Italy: how online real estate auctions work

What is an online real estate auction and what is the difference with a traditional auction? A real estate auction procedure is in general a method of sale that allows you to put more bidders in competition, to obtain a higher consideration and therefore greater satisfaction for the needs of the seller. Today, all auction procedures, both those relating to the disposal of assets of public bodies and the judicial ones, are instead carried out online. Why does a property come to a judicial auction? A property undergoes a judicial auction sale process if the owner has defaulted on a pecuniary obligation (debt) towards another person (private individual, company or bank). In this case, the creditor, who has not managed to have spontaneous satisfaction of his credit, can undertake a (coercive) sale of the asset that the debtor has offered as a guarantee (for example by registering a voluntary mortgage) and claim back on the price obtained from the sale at auction. How to participate in an online auction Anyone can participate in an online auction, given that the discipline is perfectly superimposable to that once set up for traditional auctions. There is no need for the technical representation of an Italian lawyer. For the hypothesis in which the subject who intends to participate in it (given the hypothesis of mixed sales) is not able to manage the thing from an IT point of view, he can make use of a facilitator subject who, in the language of the legislator is called “presenter”. The steps to follow are: The booking of the visit to the auction property through the caretaker; The submission of the offer, in one of the accepted methods, through the authorized Portal, also including an accountant that proves the payment of the deposit; Participation in the tender on the day and time indicated in the notice by connecting to the portal indicated in the same notice of sale. During the tender all events, higher offers, awarding, etc.  will be registered and uploaded to the portal by the auctioneer / delegate. Asynchronous telematic auction, how does it work? The auction methods currently admitted are: Synchronous auction: the offer and the request to participate are submitted exclusively electronically; the competition also takes place live and online. In this type of auction, the bids are carried out in a predetermined period of time and without the simultaneous connection of the judge or the referent / delegate of the procedure. The tender can last several days and will start on the date and time indicated in the notice of sale. The telematic sales manager communicates to the participants, using the auction notice methods, each raise. At the end of the time period set for the tender, the telematic sales manager communicates the highest offer formulated to all participants. Mixed synchronous auction: here, in addition to the above-mentioned electronic submission methods, also paper submission methods are permitted which will be uploaded to the web platform by the auctioneer / delegate; the tender may have remote participants and also in presence in the physical place where the auction takes place (the subjects who submitted the paper bids will certainly be present); Asynchronous auction has methods for submitting offers and requests only electronically; the competition also takes place live and online. In this type of auction, the bids are carried out in a predetermined period of time and without the simultaneous connection of the judge or the referent / delegate of the procedure. The tender can last several days and will start on the date and time indicated in the notice of sale. The telematic sales manager communicates to the participants, using the auction notice methods, each raise. At the end of the time period set for the tender, the telematic sales manager communicates the highest offer formulated to all participants. Is it possible to take out a mortgage for the purchase of a property by electronic auction? There is no difference in terms of the possibility of taking out a loan to pay the price of a property awarded at the auction, whether the auction was carried out electronically, or with analog or traditional methods. Once the auction has ended and the successful bidder has been identified in the person who made the highest bid, the timing for the deposit of the residual price (usually 90 days) is the same and it is in that period of time that an application must be submitted to a bank to obtain the loan. Is a security deposit required? The security deposit does not change: in the sense that the deposit must be paid both in the case of an electronic auction and a traditional auction. What happens if the successful bidder fails to make the payment in the time and manner provided? If in the time allotted for the deposit of the price the successful bidder does not pay it, he loses the right to award and suffers the loss of the deposit as a penalty. The asset is offered again at auction and if, from the new auction, the hammer price were to be lower than that of the first one, the expired successful bidder also suffers a sentence to pay the difference minus the deposit. What are the main existing portals for telematic auctions? The portals of the Telematic Sales Managers are published in a list kept by the Ministry of Justice and available at the following link. A tip for those who want to participate in an online auction The advice to be given is to carefully analyze the notice of sale, visit the property with the help of the caretaker and carefully evaluate the maximum price threshold that can be dealt with; as for the telematic aspect, it is advisable to prepare adequately (perhaps by asking the managers of the platforms used and / or the delegates and / or auctioneers for clarification and explanations), considering that the procedure is not that complicated. Alternatively, use a presenter, for example a

