Addressing a real estate agency means to be protected from the many difficulties that may happen during a negotiation. Facing the sale of one's home or buying a new home often involves bureaucratic delicates, delicate passages, and even special legal implications, so it is important for a figure possessing the necessary knowledge to handle the operation in the Better ways. Many in the selling of their home take Do It Yoursel with random estimates, without that ability to negotiate professionally, which means a lot, from customer profiling to closing with a preliminary proposal with a cheque. Often, there are things that are not in line with urban law and therefore can not be ruled out before solving the problem ... etc., In short, it seems simple, but then in real it's much more complicated.
For more information, please download the "Rent to buy" guide from the following link: click here.
The facilitation for the purchase of the "first home" consists mainly of, depending on the case, in the cut down of the VAT. from 10 to 4 % and the registration tax from 9 to 2 % (or at 1, 5 % if the purchase is made through a leasing contract).
For the cut down purchase of the "first home" to be applicable, the registration tax must alternatively:
- the seller is a "private" person, that is, a person who is not acting in the business, art or profession; Or that:
- the vendor, even though he is a "VAT Person", does not make a taxable sale to VAT.
At this point, it should be noted that:
a) the sale of the property is mandatory to VAT. by the manufacturer (or repairer) when it is in the process of being built or restructured or when completed (or restructured) for less than five years;
b) the sale of the property is VAT taxable by the manufacturer (or repairer) who has completed construction work (or renovation) for more than 5 years but who exercises the option of applying the VAT to the sale in question;
c) it is not VAT taxable (but an invoice indicating the exemption from VAT must be issued) the sale of the propety by the construction company (or repairer) who has completed construction work (or restructuring) for more than 5 years and who do not exercise the option to apply the VAT to the sale in question;
d) it will never be taxable to VAT (and must therefore be issued an invoice indicating the exemption from VAT) the sale of the property by a taxable person in cases other than those indicated in the preceding letters from a) to c) (This is the case, for example, of a house sold by a company that has neither built nor restructured it).
It should be noted, however, that in VAT-taxable sales, the VAT rate (4% in the case of purchase of the "first home") applies to the price stated in the sales contract, in sales subject to proportional tax Of the register in which "first home" aid is used, the rate of 2% applies to the value resulting from multiplying the cadastral rent by the coefficient 115.5 (with the practical result that the taxation is much lower than The one that must be taken into consideration in the hypothesis of the purchase of the "first home" taxable to VAT).
In order to obtain the "first home" allowance (which can be benefited, as well as for the purchase of full and naked property, also for the purchase of real rights such as the right of usufruct and the right to housing) uses a plurality of assumptions:
a) the object of the sale must be a property classified as a cadastre in the categories of the cadastral group A other than categories A / 1, A / 8 and A / 9, which are those in which the most valuable dwellings are included A / 10, including offices);
b) the house to be bought must be located:
- in the municipality in which the purchaser already has his or her residence (or in which he / she will have his / her residence within 18 months from the date of the purchase order); or:
- in the municipality in which the buyer carries out his / her work or study; or:
- in the municipality where the buyer's employer is based, if he is a buyer transferred abroad for work reasons; or:
- in any Italian municipality, whether it is an Italian citizen emigrant abroad, who has no other home in Italy;
c) in the purchasing act, the buyer must declare:
- not to be the exclusive owner (or in communion with the spouse) of another home (property or usufruct) in the territory of the municipality in which the purchased house is located;
- not to be entitled, even by quotas, even under legal communion, throughout the national territory to another home (property, usufruct, naked property) acquired by the same purchaser or spouse with the benefits "first house " in force in our country by Law 168/1982 onwards.
In the latter case, it should be pointed out that if the buyer is in the ownership of another home, purchased with the "first home" facility, it is still possible to make a new purchase with the "first home" Provided that the house already owned is disposed of within one year from the date of the new facilitated purchase.
The purchase proposal
It is important to distinguish the purchase proposal from the preliminary one. The purchase proposal, in fact, is the buyer's statement of wanting to buy some good at a certain price: usually it is a prepaid form provided by the real estate agency, and it is accompanied by the payment of a sum of money by title of 'deposit' '.
Once signed, the purchase proposal contains commitments already binding for the buyer but in the meantime the seller remains free to evaluate other offers as well and it is not certain that the deal will be concluded. It is therefore preferable to always make a preliminary contract as the purchase proposal only commits the party that signed it. Once accepted by the seller, the purchase proposal will automatically convert to a preliminary contract
The preliminary contract (even said agreement) is a real contract that obliges both parties to conclude the final contract.
