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Buying house in Italy

Yes, the financial world is still wobbly, but maybe now is not such a silly time to be thinking about buying property in Italy, precisely in Lucca aerea (Tuscany). We spoke to estate agent Roy Santi, who for over a decade has been selling property throughout the area.

So, is this a good time to buy?
Obviously a lot depends on where you have access to money and of course exchange rates. But yes, there are definitely bargains to be found. For example, from sellers who bought several years ago and are now moving on. There will always be people who need to sell and there are always people who have the money to take advantage.

So what should I be asking myself?
In that sense, it’s no different from buying a house anywhere else. Town, country, seaside, rural seclusion or would you like to be less dependent on a car? What about access to airports, train stations and motorways? Olive grove or terrace? Are you up for a restoration, or perhaps something already restored is more your style? You should have a clear idea as to your brief but also be prepared to compromise. Once you are clear about you wants and dislikes anly then can an agent help realise your abjectives and guide you through a sea of bureaucracy, It maust be said that people instinctively know when a property is right for them.

But an agent will be acting for the seller?
No, in Italy the agent is essentially a broker tasked with bringing the buyer and seller together in a mutually satisfactory deal and their fee is shared between the parties. The only time an agent can be biased is when a buyer invites him to act on his or her behalf in approaching a second agent.

So how do I find a good agent?
Agents must be registred on the professional register held at the local Chamber of Commerce so check there. Do they have an office? While obviously a lot can now be done by internet, a physical base suggests they are not a “fly by night” business and have a local reputation to protect. Ask around, a recommendation is often positive. It helps to have an agent who speaks English, as with many foreign buyers and sellers in Tuscany, English is now often the lingua franca in transactions. But remember if a person does not understand Italian, the deeds can be written in a two language format, failing which a special power of attorney can be given to a bilingual person.

So what does an agent do?
The agent’s role is primarily to understand the needs of a client and assist them in realising their objectives. Once we have found the right property it’s my job to get both the buyer and vendor to the altar! The initial contract between the buyer and the vendor, the “compromesso”, is like an engagement, it outlines the deal. And both parties have to be aware of the financial penalties for pulling out later. Then obviously a time frame is agreed to, by which time the deal must be completed. The seller is obliged to produce evidence of sound title, e.g. deeds, building permits, and the buyer may have to arrange financing and perhaps have a geometra or engineer inspect to property, particulary if it is an older house. When it comes to the “rogito” or final contract, this is where the deal is formally completed, in front of a “notaio” who although paid for by the buyer. is really like the parish priest officiating at the ceremony, making sure everything complies with the rules, collecting the taxes for the State, and then registering the transfer of ownership.

And how much does an agent cost?
A commission of 3% of the selling price is normal, although negotiable on high value properties. The agents are paid at the “compromesso” stage but tend to be present until the final signing and sometimes beyond. Of course it’s not unheard of for people to find their own property to buy, but in these cases I would strongly suggest that they find an agent to step in as their technicial assistant.

So just what should I be budgeting for?
Your agent should be able to advise, but essentially as a buyer you should allow for:
1) the price
2) tax which isa a one off payment, and varies from case to case. It is a percentage of the “valore catastale” and depends on whether it is a primary residence or second home
3) the “notaio’s” fees for countersigning the deal
4) “bolli” one off stamp duty
5) techinical reports from a “geometra” or engineer
6) your share of the agent’s commission.

Find Roy Santi at www.housesintuscany.com
Via Marconi, Barga – Lucca – Tel +39 348 8607786

Take Advantage of Those Cheap Flights

For quite a few years now a number of the airlines labelled “low-cost airlines in Europe have been taking part in a fares war attempting to offer the lowest air fares to a huge number of cities throughout Europe. It’s quite normal to see that one of the leading budget carriers such as Easyjet or Ryanair has an offer of return flights from the UK to Spain, Germany or France for £1 (approx $1.45). There might be airport landing fees and taxes to be added to the fare, but it’s still a real bargain if you’re looking to see a number of European cities. One of the major disadvantages of flying with the budget airlines is that they often fly to the smaller local airports instead of the better known biginternational ones. This can mean that a flight that is supposed to be flying to a major European city actually lands up to fifty miles away. In fact there are a number of advantages with this arrangement, the municipal airports will always provide a much quicker service on check-in and luggage since they’re catering for far fewer flights. The disadvantage is that transportation serving these airports can be scrappy at best and a very popular option is hiring a car from the airport. Here are some of the wonderful cities that we have visited using cheap flights. We are confident that you would enjoy visiting any of these great, they certainly have a lot to offer to visitors to their country.

