Information Sheet/Terms and Conditions

 CODICE FISCALE:

 A Codice Fiscale is document required by everyone in Italy. This document will incorporate your personal Identification Number enabling you to undertake various transactions such as opening a bank account, buying an Italian sim card or purchasing property. The Codice Fiscale is easily obtained, either from your Italian Consulate or Embassy in the UK or from the local council offices in Italy. It is advisable to obtain this document at the earliest opportunity; we can help you to obtain one locally. ITALIAN BANK ACCOUNT: If it is your intention to purchase a property in Italy you will need to open an Italian Bank Account in order to transfer money from the UK. Documents required to do this are the Codice Fiscale and your Passport. Italian Homes 4 U will guide you through this procedure with the Banca Di Roma. You will be issued internet access and codes,plus a cash card. TRANSFER OF FUNDS FROM THE UK It is recommended that you use Baydon Hill PLC (see website for details). This company could save you as much as 3% on the transaction versus your own bank. MORTGAGES If you require a mortgage we recommend Baydonhill Plc in The United Kingdom or the Banca Di Roma in Italy. SECURING YOUR PROPERTY When an offer has been made to the vendor and is accepted, Italian Homes 4 U will require a deposit (optional) for the vendor as a guarantee that the property will be shown to no other prospective buyers until the compromesso is signed.As this amount is not standardised and depends on each vendor it could be between 10-15% of the purchase price. On confirmation that your deposit has been received by our bank the vendor will be notified and no further clients will be taken to view the property. COMPROMESSO The Compromesso is a legally binding document between the vendor and the buyer. In this document a final completion time is specified and a further deposit of up 30% of the purchase price upon signing is required. If the buyer decides not to go ahead the deposit is lost. In the case of a change of heart by the vendor, the deposit is repayable to the buyer plus a fine which could amount to the same amount as the deposit. COMMISSION FEES When the Compromesso has been signed our fee is due and payable.There are NO further fees to any other agent ,unlike many other companies .

 The fee is calculated as follows:-

 Property Value Fee Up to €75,000 Euro 2,500 Euro

€75,000 Euro to €99,999 Euro 2,750 Euro

100,000 Euro and above 3%

 Before the signing of the Compromesso our Geometra will undertake all the necessary searches to make sure that the property is free and clear. When this work has been completed we will notify you. PRIMARY RESIDENCE If you decide to reside in Italy permanently your property will fall into a lower tax bracket – approximately 4%. You must become an Italian resident within 18 months of signing the final completion; otherwise you will have to pay back the tax saved plus a fine. HOLIDAY HOME This category will attract higher taxation – 10% of the legal value. PURCHASE COSTS/LEGAL FEES/ETC As a very rough guide you will need 15% of the property value to cover Italian Homes 4 U fees – Notary/Surveyor fees/Taxes. LOW COST PROPERTIES - €55,000 AND BELOW Properties falling into this category are subject to minimum stamp duty and taxes which are included in the Notary fee. As a rough guide this should be between €5,000 and €7,000 NOTARY An Italian notary is a qualified lawyer as well as a public official. Notaries are responsible for all the legal searches and transfer of titles. Each property has a Catastale value (legal registered value) which the Notary calculates. All taxes and community charges are based on this figure. . UTILITIES AND DOCUMENTATION Arrangements can be made for the connection of utilities to your property – gas, electricity, telephone broadband,Sky and water. The fee for this service is 300 euros – payable on receipt of invoice RESIDENCY AND IDENTITY CARDS We can assist in obtaining the above required documentation. The fee for this service is 300 euros.Payable on receipt of Invoice BUILDING,PLUMBING AND GENERAL CONTRACTORS We can arrange for quotations and work to be carried out on your property .Our fees for this service 5% of the quotations or 10% if you wish us to project manage the work.Payable on receipt of invoice. TIMESCALES: Bureaucracy in Italy can take quite some time. However, you can rest assured that we at Italian Homes 4 U will endeavour to ensure that the process is completed as quickly as possible. OUR AIM IS TO MAKE SURE YOUR MOVE TO ITALY IS AS STRESS FREE AS POSSIBLE.