The preliminary must indicate the main elements of the sale such as the price and the home to be purchased, the address and a precise description (layouts, rooms etc.) with the data of the Land Register and the date of the final contract. It is also appropriate to define all the reciprocal obligations to be met prior to the delivery of the property. In the case of sale of a property under construction the law provides special rules for the preparation of the preliminary contract. It is not mandatory that the preliminary contract has to be stipulated by a notary, but it is, however, advisable to clarify with the notary what the obligations are.
In case of:
• Prestigious pricing
• long times between preliminary and final
• fallible seller
To ensure maximum protection for the future buyer, it is highly desirable for the preliminary contract to be signed by the notary, by private written authentication or public act, so that it is transcribed in the Real Estate Registry. In other instances, the opportunity for transcription can be assessed with the assistance of the notary.
The transcription is valid as a real purchase of the property. It is no longer merely a private agreement between buyer and seller, it is legally enforceable to anyone (technically it is "opposed to third parties") and the seller, consequently, can not sell the property to someone else or grant a ' Mortgage on the property, nor constitute a passive servitude or any other prejudicial right. Any seller creditors will not be able to enter a mortgage on the promised property for sale or to foreclose it. From the moment of the transcript of the preliminary contract, the property is "reserved" to the future buyer, and any transcription or registration will not have effect on him.
When registering the preliminary contract, the following taxes must be paid, which will then be recovered when the final contract is signed:
• 0.50% on the deposit
• 3% of the sums paid as a down payment.
Action by natural persons
For everyone
»Valid identity card
»Tax code card
»Summay extract for birth certificate summary
For single, widower, maiden, divorced
»Free state or widow's certificate
For married, even if separated
»Summary extract for marriage certificate
For separated and divorced
>>Judgment / decree of divorce or divorce
For married
»Copy of the asset separation act
»Copy of any asset fund
For prosecutor intervention
»Authentic copy of the prosecutor's office
For incapable representation
»Judicial Authorization
For non-EU citizens
»Residency permit
Attempts by institutions and companies
For everyone:
»Legal identification document for the representative
»Chamber certificate
»In force statute
For agencies with board of directors
»Verbal report with signed resolution
For prosecutor intervention
»Authentic copy of the prosecutor's office
Documents relating to the object of the sale
Buying title
"Deed or judgment
If the purchase was made by succession
»Declaration of succession with a certificate of payment of taxes
»Acceptance of inheritance (expressed or silent)
If there is a preliminary contract
»Copy of the contract, with the details of registration and payment of taxes
If it is a condominium building
»Condominium Regulation
»Administrator's statement of outstanding debts and ongoing work
If it is real estate unit
»Cadastral certificate and planimetry with boundaries
»Municipal building permits issued from 1967 onwards (licenses, concessions, permits, permits to build, condo practices, occupancy licenses)
If it's land
»Cadastral certificate and planimetry with boundaries
»Urban planning certificate
If there is a previous mortgage to be deleted
»Bank's Letter of Assent
If there is tax credit
»Buying deed and reselling off the previous" first home "
A) Notary activity before the act
There are numerous activities carried out by the notary for the preparation of all the documentation required to instruct the negotiation. The notary initially investigates the will of the parties to identify the most appropriate type of act to achieve the intended purpose of the client, in compliance with the law. Therefore, the notary must ask the parties all the information that will allow him to fully understand the result they want to achieve. The parties have the right to ask the notary personally and asks him for all the clarifications and explanations useful to understand the consequences and legal effects of the act. Often, it happens that conversation with the notary also ends with changing what was the initial idea.
Example:
• Think of the rather common case where parents pay a part of the price to purchase by the house for they children; Depending on the circumstances, it may be useful to point out in the deed the source of the money or proceed to a real donation of the property.
• It is possible that the price is not fully paid at the time of the deception, and that one part is outdated. In this case, it is important to ask the notary's advice on the forms of guarantee that can be made available to the seller and to know the related costs. There are various forms of protection: from the making of bills of exchange to the registration of a legal mortgage, to the sale of property, in which the transfer of ownership of the good occurs only with the payment of the last installment of the price. Lastly, the recent economic crisis has led to the creation of more contractual terms such as rent to buy, where the price is substantially extended in more installments, also attributable to rent.
Once the act is to be drafted, the notary must legally carry out a series of preventive legality checks aimed at guaranteeing a valid and unassailable contract over time. With these controls the dispute in the real estate sector is almost non-existent: in Italy, only 0.003% of real estate transactions end in front of a judge.
B) The main legal activities the notary has to carry out can be summarized as follows:
1. Ensures the personal identity of the parties involved in the act and their ability to do so through the verification of the property regime between the spouses (legal commencement of the goods or separation), the right to intervene, in the case of foreigners, under age, disabled, interdicted, incapable, or support recipients, etc. The notary's control over the identity of the parties serves to ward off the risk of identity theft, which is widespread in common law legal systems, where access to alter the results of real estate registers (if any) is possible without any prior checking of legality . The phenomenon is so severe in the United States that the FBI has requested the collaboration of the Italian Notariate to prevent such fraud, showing the Anglo-Saxon interest in the civil law system and its guarantees.
