of the money owed to the seller, the notary, taxes, and whatever other expenses are in keeping with the terms of the contract.
It it important to note:
If your Italian home is to be a temporary residence, that you will be required to pay a tax of 10% of the declared value of the real estate known as “Imposta di Registro” for residential properties (it is 18% on agricultural land). If you do not apply to become an Italian resident, then you are required to pay an additional 7% along with a fine.

(There are many more rules, and requirements that we can assist you with and help answer all of your questions.)

Our real estate company has experienced estate agents that can help you with the home buying process. We can make buying a home easy. Contact us today!