Preliminary Contract :

This private, legally secured purchase and sales promise guarantees the property to the buyer on the one hand, and on the other hand gives the seller the security that the buyer is committed to buy. The preliminary contract is, in its contents and formulation, very similar to the subsequent notarial contract of purchase and, owing to the contractual promise of both parties; it represents an obligation on both sides. It includes all terms and conditions, methods of payment, dates for the final contract and any other details deemed important. We recommend that this is
done with the assistance of a public notary. The preliminary contract comes into force with a deposit (Caparra Confirmatoria), which amounts to approx. 30% of the purchase price.

The Caparra Confirmatoria, which is regulated by § 1385 of the Codice Civile (Italian Civil Code), is due from the buyer.
The deposit signifies the buyer's serious intention to purchase the property, and by accepting the deposit, the seller expresses his commitment to sell. Should there be a failure to comply with the contract of the Caparra Confirmatoria, the regulations are as follows:
should it be the fault of the buyer, he loses his deposit, should the seller withdraw from the contract, he is committed to refund the full amount of the deposit plus an equal amount to the buyer. This makes the penalty for default an equal amount for both parties.

In order to give our clients the total guarantee of the risk, we offer a primary bank guarantee for the same amount of the Caparra Confirmatoria. In case of impossibility of ending the property, this amount will be paid in full by the bank to the buyer.

No payment of any commission is due because the buyer purchases directly from the developer.

Final Contract :

The contract of purchase is usually signed once the restoration has been completed and the property is ready for occupation. Beforehand, the public notary investigates whether the legal and historical origins of the property are incontestable, and after the contract has been signed, he orders the transfer of title in the land registry. The final contract will be registered at the property registration office (Ufficio Catastale and the Conservatoria dei Registri Immobiliari) and is recognised as the contract on which the registration tax is calculated. Now, the balance, the notary's fee and the payments for the registration tax are paid.

On signing the final contract the registration tax is to be paid, which the notary will retain.
The calculation of the registration tax is not based on the purchase price, but on the property's value declared in the land registry (Reddito Catastale), which may be lower than the purchase price.
10% for a second home.
4%, the reduced registration tax for a primary place of residence.