Glasgow, Scotland

Glasgow, once the butt of so many jokes about the slums of the Gorbals has undergone a Renaissance and is now a fascinating, architecturally diverse city supporting a huge number of tourists throughout the year. The chic West side of the city is the home of the fourth oldest university in the U.K.. Situated on a hill in the middle of the Medieval region of Glasgow, the students contribute a great deal to the fun loving and vibrant atmosphere of that area. The low cost carriers utilise Prestwick Airport which is approximately 35 miles (51 km) to the north east of the city centre and you will find an excellent road between the airport and the city centre. It’s a popular area for sightseeing, so you are advised to hire a car at Glasgow Airport before setting out on your journey. An uncrowded half hour drive from Prestwick along the M77 motorway takes you to the centre of the city. Glasgow is a perfect base for a journey to the Trossachs National Park. Just 20 km (13 mile) drive out of Glasgow and you could discover sensational countryside aback a pony, whilst a 30 mile (50 km) drive eastwards along another excellent motorway will take you to Edinburgh , the city of festivals complete with Princes Street shopping, Holyrood Palace, Edinburgh Castle and the seaside.

Florence, Italy

Undoubtedly one of the most stunningly beautiful cities in Europe, Florence is served by Pisa Airport, which is 84 km (50 miles) west of the city. Rent a car at Pisa airport and you’ll be perfectly positioned to take in Pisa with its leaning tower, the wonders of historic Florence and some of Europe’s most picturesque countryside, that of the majestically beautiful Tuscany. It therefore will not come as a huge surprise that Florence is one of the leading historic cities in the whole of Europe. Once you arrive at the city of Florence you will discover that much of the centre of the city is traffic free thus preserving its many ancient architectural treasures and statues from the vibrations and pollution associated with heavy traffic. The traffic free status overwhelms you with a sense of tranquility as you meander from one fragment of history to the next. You do not need to stray too far before experiencing the ghastly, ear splitting roar of Florence’s legion of scooter riders. Other than the Ponte Vecchio the remainder of the bridges into the centre of the city are polluted, noisy places, thus giving us an added reason to stay within the ancient alleyways and tranquil sanctuaries of Florence’s wonderful piazzas.

Tours, France

Tours is the perfect centre for touring France’s wonderful Loire valley and its stunning chateaux The ideal centre for discovering the Loire Valley famed for its serious selection of palatial residences, Tours boasts quite a number of its own charms. Although the little airport is but a couple of miles out of town, it’s almost essential that you hire a car in the Loire Valley to fully explore some of the most stunning towns and villages to be found anywhere in France. A host of cultural treasures can be found scattered beside the Loire. The Loire valley is a UNESCO World Heritage site and offers scenic countryside, lots of flamboyant castles plus a good scattering of historic villages. Formerly the “Retreat of Kings” back in the days of the Renaissance and the middle ages, the Loire Valley was a favourite location for the French monarchy. Originally constructed as working fortified castles, the buildings were converted into the palatial chaeaux that you will find today. The historic towns that line the river banks are a magnet to tourists from all over the world. Towns such as Chinon, Tours and Orleans have lots to see and do whilst the most popular chateau is possibly that on the Chambord Estate. Throughout the area you will find small, family owned vineyards selling a variety of tasty wines at budget prices. Keep your eyes skinned for the word “degustation”, which means sampling I guess, and as long as ‘Le Patron’ is not enjoying a long leisurely lunch you will be made very welcome and he will be delighted to lead you through a tasting of all his wines. Naturally, it is strongly advised that you take a non-drinker as your chauffer, some of these tasting sessions can become extremely alcoholic!.

Tuscany, Buying a Property

After you have the imported decision of you choice of property and decided to buy, you can either sign a preliminary agreement (contratto preliminare) and then sign a deed of sale (contratto definitivo).

Before doing so, however, you lawyer will check that there are no encumbrances (mortgages or loans over the property,for example)and check all entries in the Land Register up the date of the sale.