Buying a house at auction in Italy, a bargain

Buying a house at auction: everything you need to know Notary Valentina Rubertelli, president of the National Council of Notaries, provides with useful tips for buying a house at auction while saving costs. Why does a house go to auction? There are three different reasons why a property ends up at auction. The first concerns individual citizens: because when one or more creditors are not able to pay, the latter have the right to retrieve their property. The second case concerns companies that in the event of bankruptcy see their assets alienated. The third case concerns public bodies: when they decide to sell a property they must necessarily do so through the auction which guarantees maximum transparency. What are the three main tips to give to those who intend to buy the house at auction? The first is certainly to read the court-ordered appraisal very carefully, and it would be even better to have it read by a trusted technician to verify the sanability of any building abuses. The second concerns the certainty of having economic coverage or being able to access a mortgage. The third tip is to check who are the people who live in the house and make sure that the release of the property is foreseen in the notice of sale at the time of the award or, at the latest, the signature of the decree by the judge. The release will in any case be guaranteed, in case of non-spontaneous initiative of the occupier, through the intervention of the public force. How do I document and what is the best way to look for an auction house? Auction houses must be advertised both on the web and in printed newspapers; it is the judge who in the sales order indicates where. There are therefore specialized sites, the sites of the Courts, the site of the Notaries and, when it becomes mandatory, all the advertisements of the Italian Courts will be collected on a single Portal managed by the Ministry of Justice which, in turn, for the photos and the details of the case, will refer to the commercial sites enabled for legal advertising. One of these is the Notary Public Sales Portal. Once I have identified the house I like, which is the step to follow? Once the house has been identified, you must pay close attention to the notice of sale which contains an indication of the property offered for sale, the date, time and place of the auction, the base price, the measure of the minimum raise, the deadline. Submission of offers, the methods of sale (whether with or without enchantment, but now the latter method is the rule, the former the exception) and, finally, the website on which the appraisal report is published, which constitutes an integral part of the notice of sale and which describes in detail the factual and legal situation of the property. How is the basic auction price established? This is established by the expert appointed by the Judge and reported in the appraisal report which is published on the website indicated in the order of sale, in homage to maximum transparency towards the market and citizens. The minimum increase required in the tender is also established in the sale order. Do you need to make a bid equal to the basic auction price or can you offer less? The auction base is that set by the execution judge on the basis of the property appraisal and it is the same judge who determines the amount of possible discounts that the delegated professional can accept after the first deserted auction. But be careful if you want to be sure that your offer is accepted you will not have to go down – during the bidding phase in a sealed envelope – by more than 25% of the value of the auction base. In fact, after the 2015 reform, real estate auctions – launched from 27 June 2015 – take place almost exclusively with the “sale without enchantment” procedure under which the bidder submits his offer in a sealed envelope which will not be considered effective if more than 1/4 lower than the base price indicated in the notice of sale. An example: if the set price is 100, those who want to participate in the auction must submit a bid of at least 75. Anyone who submits a lower bid will see it declared ineffective. I decide to participate in an auction. What is the process I need to follow and what are the necessary documents? For each house that goes to auction there is a sale notice where we find all the information necessary to participate in the auction. Widespread throughout the country there are also numerous associations of delegated professionals (many are notaries) who since 1998 have been dealing with this type of activity by delegation of the judges: these associations are perfectly structured to provide all kinds of information in person or even through websites full of valuable information. But let’s try to summarize the most important things to know: 1) each participant must present, in the place and on the days indicated in the notice of sale (except for online auctions), an offer in a sealed envelope and without identification marks, containing an indication of the price offered and a deposit set in the notice of sale (normally 10% of the price based on auction) and a photocopy of your identity document and tax code, as well as the other documents required in the announcement, which must be read carefully; 2) it is not allowed to submit the offer anonymously, except by giving power of attorney to a lawyer. Can the executing debtor submit an offer? No, but his relatives and friends will be able to. How can I verify that this is the house I am really looking for? Can I visit it first? Surely. I can ask to visit the caretaker with a simple online question on the ministry website or by