2. verifies by law the existence of previous mortgages or bonds or foreclosures with the Office of the Territory of the Revenue Agency and the regularity of the urban and cadastral properties. The notary must also verify that the property being sold is not subject to particular disciplines eg. On the subject of public housing (existence of subjective requirements on the part of the purchaser, or price constraints), or pre-emption rights for certain subjects or in the case of goods of historical, artistic and archaeological interest.
3. Identifies the tax regime relating to the concrete case and verifies the existence of requirements for any tax benefits (eg home purchase allowance, or tax credit or tax exemption in the event of transfers to Execution of separation or divorce agreements). The notary thanks to a specific tax preparation is able to suggest solutions that enable tax savings in compliance with the law.
When registering an act, the notary must pay the tax authorities the taxes due from the buyer, and for this reason he collects them directly from the buyer in the deed and sends them to the state. Every year the Notary public collects taxes on all the acts on behalf of the State, paying each year several billion euros of indirect taxes and capital gains without any charge to the State, even though not collected by the client.
The sales assignment is a contract by which the owner of the property assigns to a real estate agency who is regularly authorized to find, within a certain period of time, the purchaser of his property under pre-established conditions. The exclusivity of the assignment clearly identifies who will have to deal with the sale, avoiding confusion, overlaps and therefore unpleasant misunderstandings.
It is advisable to evaluate more professionals by placing confidence, of course, in the one who has shown you more reliability. Attention, the property promoted by multiple operators, often carries a negative message of "end of season" sales.
A) Buying a home
From construction / renovation firms
The sale by construction or renovation companies, subject to particular circumstances, is subject to VAT, which is paid directly to the vendor.
The VAT rate to be applied on the sale price will be:
- 10% in the absence of first-home facilities;
- 4% in case first home facilities request.
The same tax treatment is applied to the assignment of houses to of-operative housing partners.
In the case of a VAT purchase subject, the following fees will also be paid to the notary who will subsequently pay to the Revenue Agency:
• Registration fee: Euro 200
Mortgage set: Euro 200
• Cadastral tax: Euro 200
By privates
Registry, mortgage and cadastral taxes are paid by the buyer to the notary who will pay them in turn to the Revenue Agency when registering.
1) In absence of facilities
• Registration fee 9%
Mortgage set: Euro 50
• Cadastral tax: Euro 50
The rates apply, as a rule, to the price of the sale declared in the act; In the case of the transfer of immovable property to natural persons, the acquirer may apply for the settlement of the registration tax on the "value" (price-value) of the property (e.g. the value resulting from the multiplication of the cadastral rent for The legal coefficient of 126), regardless of the actual amount of the sale price, even though it exceeds this value.
The minimum tax is always € 1,000.
2) In the presence of facilities for the purchase of the first home
• Registration fee: 2%
Mortgage set: Euro 50
• Cadastral tax: Euro 50
The rates apply, as a rule, to the price of the sale declared in the act; In the case of the transfer of immovable property to natural persons, the acquirer may apply for the settlement of the registration tax on the "value" (price-value) of the property (ie the value resulting from the multiplication of the cadastral rent for The statutory coefficient of 115.5), regardless of the effective amount of the sale price, even though it is higher than this value.
The minimum tax is always € 1,000.
Leasing is a contract whereby the lessee undertakes to grant to the shareholder the enjoyment of a real property for a certain period of time after payment of a certain remuneration.
-How register a leasing contract:
- All rental and leasing contracts (including those related to rustic funds and non-passive VAT subjects) must be registered, regardless of the amount of the agreed rent.
- Registration must be made within 30 days from the the contract date.
- You are not obligated to register the leasing if the duration of it does not exceed thirty days in a year, regardless the amount of the rent.
- The leasing agreement can be registered in two ways:
- telematic mode: registration can be written directly by the taxpayer or an authorized intermediary; The procedure allows simultaneous online payment of taxes and any interest and penalties, with the advantage that the sums owed are calculated directly from the software. The system is completely safe as the data is encrypted and can only be read by the Revenue Agency. For holders of more than 10 properties this mode is mandatory.
- paperwork: you must go to an office of the Revenue Agency and deliver the properly completed RLI model after you have paid the registration tax (2% on the annual rental fee). The tax must be paid by F24 ELIDE at any collection, bank or post office agent. Taxpayers who have decided to opt for the coupon scheme must, always fill in the RLI model, indicate the choice for the new replacement scheme.