The preliminary agreement, which is in written form, stipulates the terms and conditions of the purchase and indicates the contains of the deed of sale and the date for the execution of the deed of sale .

Once the preliminary agreement has been signed ,the purchaser is obligated to buy the property and the seller is obligated to sell it. If one of the parties doesnt execute to deed of sale, yo can either terminate the contract or go to court.The judge will make an order which will produce the some effects as the deed of sale, unless this possibility has been excluded by the preliminary agreement.

A deposit (cappara) is usually paid, the amount being agreed between the parties at the signing of the preliminary agreement. The deposit paid by the purchaser may be a caparra confirmatoria which means that if one of the two parties doesnt execute all the clauses of the contract, the party who has executed all the clauses can decide either to keep the deposit and terminate the contract ask for compensation.

The involvement of a notaio(which is not the same as a British solicitor ) is not essential for the signing of the preliminary agreement. Here in Italy he must only guarantee that the deed is legal, that the house is in order and that the payment is made in a legal manner.

The property is not transferred with the preliminary agreement but with the signing of the deed of sale , which must be in written form. The deed of sale requires the payment of the price minus the deposit already paid, and the consignment of the house.

When a property is sold it is on condition that it is sold in the state in which it was accepted at the time of signing the preliminary agreement. It is therefore of paramount importance that you check everything properly to ensure that no changes have occurred between signing the preliminary agreement and the deed of sale, e.g. changes due to natural causes.

If something has been changed or damaged or is missing,you must bring this to the notice of the seller. You can come to an agreement for a reduction in the price or, if not, you can apply to the court.

Tuscany Creative Ways to Save Money on Travel

Want to get away without breaking the bank? I share a very friendly ways to help you spend more time enjoying yourself and less time worrying about money. Incredible but ture! Just be in touch with me, rent Villa al Boschiglia or Casale Sodini and enjoy my Senior Concierge service to save your money travelling around Tuscany.

Have a look!

Tuscany Holiday, Does Planning Your Trip Save Money? Yes.

Every traveller has a preferred travel style. Some prefer to leave nothing to chance. Everything is booked – the hotel, the car, even the attractions – booked and paid for well in advance.

The Tuscan itinerary is clear and everyone knows the game plan.

Then there’s the spontaneous traveller, the one who wants to take what comes along, good or bad.

Most of us fall somewhere in between, isn’t it?

No problem, but the question is: does planning ahead save money? Here are some of the “yes, yes and for sure yes” answers.

Yes – Planning Ahead Saves Money

If you have zero flexibility on dates, there’s no point in waiting for a last-minute deal on anything unless you have a back-up plan. Plan ahead: get the best deal you can on a Villa or an Hotel with cancellation privileges, if (and this is important) you think it’s likely that a last-minute deal will come along. Don’t forget to cancel in sufficient time if you change to the last-minute deal.

True last-minute deals can be very inexpensive, but they come with hidden costs sometimes. For example, how much will breakfast cost in the last-minute hotel as compared to the pre-booked one? Your savings could disappear pretty quickly if the last-minute place is an expensive cab ride away from the main attractions, especially if you could have pre-booked somewhere central.

You can sometimes save money by planning and paying in advance for your non-refundable accommodation. With reputable firms this is reasonable, as you usually get a better rate than if you do not pay in advance. With firms you don’t know, be very careful!

Accommodation is often the most expensive part of your trip. Once you know what it will cost you, you can be quite specific about the other items in your budget. No surprises!

Surprises are the sort of thing that can be costly. No surprises often means no overspending.

Planning ahead also gives you time to really get the value from using a travel agent, should you choose to do so. You can shop around for an agent you feel comfortable with, and then the agent can work for you and your budget. Remember, time is money. If your time is limited, let the travel agent do what they are trained to do, to find you the best value!

More of a do-it-yourselfer? Then give yourself lots of time to shop around for the deals you want, and to become familiar with the market for whatever it is you’re buying. When you buy a car, you typically research how much cars cost, and for a couple of weeks you probably know the value of one or two models fairly well. The same goes for any type of goods or services – if you study the market for a bit, you soon find out what a reasonable price to pay is. Shoes, cars, villas or hotels, the principle is the same.

The biggest benefit of planning a tour or an holiday is that you will know how much is reasonable to spend on each element of your trip and you can lock in savings when you find them.