Italy, many 1 euro houses at the seaside

In Italy, there are 1 euro houses by the sea €1 houses in Italy, what you should know: I don’t sell €1 houses, so please avoid asking me questions in the comments below they are all abandoned houses, which need restructuring, that can be often times costly the owners sell then them because they don’t want to pay neither the restructuring nor the taxes buying a house in Italy doesn’t give you the right to live nor work there, unless you’re a citizen of the European Union you can get a good deal, but you must invest to renew the house. More and more Italian municipalities are joining the initiative for the sale of properties at symbolic prices. Among these, several places that have published the tenders are located near seaside resorts, from Sicily to Sardinia, passing through Puglia, Calabria and Lazio. Here is the list of 1 euro houses on the sea. The formula of the calls with which Italian municipalities sell houses for 1 euro is more or less the same at all latitudes. The administration makes a screening of the abandoned houses and contacts the owners, offering them the sale at a symbolic price rather than incurring the expenses for the renovation of the same. The buyer, then, must guarantee the safety works within a set period of time. 1 euro houses in Sardinia In Italy, there are 1 euro houses by the sea even on the splendid northern coast of Sardinia. The announcement is also being considered for the historic center of Sassari, which has been experiencing continuous depopulation for thirty years now. There are many dilapidated and abandoned houses, which with the passing of the years also begin to become a danger. Also in the province of Sassari is Romana, a village of about 500 inhabitants which is 40 km from Alghero and 35 from Sassari. It is located 267 meters above sea level in the Meilogu region, but the sea of the neighboring towns is easily accessible. The town is located on a plateau formed by volcanic and limestone rocks, and in the surroundings there are karst landscapes, such as the Inghiltidolzu cave in the nearby Santu Giagu valley. While in Puglia the municipality of Taranto has also renewed the initiative to sell houses for 1 euro for 2021. This is an initiative created for the repopulation and revitalization of the socio-economic system of the old city, through the recovery and enhancement of abandoned properties. The goal is to create a housing network, but not only. The ideal would be to see the emergence of a widespread tourist-accommodation network. 1 euro houses at the seaside, the map of the municipalities near seaside resorts in Italy,  and that of all Italy 1 euro houses in the most beautiful village in Italy In 2014 the small town of Gangi, in the province of Palermo, was elected the most beautiful village in Italy. Yet the historic center of this charming Sicilian village, with the passage of time, has experienced a sort of abandonment and many of its houses have ended up in ruins. With the aim of recovering and enhancing the heart of this town, which today has about 7,000 inhabitants, the mayor Giuseppe Ferrarello has thought of a very special initiative: to assign old buildings for tourism-accommodation or housing purposes free of charge. There is only one condition: to restore them within three years. 1 euro houses in Calabria Also in Calabria, in the municipality of Cinquefrondi, the 1 euro houses project was renewed for 2021, which provides for the sale at a symbolic price of old and abandoned buildings located in the historic center. As with the other calls for tenders, the purchases are bound to the renovation and safety measures. 1 euro houses in Lazio Among the municipalities that have joined the 1 euro houses initiative, in Lazio, there is also the medieval village of Maenza, which rises in a privileged position to reach the Pontine seaside resorts at the foot of the Circeo, including Sabaudia, Gaeta and Terracina, just to give a few examples. 1 euro houses in Sicily In Sambuca di Sicilia, however, after the success of the 1 euro houses, the municipality is ready to enter a later phase with the 2 euro houses initiative. The first experience of the 1 euro houses was very positive for Sambuca di Sicilia. For 15 available properties, 110 thousand requests were received. Houses for 1 euro also in Castiglione di Sicilia, a village on the slopes of Etna and overlooking the beautiful Alcantara valley. The municipality, last year, had started a census work which showed that, of the 1777 housing units in the historic center, 937 were abandoned.After Gangi, Sambuca di Sicilia, Delia, the 1 euro 2021 homes project won another Sicilian village: the town of Troina. List of Houses at 1 euro in Italy If the map gives you difficulty, we include a complete list of municipalities where the 1 euro Case project was undertaken. Northern Italy Albugnano (Piedmont) Borgomezzavalle (Piedmont) Carrega Ligure (Piedmont) Oyace (Aosta Valley) Milan (Lombardy) Pignone (Liguria) Triora (Liguria) Center of Italy Vergemoli factories (Tuscany) Montieri (Tuscany) Cantiano (Marches) Maenza (Lazio) Patrica (Lazio) Saints Cosma and Damiano (Lazio) Casoli (Abruzzo) Lecce in the Marsi (Abruzzo) Pratola Peligna (Abruzzo) Santo Stefano di Sassanio (Abruzzo) Southern Italy Castropignano (Molise) Candela (Apulia) Biccari (Apulia) Caprarica of Lecce (Apulia) Taranto (Apulia) Laurenzana (Basilicata) Acerenza (Basilicata) Altavilla Salentina (Campania) Bisaccia (Campania) Pietramelara (Campania) Teora (Campania) Zungoli (Campania) Albidona (Calabria) Belcastro (Calabria) Cinquefrondi (Calabria) Maida (Calabria) Rose (Calabria)

Drinking water bonus 2021: a 50% tax credit

  With the provision of June 16, 2021, the ItaliaIn nland Revenue set the operating rules for obtaining the 2021 drinking water bonus. Drinking water bonus 2021 in Italy : what it is To rationalize the use of water and reduce the consumption of plastic containers, there is a tax credit of 50% of the expenses incurred between 1 January 2021 and 31 December 2022 for the purchase and installation of systems of filtration, mineralization and cooling and / or addition of food carbon dioxide aimed at improving the quality of water for human consumption supplied by aqueducts. The maximum amount of expenses on which to calculate the subsidy is set at 1,000 euros for each property, for individuals and 5,000 euros for each property used for commercial or institutional activity, for businesses, arts and professions. and non-commercial entities. The information on the interventions will be transmitted electronically to Enea. How to apply for the 2021 drinking water bonus The amount of the eligible expenses must be communicated to the Revenue Agency between 1 February and 28 February of the year following the one in which the cost was incurred by sending the form via the web service available in the reserved area or the telematic channels of the Agency of Revenue (Agenzia delle Entrate). Download form and notice here. After that, the bonus can be used in compensation through F24, or, for natural persons not carrying out business activities or self-employment, also in the tax return referring to the year of expenditure and in those of subsequent years until the full use of the bonus.

