Completion of the procedure for acquiring real estate in Italy
After completing the registration, the seller must transfer the next part of the amount in the amount of 30% of the cost of housing. This serves as another confirmation of the seriousness of the buyer’s intentions. In case of refusal to further execute the transaction, the deposit is not returned. If the owner refuses, then he is obliged to pay the transferred amount in double. Of course, this happens extremely rarely, but the procedure itself is formalized by legislation. In addition to the next collateral, VAT is paid, as well as the services of a specialist in the real estate agency-something about 5%.
And the final moment is the signing of the final contract of sale. In most cases, this happens a few months after the preparation of the preliminary contract, and this is done for the convenience of the buyer so that he can collect the remaining amount and transfer to the seller. As soon as the registration is completed, the new owner enters the rights of real estate owners and gives consent to pay annual taxes for purchased housing.