The price shown for the property is set by the seller. In Italy, haggling is normal. If you feel that the asking price is too high, feel free to make a lower offer. You may be surprised at how much "haggle room" there is in the advertised price!
Pre Contract Agreement,
The first formal step of buying a property in Italy is the Pre-Contract Agreement where terms and conditions are agreed. Once the pre-contract is signed, the buyer employs a Notaio to prepare the deeds of sale (Atto Notarile) collating and checking the property’s documents including: - Certificates from the Catasto Office (Land Registry office) such as title search, etc. - Proofs of ownership, i.e. copies of previous purchase contracts, donation or other. - Building permits. - "Certificato di Destinazione Urbanistica" (Urban Planning zoning certificate) issued by the Comune. - Letters of “Rinuncia al Diritto di Prelazione” (farmer's right of first refusal), signed by all farmer neighbours - Others"
A confirmatory deposit is paid by the buyer, upon signature of the PCA.
Taxes are paid to the Notaio. There are three main taxes: Imposta di Registro, Imposta Catastale ed Imposta Ipotecaria.
They are based on the "Valore Catastale": which is "Valore Catatstale= Rendita Catastalex0.05x115.5 (Prima Casa)"or "Valore Catastale= Rendita Catastalex0.05x126 (Seconda Casa)". The "Rendita Catastale" is specified on the title search. The Notaio usually advises which way is the cheaper, in each case. Properties can be purchased as a Permanent home (prima casa) or as a Holiday home (seconda casa). Purchase taxes for prima casa are much cheaper. When a property is purchased as prima casa, the buyers have to officially move in the house (or the same Comune where the house is located) within 18 months from the purchase."