Example of a preliminary Italian real estate sale contract

Here is an example of a preliminary contract for the sale of a house or flat. The seller is obliged to sell the property to him under the conditions stipulated in this contract. Here is an example of a preliminary contract for the sale of an Italian building. The seller is obliged to sell the property to him under the conditions stipulated in this contract. If the buyer has paid a small advance, even one or two thousand euros, in the event of the seller’s refusal to sell the property, the latter will have to return double the advance (“caparra confirmatoria”, it is better to specify). If, on the other hand, it is the buyer who retracts, he will lose his advance. You will find the translation below. Obviously, for the sale to be effective, it will be necessary to go to a notary, to whom we will have communicated this preliminary contract beforehand. FAC SIMILAR PRIVATE WRITING REAL ESTATE PURCHASE With this private agreement, to be valid for all legal purposes between: Mr / Mrs ……………… ……. .. … .. … .., born in …………… .. ……. ……… .. on …………… . …………., Resident in ……………. ………………… in the province of ……………………………… Via / Viale / Piazza… .. …………… ………………… .. ……, cod. tax ……………………. ………; “Promissory seller” is Mr./Mrs. ……………… ……………………………. … .. ………, born in …………………… ……… .. on … ………………., Resident in ……………. ………………… in the province of ……………………. …………………………. Street / Avenue / Square …… .. ………, cod. tax ……………………… .. ………; “Promissory buyer” THE FOLLOWING IS AGREED AND AGREED: 1) The promissory seller promises and undertakes to sell to the promissory buyer, who in turn promises and undertakes to purchase for herself and / or for third parties or entities that reserves the right to appoint at the signing of the notarial deed, the unit real estate located in …………………………………… via ……………………………. Floor ……… staircase …… .. …… .. composed of n. ………… .. ……… .. rooms, registered at N.C.E.U. to match no. ………..…………………………….………….….. as follows: – sheet ……………………; map ……………………………; sub …………………. …… .. floor …………… .. ………… area …………………… cat. ……………. No. ………. …… ..vani as well as the pertinence consisting of …………………………………………. registered at N.C.E.U. to the lot as follows: sheet ………… .. ………… maps ……………………. Sub cat. …………… ..… ..; all as highlighted in the cadastral plan which, countersigned by the parties, must be considered an integral part of this sales promise. 2) The promissory seller guarantees the ownership of the property described and guarantees its full availability and delivery to the promissory buyer a copy of the deed of provenance. 3) The promising seller declares that the real estate unit is sold free of any lease or other contract (eg: free loan for use of the property) as well as free from burdens, constraints, mortgages, transcripts and charges that may be prejudicial to the right of ownership and that it is transferred in the state of fact and law in which it is located, with all active and passive easements (subject to any exceptions to be indicated). 4) The promising seller also declares: – to be up to date with the payment of condominium expenses according to the quantities set by the thousandth tables, which are produced in the annex together with the relative condominium regulations and which the promissory buyer undertakes to respect from now on; – that as regards the real estate unit covered by this contract, there are no arrears relating to non-payment of taxes, fees and contributions of any kind, no foreclosures, seizures or other civil, criminal or administrative procedures are pending; – that the income of the promised real estate unit for sale was declared in the last tax return; – that the real estate unit complies with the provisions of urban planning and building regulations and regulations; – that the property is not subject to the provisions of law no. 1089 of 1/6/1939 which protects historic buildings and which has no transfers for donations in the history of ownership, such as to make the rule of art. 563 of the Civil Code which provides for the reinstatement of the quota in favor of the legitimate holders; – that the systems present in the real estate unit comply with current safety regulations. 5) The sale will take place on a lump-sum basis and at the price that is established by mutual agreement in € ……………… ………………… ..…. (in numbers) ….………………………….…………..………. (in letters), which the promissory buyer undertakes to pay to the promissory seller in the following ways and terms: – € …………… .. …………. (in numbers) …………………..……. (in letters) are paid by the promissory purchaser by ……………… .. (indicate the number of the check (s) or details of the bank transfer), at the same time as the signing of this deed and which the promising seller withdraws as a confirmatory deposit issuing a receipt; – € ……………………….…. (in numbers) ……………..………. (in letters) by ……………… .. (indicate the number of the check (s) or details of the bank transfer) as a down payment by the date of …………………………………; – € ……………….…. (in numbers) …………….……. (in letters) will be paid in cash by the promissory purchaser at the same time as the signing of the notarial deed relating to the definitive transfer and which the promising seller will withdraw as the balance of the price. 6) The parties mutually acknowledge and declare that this promise of sale, of exclusively mandatory value between the parties, does not determine the transfer of ownership of the property in question, which will only occur, as well as any other real effect, with the public notarial deed, which must be stipulated no later than … .. / … .. / ……… at the Notary chosen by the promissory purchaser, who undertakes to communicate his name 7 days before the fixed date. Italian original: FAC SIMILE SCRITTURA PRIVATA COMPRAVENDITA IMMOBILIARE Con la presente scrittura privata, da valere a tutti gli effetti

