According to Italian practice, Notaries are chosen and appointed by the buyer. The notary acts for both parties and is completely neutral. Indeed, Italian Notaries are public officers who are responsible for:

1. verifying that the documents and the transaction complies with laws and regulations;
2. reading the whole deed of sale to ascertain the real intentions of the parties making sure they are aware of the legal consequences coming from the deed;
3. receiving all the taxes and duties related to the transaction to be transferred to the Italian Tax Authority (Agenzia delle Entrate);
4. registering the contract and inscribe the property – change to the land register; 

The signature of the deeds of sale (rogito) before the Notary, together with the negotiations and the preparation of the preliminary contract, is the most delicate stage of the whole purchasing process, especially if you do not speak Italian. For this reason, we will help you throughout the following procedure:

• the contract will be prepared by the notary in Italian (technical legal) language and in the language of the Buyer. The translation costs are normally divided between the parties; 
• Buyer and Vendor check the contract and communicate any eventual corrections to the notary; 
• the date for the deed will be decided;
• In case one or both the parties are not able to attend the final completion, the deed can also be signed by a legal representative for each party executing a special Power of Attorney which allows the lawyer or a trusted person to represent the parties before the Notary.
• Before signing the deed, the Buyer is now asked to pay the eventual stage payment or the balance of the purchase price to the Vendor. A cashier’s check (Assegno circolare) will be handed over to the Vendor. It is also possible to use the notary’s dedicated bank account (normally without any additional costs); 

The original Italian energy performance certificate (Attestato di Prestazione Energetica or APE) needs to be attached to the final deed signed by the parties.

Property purchase in Italy is not cheap.  A rule of thumb is that 10 – 15% of the purchase price is what you can expect to pay in purchase taxes (Notaio fees, real estate agent fees, survey or site inspection costs, legal fees and government taxes). According to Italian practice, all costs for the notary and taxes are paid by the Buyer.

There are different taxes applied to a property purchase, depending on various factors.
For example, different rates of taxes apply if the property is sold by a “private” seller or by a Company. If the house is purchased as a “first home” (that means that by 18 months after the purchase date the buyer registers the house as his main residence, (in Italian prima casa), a lower rate is applicable within certain requirements.

We can provide the best advice on the fiscal regime applicable to the purchase of your property in Italy and any possible tax deduction. Contact us for more information.