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Buying a home in Italy
 In Italy, there are no restrictions for foreigners wishing to buy property.
The buying process
When one has found a property that one wants to buy a preliminary contract is most often then made and signed. In this contract it should be stipulated that the buyer can withdraw from the contract if the buyer's solicitor finds errors in the land registry pertaining to the property. A buyer cannot withdraw from a preliminary contract simply because of second thoughts about buying the property.
The final contract is signed at the Notary Public who represents both the seller and buyer. When this contract is signed, all parties including their solicitors must be present at the Notary Public with the exception that the buyer's solicitor can represent the buyer by a power of attorney. The documentation is relatively simple and really all the buyer needs is a copy of his/her passport in addition to an italian tax number which the solicitor arranges for at the local tax office.
At this time, a deposit should be payed. It can be 10% but it happens that the seller demands as much as 50% which in principle is not refundable should the seller withdraw from the property purchase. A condition that is usually set in order for the sale to be completed is that all inspections should show that the property is legally not marred by inconsistencies, for example pertaining to ownership rights. It is usual in Italy to even perform a so-called Geometra, that is to say a land surveyor or architect measures the properties bounderies to ensure that these are correct and that the remaining notations about the property's character are correct.
Finally, the sale should be registered at the land registry office. At this time, the final payment and all other fees should be payed.
Costs
The surplus value tax (Imposta di registro): Between 0% and 10% of the declared value.
Registration tax: For new properties a fixed fee of €129.11. For other properties, 10% for foreigners, 4% if you are a legal resident in Italy. This sum is calculated from the declared valud which does not necesarily have to be the same as the real sales value.
Costs for the Notary Public: 2%
Local community tax (Imposta Communale sugli Immobili): a yearly tax of 0.4-0.7%, depending on the size and geographic location of the property.
In addition to these fees are the solicitor's fee.
Please note! This information should only be seen as general guidance. Since laws, taxes and fees often change, a buyer must always inform himself of the latest rules and regulations.
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