Cadastral income: what it is, how it is calculated

Cadastral income: what it is, how it is calculated and what it is used for Have you ever read a cadastral survey? Among the various items that appear in the different boxes, there is a figure expressed as a euro: “reddito catastale”. That number there is much more relevant than you might think in the real estate world. What is the cadastral income? The cadastral income is a tax value that is used for several purposes: calculate the Imu value of a property; calculate the value of inheritance or gift taxes, mortgage and cadastral taxes; calculate the tax heat, or the amount that affects taxes and duties. How to check the cadastral income? The cadastral income is determined by multiplying the consistency by the specific unit rate for the Municipality, census area and corresponding to the category and class. For real estate units belonging to the groups of categories D and E, the income is determined through direct estimation. As reported by the Revenue Agency website. First of all, the cadastral income is calculated taking into account two factors. The first is the consistency of the property whose income you want to check. This data can be expressed both in rooms and in square meters (example: A, b, c, d). The second factor that you need to know concerns the estimates of the municipality. But let’s see how it is calculated: Consistency of the property x appraisal rates = Cadastral income. The consistency of a property can be expressed in walkable square meters, also considering those of the main and indirect rooms. The estimated rates that are determined by the Revenue Agency Example: Type of property → A2 class surveyed area → 4 immovable → 3 rooms Estimate → 250 x 3 rooms = 750 To recover the cadastral income in a simple and immediate way, you can bypass the calculations by connecting to the internet, for example at the site https://www.rendita-catastale.it/: select whether the property for which you want to know the income belongs to a private individual or to a company; enter your tax code or VAT number; and the province in which the building is located. When is the cadastral income revalued? The cadastral income must be revalued to obtain the cadastral value. To reassess it, it must be multiplied by a coefficient, which varies only according to the category of the property. For example, for buildings belonging to groups A, C D the coefficient is 5%, for those of group B it is 40%. The value obtained must then be multiplied by another coefficient based on the type of property. This table that you can find on the website www.borsinoimmobiliare.it shows all the categories and their respective coefficients. So if we go back to the cadastral income we calculated earlier: 750 x 115 (first house) = € 86,250. But we must be careful: The value of the cadastral income does not coincide with the market value, because they are two different data. For example, The base rate of the IMU 2021 is equal to 8.6 per thousand, this can be revalued up to a maximum of 10.6 per thousand. At any time it is possible to check these values ​​through a free cadastral survey carried out on the BorsinoImmobiliare.it website or that of the Revenue Agency. It is also possible to go to the offices of the local agency or ask a technician for it. How to calculate the assumed cadastral income? The cadastral income can only be known if the properties or land are registered in the land registry. But if this condition does not occur, it is still possible to calculate a presumed cadastral income. Obviously it is calculated provisionally pending the definitive one. The calculation of this type, however, is best entrusted to a technician. The steps are as follows: Properties belonging to categories A, B, C The category is identified on the basis of the technical elements acquired through an external inspection; The class is the middle or higher in the case of even classes present in the census area; The surface is deduced from the aerial-photographic surveys; The consistency in compartments is obtained with the surface / average compartment surface ratio. The costs of the deed of sale also depend on the cadastral income, with the exception of the notary’s fee. In fact, the “price In fact, the” price “of the deed of sale depends precisely on the income. When buying from a private individual: VAT exempt registration tax 2% on the cadastral value fixed mortgage tax of 50 euros fixed cadastral tax of 50 euros

