Buying Real Estate and property in Sicily, Italy - FAQ

How do I arrange a viewing for property in Sicily?

We will spend time talking with you before your trip to determine the best sort of real estate/property for you to see, so you make the best use of your time in the area. Before you leave we will agree with you the properties that you will see and make a firm appointment as to the time and place of meeting our agent. Once you have one or more properties you want to view we can advise on travel and accommodation in the area and arrange an appointment with a local agent.

Can you help me selling my property?

Yes. See our sales page.

How safe is the buying process in Italy?

Very! All registered property transactions in Italy must take place in front of a notaio (A Notary Public who represents the Italian government.) The notaio's job is to check that the sale documents are correct, to verify the identities of the parties involved, to collect the tax on the sale due to the Italian government and to ensure that the entries in the land registry are updated to show the new owner.

Before this can happen one needs to check the land registry to ensure that the property is correctly registered to the vendor, that the property is registered as either a residential property, or in the case of property that isn't at present a dwelling, for example a barn, that the required permissions are forthcoming, that essential services are available, that there are no undisclosed rights-of-way through the property, no outstanding mortgages, and to generally ensure that you are buying what you expect. We can offer you advice on the above mentioned matters, at an additional cost.

How long does it take to buy a property in Italy?

If we provide consultancy on the above mentioned matters, we can generally move from offer to completed sale in around 3-4 weeks if both parties are ready and if the final check on the paperwork shows up no last-minute problems and a notaio is available to produce the sale documents and to witness the sale.

What additional costs will I have to face to buy a property in Sicily?

You will need to pay for the services of the notaio (see above), for a geometra (surveyor) to run the legal checks and searches listed above and required by the notaio, and pay purchase tax to the Italian government. In practise all of these will generally add somewhere between 9% and 13% to the sale price - of which the great majority is the tax.

Do I need to sign a pre-contract (Compromesso or similar)?
Absolutely not, although we can arrange one if you wish.

Italian property law allows a range of pre-contracts where the purchaser pays a deposit on a property that they wish to buy to stop the vendor selling elsewhere, perhaps while the purchaser raises the money, or runs checks on the property to ensure that it is sound.

Do I need to personally attend the sale?
Italian property sales are usually enacted in the office of the notaio overseeing the sale and in the presence of both the vendor and purchaser. If you can't, or don't want to, personally attend we can send you a "power-of-attorney" request and use a third party to represent you. You will need to get the request witnessed by an Italian government official or an authorised Notary Public or similar person in your own country and return it to us before the sale.

Do I need to use a lawyer to represent my interests?
The notaio overseeing the sale works for neither buyer nor seller. However, he or she is responsible for seeing that sale is correctly carried out, that the new ownership is correctly registered and will generally become legally responsible for any claims made by the vendor in the sale document.

When I purchase a property, which taxes will I have to pay?
It depends on the kind of purchase. Taxes can range approximately between 4% and 10% . On request we provide tax consultancy advice.

Will the deposit that I will pay to ensure the property, be given back to me, if the vendor was to refuse my proposal?
Yes. If the buyer who gave the deposit backs-out, the vendor can withdraw keeping the deposit. If instead, the person who received the deposit backs-out, the other part can withdraw and demand the double the deposit (see art. 1385 of the Italian Civil Code).

Is there a rule that sets the value for the deposit? Does it have to correspond to an exact percentage of the total amount, or it is up to the participants to decide?
There is not a rule, although the Chamber of Commerce of each city sets a minimum percentage.
Usually the percentage can be higher or lower, according to the agreements between vendor and buyer.

Where can I find out about the latest Sicily investment news?
You can find the latest news and developments by going to our Investment News page.

Is it easy for a foreigner to get a mortgage in Italy?
For information about mortgages in Italy, check this link: http://www.bancaperlacasa.it/ubcasa/jsp/foreign_buyers/index.jsp
It links to a bank called Unicredit, Banca per la casa (Bank for the home) and it was formerly the Abbey National branch in Italy. They have a branch in Catania, Sicily.

How much are the agency fees?
2-3 % on the price of the property for the buyer, 2-5% for the seller.

Is there a Capital gain tax in Italy?
No, there is not. Instead there is an annual tax called ICI. The amount of ICI is decided by each city council and it depends on the location of the property and on its square metres. It may change from year to year, according to the decision of the city council.

Are there any other property taxes?
There is a tax on rubbish disposal, which is decided by the city council of each city and it depends on the square metres of the house. It doesn't matter how many people live there.

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