# buying a holiday home



## suiko (Dec 7, 2015)

Thinking of doing this in the next couple of months.

Just wanted to check what documentation is needed to start off the process (I'm an EU citizen... still!), and what kind of down payment is needed. Also - what additional expenses are there on top of the price?


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## NickZ (Jun 26, 2009)

At some point you'll need a tax number. AKA codice fiscale. The estate agent often can help you get this. Takes very little time.

I guess your passport.

Other fees.

Estate agent. Depends on area and property price

Taxes. Second homes I think are about 10%. 

Notaio

If you aren't fluent you'll have to hire a translator. No idea how much. 

Down payment for the offer? Or are you hoping to get a mortgage? 

Offer down payment isn't very high. How much will depend on the price and how interested the seller is in selling.


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## suiko (Dec 7, 2015)

Thanks, Nick. So no standard down payment?

It's in Sicily. Under €50,000. Would be a cash payment.

I have a codice fiscale. I think, from when I worked in Naples. Don't think I'll need a translator.

If I come and see the house and decide I want it, what should I do there and then (will only be able to be in Sicily for 2 or 3 days for now).


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## NickZ (Jun 26, 2009)

Under 50K likely €5k or less. I would try €1k. If the seller really wants to sell it likely won't be a problem. If it is you can always up it. At the next stage you'll be paying a second amount anyways. 

I wouldn't rush. You can make an offer but with only three days will you really be ready? How well do you know the area? How many properties do you think you can see in three days?


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## GeordieBorn (Jul 15, 2016)

You sound mad....  It's just the number of days....


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## suiko (Dec 7, 2015)

I've been in the area before, and think it would have some potential for renting out as well as to live in, because of location (cultural stuff and beach nearby). Could certainly take in a couple of other houses. I'd rather have more time, but there's no way I'm going to be able to before September or October. It's not much money, after all. 

How much commission does one normally pay the agent?


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## NickZ (Jun 26, 2009)

I think it varies by area plus by home value. It could be 2k it could be more than twice that.

I thought you intended to move full time? If so tell the notaio that it's a prima casa. If the rules haven't changed you'll have a year to establish residency. If during that time you can't you can just pay the difference.

It's not up to you on the translator. It's up to the notaio. If they think your Italian is weak they'll require the translator.


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## GeordieBorn (Jul 15, 2016)

A lot of agents have a minimum charge. 3% is common, but I've heard of others trying to charge more. It can be negotiated. Last I heard was you had 18 month re prima casa.


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## NickZ (Jun 26, 2009)

Maybe it depends on the area but for low price properties they tend to charge a fixed amount and not a percentage. At least in my experience. 

But ask the agent. It's good to ask a few agents in the area. This way you'll understand what they locally do.


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## John and Cecil (Dec 22, 2019)

I believe if you declare that it is going to your primary home and then 18 months later (or whatever the time limit is for establishing residency) you end up not making it your primary home then you need to pay back the difference PLUS a penalty. I believe the penalty is 20% of the amount you underpaid in the beginning if my memory is correct. Perhaps someone will know more, but I would research this before claiming you will be making it your primary residence.


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## NickZ (Jun 26, 2009)

The penalty is if you don't pay before they send you a demand for payment. If it turns out you can't establish residency before the cut off and pay without being required to you're fine. You might need to pay something extra to the notaio. I'm sure somebody would want some money to amend the paperwork.


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## NickZ (Jun 26, 2009)

https://www.agenziaentrate.gov.it/portale/documents/20143/298189/Circolare+n.+27E+del+13+giugno+2016_Circolare+n_27_E+del+13+giugno+2016.pdf/f7438f13-603e-6a1b-d8d8-e9f0afe34698




> In particolare, con la risoluzione n. 105/E del 2011, è stata esaminata l’ipotesi di
> mancato trasferimento della residenza, nel termine di 18 mesi, nel comune in cui
> è sito l’immobile acquistato. In tale sede, è stato chiarito che qualora risulti
> ancora pendente il termine di 18 mesi, l’acquirente può revocare la dichiarazione
> ...


So no fine just interest which shouldn't be that much.


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