The Italian State’s Superbonus to replace heating and insulation for free

Superbonus 110%, the complete guide to understand how it works and who can benefit from it The Superbonus is a subsidy introduced by the Relaunch Decree which allows the 110% deduction on expenses incurred in the period between 1 July 2020 and 30 June 2022 for interventions that improve the energy performance of a building (both condominiums and single homes ) by at least 2 classes or reduce the seismic risk. What exactly does 110% mean? Here is a concrete example: If you incur an expense of 10,000 euros, 11,000 will be reimbursed, which are recovered through installments, all of the same amount. But let’s see exactly what the guidelines for the Superbonus 110% are: how it works, who can benefit from it, which jobs are eligible for the subsidy and how to apply. Superbonus: when it can be requested The interventions that make it possible to request the Superbonus can be divided into two categories: principal, i.e. thermal insulation, replacement of air conditioning or anti-seismic systems, and complementary, i.e. admitted to the deduction provided they are carried out jointly with at least one of those in the first group. Here are the details of the deductible renovations and their respective spending limits. Thermal insulation interventions affecting the building envelope with an incidence greater than 25% of the surface. The maximum cost varies from € 30,000 for each apartment in a building with more than 8 residential units to € 50,000 for single-family buildings and condominium apartments with independent access. Interventions for the replacement of existing winter air conditioning systems with high energy performance systems. The maximum cost is 30 thousand euros for single homes, 20 thousand euros for condominiums with less than 8 units (to be multiplied for each of them) and 15 thousand for those with more than 8 units. Anti-seismic interventions included in the current Sismabonus with a spending limit of 96,000 euros per property unit as long as the homes are located in the seismic zone 1, 2 or 3. Complementary interventions, i.e. those that can benefit from the 110% deduction only if carried out together with at least one of the principal interventions, are the installation of photovoltaic systems and integrated storage systems, the installation of electric columns for vehicle recharging and the replacement of windows, roofs, floors and solar shading. The Superbonus is due for expenses incurred starting from January 1, 2021, also for complementary interventions aimed at eliminating architectural barriers. Who can benefit from the 110% Superbonus The subsidy can be requested by: Condominiums.  Individuals outside the exercise of a business, art or profession, who own or hold the property object of the intervention (owners, bare owners, usufructuaries, tenants).  Autonomous public housing institutes (Iacp). Housing cooperatives with undivided ownership. Onlus of social utility and voluntary organizations and associations of social promotion. Amateur sports associations and clubs limited to the work for the changing rooms. How to apply for the 110% super bonus? To be entitled to the benefit, you must comply with very specific legislation. It is necessary to ask a specialized technician for a certification, to be sent within 90 days of the end of the works and only electronically to the Enea site, which certifies the improvement of at least 2 energy classes through an energy performance certificate (Ape), ”use of materials that comply with the provisions of the law, compliance with expenditure ceilings and the fairness of the amounts spent. A similar certification is provided for anti-seismic “driving” interventions. In addition, the intervention must be paid by bank or postal transfer where the reason for the payment, the tax code of the beneficiary of the deduction and the VAT number of the recipient of the transfer are shown. How the deduction is divided The subdivision of the 110% deduction changes depending on when the work is carried out and the expenses are incurred. Works carried out between 2020 and 2021: 5 annual installments of the same amount. Works carried out by 30 June 2022: 4 annual installments of the same amount. In the case of condominiums or individual taxpayers, if 60% of the total intervention is completed by 30 June 2022, the 110% deduction will also apply to expenses incurred by 31 December 2022. Superbonus 110%: deduction or discount Taxpayers have the option of choosing, as an alternative to the direct use of the deduction in the tax return, a discount on the invoice by the supplier (which will recover in the form of a tax credit) or to transfer the credit corresponding to the deduction due to third parties, banks and financial institutions included. If you opt for the sale of the the credit must be requested from a Caf (Commission for fiscal assistance) or a qualified professional for the compliance visa for the data relating to the documentation: a certificate, that is, which includes all the documentation necessary to obtain the Superbonus (including the ownership and cadastral certificate, Ape pre and post works and technical communications). Those who only receive income subject to separate taxation or substitute tax can only avail themselves of the discount on the invoice or the assignment of the credit but not the deduction, because they do not have a gross tax to be reduced with it.

Italy: the one-euro house is gaining steam, but is it worth your money?

