Buying a house
on Lake Garda

Italian bureaucracy is often very complex, so to avoid errors and omissions, it’s important to have a thorough understanding of all the steps required to purchase a home in Italy.

The experience and reliability of the Gardalive team will surely guide and assist you throughout the entire process leading to the realization of your dream.

This is the first thing you need to do, and it’s essential for buying a home in Italy. It uniquely identifies individuals residing in Italy (don’t worry, we’ll arrange the appointment and take you to the appropriate office).

Before finalizing the purchase contract, we perform a Land Registry check to verify whether the property is properly registered, belongs to the seller, and is not encumbered by mortgages, foreclosures, seizures, or other liens. This ensures a safe purchase.

• The purchase offer must contain the essential elements of the contract, including the offered price, terms, and payment terms. It must also specify the validity period within which the seller’s acceptance must be received by the offeror.
• The purchase offer becomes binding on the seller when they provide their unequivocal, written signature for acceptance.
• Once the seller has provided their signature for acceptance and the buyer has been informed of the acceptance, the purchase offer is registered with the public authorities, which then constitutes a Preliminary Contract (or compromise).
  The purchase offer/preliminary contract must specify all the contract details and, once signed, binds the parties to the positions they have assumed.
• The purchase offer/preliminary contract requires the prospective buyer to pay a deposit; this amount will be deducted from the agreed-upon sale price upon signing the deed.
• If the seller wishes to cancel the contract, they will be required to return the buyer’s deposit plus an amount equivalent to the deposit itself.
• The buyer may also exercise the right of withdrawal, but will lose the entire deposit previously paid.

The transfer of ownership of real estate from seller to buyer occurs only with the execution of a notarial deed, a public document drawn up in writing by a notary (a public official who by law must be impartial and therefore protect all parties equally) with the formalities required by law; the choice of notary is generally up to the buyer. If the buyer does not speak Italian, the deed will be drawn up in both Italian and the buyer’s native language.

The costs of purchasing a property are paid directly to the notary, who is the person entrusted by the state with tax collection. The costs vary depending on the property’s price; once we’ve identified the property, we’ll provide you with a written, detailed estimate of the costs you’ll incur for the potential purchase (VAT/registration tax, notary fee, and real estate agency commission).

We transparently consider all incidental and recurring expenses related to property ownership:

• Opening a bank account: It’s useful to have a bank account in Italy both because it streamlines payment procedures and because it will be necessary for direct debiting of utilities (again, you don’t have to worry about anything; we’ll evaluate the best bank for your needs and open the account together).
• Condominium fees: If you purchase an apartment in a condominium, you’ll have to pay an amount that will vary depending on the apartment’s square footage and the amenities offered.
• IUC (Single Municipal Tax): This includes the property tax (IMU, based on cadastral income), waste tax (TARI, calculated on square meters and occupants), and services tax (TASI). Each municipality sets the amount within parameters dictated by the Italian government.
• Utilities: standard electricity, gas, and water supply.

We offer a comprehensive ecosystem of international consultants and partners to support every aspect of your move:

• Financial Brokerage: Finding the ideal financing with leading international banks (maximum applicant age at mortgage end: 75, financing up to 60% LTV, maximum mortgage term: 20 years, maximum payment-to-income ratio: 30%).
• International legal assistance and bilingual tax advice to maximize your tax peace of mind.
• Consultations for customized insurance coverage.
• Property design, construction, and renovation, leveraging the professionalism of established technical firms and reliable construction companies.
• Dedicated interior design services to furnish your new lakeside home.