Firstly,  let me warn you: I don’t know any list of one euro houses, I don’t sell them, I can just give you legal advice, not in the comments, only if you contact our law firm through this website, through its contact form. Please don’t ask me questions in the comments, I won’t answer them. Neither will I give you free legal advice. If you need an Italian lawyer, you must obviously pay for it. A house for just one euro: with this offer, more and more Italian municipalities want to revive villages threatened with extinction. Abandoned properties are also waiting for buyers in Tuscany. Selling houses for the symbolic price of one euro to attract new residents and investment: this is an unusual anti-depopulation project that the Tuscan municipality of Fabbriche di Vergemoli came up with four years ago. The place, about 18 kilometers northwest of the provincial capital Lucca, has 800 inhabitants. Many of the houses have been empty for decades. Either because the owners have emigrated or because the heirs do not have the financial means to restore them and make them habitable. At Fabbriche di Vergemoli the one euro house project is suspended I draw your attention on this small town in Tuscany, because Tuscany is a very well appraised region in Italy, much coveted by foreigners. Indeed, if you visit the website of Fabbriche di Vergemoli, you’ll notice that the one euro house project is suspended. Thousands of interested parties already Mayor Michele Giannini wants to breathe new life into the village and therefore founded the project “Casa ad 1 Euro” (“Houses for one Euro”) in 2016. Since then, more than 11,000 people have shown an interest in a one-euro house. Giannini has guided tourists from all over the world through the quiet town in recent years. “Through the project we are trying to revive beautiful villages that are gradually becoming extinct,” says the mayor. Because young Italians in particular often leave their small hometowns and move to the cities, while the older generation is slowly being lost. Houses are often in great need of renovation Many of the properties are in a shabby condition and need extensive renovation. Anyone who buys a house for one euro undertakes to cover the costs and the necessary papers. The renovation work must begin within three months of the approval of the building permit and be completed within three years. Renovation work will start in 2021 in 40 houses in Fabbriche di Vergemoli. The Brazilian Douglas Roque is also currently in the middle of the preparations for his renovation. During a vacation in Italy two years ago, the 23-year-old spontaneously decided to go to Tuscany and buy a house. From Sao Paulo, a metropolis of twelve million people, he will soon be heading to Fabbriche di Vergemoli. His brother has also bought a house here in the meantime. Complicated ownership However, buying a property is not always that simple and straightforward. A common problem with one-euro houses is the complicated ownership structure: Houses often belong to several owners, some of whom have emigrated or who have died. “Then it can happen that, after the sale, a hitherto unknown owner or heir suddenly reports who is also claiming ownership,” says art historian and journalist Silvia Mazza, who has dealt intensively with the one-euro houses. Another nasty surprise could come when the first real estate tax bill arrives. Normally, the official value of the houses is much higher than the selling price of one euro – and this bill could then be correspondingly high. For these reasons, the municipalities act as mediators in many regions and help with the bureaucratic processing. Nevertheless, you would probably need the assistance of an Italian lawyer. One euro houses all over Italy In the meantime, many localities have adopted the idea of ​​the “Casa ad 1 Euro”. There are currently houses for sale in around 25 municipalities in Italy for a price of one euro and up. This long-term project should not only ensure the survival of the villages, but ultimately also boost tourism. Because the houses can also be converted into “bed-and-breakfast” accommodations or boutique hotels and could thus provide additional jobs in the regions. In Fabbriche di Vergemoli all vacant houses have since been sold. Mayor Giannini now hopes that the number of residents will soon increase and that more life will return to the town.

1st home in Italy: the cost of taxes to buy it

You should know that, if you are resident abroad, you must establish your residence in Italy if you want to buy a home as your first home to benefit from the associated reduced taxation. Buying the first home is a very important step for many people and should be carefully considered. In this sense, an error that could be made in the first stages of the research is to consider only the sale value of the house. In addition to the cost of the property itself, when we decide to buy a house, we actually have to take into account other expenses that the tax authorities impose on us: some fixed and annual, others one-off. However, it must be considered, more specifically, that the taxes for the purchase of the first home are regulated differently and benefit from certain special measures: here is what they are, how much they could be and how they are calculated. What taxes are paid to buy a house in general Before addressing the specific case of buying a first home, it would be useful to clarify more generally what taxes are required when buying a property. Wanting to simplify the possible scenarios, we could say that the taxes vary according to two conditions: The seller is an individual or a company whose sales are exempt from VAT the seller is a company whose sales are subject to VAT. In the first situation, the buyer will have to pay: proportional registration tax of 9% mortgage tax – 50 euros Cadastral tax – 50 euros In the second case, you will have to pay: VAT – 10% (or 22% if the property belongs to cadastral categories A / 1, A / 8 or A / 9) Registration fee – 200 euros Mortgage tax – 200 euros Cadastral tax – 200 euros First time home purchase: taxes and bonuses When it comes to buying your first home, taxes and duties are calculated differently, as statutory concessions apply. In short, taxes are not completely eliminated, but are reduced in both of the above cases. It does not matter whether you buy the main residence from an individual, from a company that can sell VAT free or from a company whose sales are subject to VAT: well-defined “first housing taxes” apply in all these contexts. . Here are which ones. Purchase and sale from individuals or companies with sales excluding VAT As the Revenue Agency’s example prospectus makes clear, if you are buying your first home from an individual or business with a VAT-free sale, the taxes payable are as follows: Registration tax – at 2% (with a minimum of 1000 euros) Mortgage tax – 50 euros Cadastral tax – 50 euros Purchase and sale from a company whose sales are subject to VAT In the event that you are buying your home from a company whose sales are subject to VAT, the taxes you will need to pay are: VAT – at 4% Registration fee – 200 euros Mortgage tax – 200 euros Cadastral tax – 200 euros First-time home tax breaks: when they are not applied There are exceptions to the tax breaks on the taxes for the first home purchase. The “discounts” in fact do not apply. The house belongs to certain cadastral categories, which we could define very generically as “luxury”. More specifically, if the property you are interested in is classified as A / 1 – stately homes A / 8 – houses in villas A / 9 – castles and palaces of exceptional artistic and historical value it is not among those who can get tax breaks. Main residence: what taxes for garages, garages and warehouses? A full assessment of the tax liabilities for the purchase of the first house cannot fail to take into account the so-called outbuildings, that is, warehouses and garages, closed or open sheds. In these cases, what tax applies? Also in this case, the indications from the Revenue Agency are clear: in the situations just mentioned, and which therefore fall under the cadastral categories C / 2 (warehouses and storage rooms) C / 6 (remittances and garages) C / 7 (awnings), the same subsidized taxes apply to the purchase of the first home. The fundamental condition to be respected is that the outbuildings are permanently intended to serve the main residence; and that in turn, the latter was purchased with the “first house” concessions. Imu, Tari and Tasi: other taxes and exemptions for the first house Among the taxes that the owner will have to pay annually to the municipality, there are no Imu and Tasi. The first house, in fact, is exempt from the payment of these two taxes, but under certain conditions: the property must not be classified as luxury, that is to say enter cadastral categories A / 1, A / 8 or A / 9; the property in question must be the taxpayer’s first residence; the house must be the habitual residence of the taxpayer and all his family. So what do you have to pay? The Tari, that is to say the tax on waste, the cost of which varies according to the size of the property and the number of inhabitants of the municipality in which it is located.

Change in real estate prices in Italy in 2020

How the rental and sale prices of the various types of houses have changed in 2020 Faced with the crisis, the laws often change. It’s better to trust a real estate lawyer Between incentives and bonuses for restructuring, changes in taxation on sales and rentals, paying for the services of a real estate lawyer could save you significant amounts of money, and above all, avoid mistakes with serious consequences. Even more so if you want to make a real estate investment in Italy while living abroad. Italy has been hit by the crisis much more severely than France, Germany and many other European countries. As a result, real estate prices have fallen dramatically over the dozen years starting in 2008. As an example, a house by the sea in Italy costs on average a third of the price of a similar house on the French coast, and can cost up to six times less if it is a house in the south. How did the impact of the covid affect the price trend for homes for sale and rent in 2020? To understand this, Idealista analyzed the average variation in Italy according to the various types of real estate. Penthouses, houses with gardens or swimming pools, but also studios and apartments. Here is the point to understand which house types have seen their value increase or lose. Often, in fact, we have heard of a covid effect on the new housing choices of Italians (but also on a global scale) which, essentially, would result in the identification of new domestic priorities that end up favoring the search for properties with an external outlet, perhaps with a larger size and, why not, perhaps even with a garden or a swimming pool available. Let’s see, with the help of the graphs, what the data held by idealista tell us. Rental properties As it is easy to imagine, the covid effect on prices is more pronounced with regard to rental properties. Moving home, moving from one rental to another is undoubtedly easier than the time and bureaucratic tasks that real estate sales require. But, above all, many negotiations already started have continued without excessive jolts after the lockdown phase. Judging from the data provided by Idealista (on ads of houses for sale and for rent uploaded on the idealista portal), the situation of real estate trends in Italy is more complex than one can imagine, so much so that it would probably make more sense to talk about ” covid effects ” (declining precisely in the plural) and analyze multiple aspects, also clearly distinguishing the market for sales from that of rents, which follow quite different logics (especially in this historical moment). However, the real estate cut that saw prices rise more over the course of 2020, as regards rents (28.9%), but also for homes for sale (8.1%), recorded significant growth, it is the studio apartment. A gap of over 20 percentage points, despite the studio flat being the second type that has grown the most after the two-bedroom apartments (+ 8.9%) among the sales announcements. Another very evident “delta” between the percentages of variation on an annual basis, however, is that between the prices requested for rents and sales of houses in the countryside. The former, in fact, increased by 17.7% while rural properties recorded a -0.7% in the average of the prices requested for sale. Another datum to underline is that, in Italy, on average the advertisements of houses for rent (of any type among those analyzed), did not register negative changes. On the contrary, as regards the ads of houses for sale, prices have decreased for houses with garden and swimming pool (-1.1%), houses without external exposure (-3.5%) and for houses in the countryside (- 0.7%).