Ready to make your dream of living in Florence a reality?
Then look no further than the real estate agency Pitcher & Flaccomio! The family-owned Florence-based agency offers assistance all aspects of buying property in Florence and Tuscany, from contracts, notary officials, lawyers, translators and anything else that is needed when purchasing (or selling) property in Italy.
Pitcher & Flaccomio specialises in Florence and the immediate surrounding areas, but also has a wide network across all of Tuscany and the region of Umbria, where properties of every type are in high demand. They can also help in finding properties in other areas, thanks to their personal contacts with agents cross all of Italy. If you are thinking of buying or selling a property in Italy, Pitcher & Flaccomio are legally qualified to act as your agent through all negotiations and legal procedures. Take a look at Pitcher & Flaccomio's website to see listings of various properties on the market now!
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Florence & Chianti are their specialty
Pitcher & Flaccomio specialise in the city of Florence, the Chianti wine region, and many other properties across all of Tuscany (plus some areas of Umbria). In collaboration with other agents, Pitcher & Flaccomio can offer an extended area of search for anyone looking across Italy.
Here are some basic details about buying property in Italy that you should know, whether you are ready to start your search or not. This will surely help as you start planning how to make your dreams of living in Italy come true!
WHO CAN BUY A PROPERTY IN ITALY?
Most people can, although there are a few countries whose citizens are not allowed, for reasons of reciprocity. Please make further enquires should you have doubts. For this reason, working with a local agent is really quite a necessity... but sometimes even to start, you need to know whether you can or not.
BUYING FOR INVESTMENT OR TO CREATE A HOME?
With the introduction of the common European currency (the Euro) at the beginning of 2002, it seems that properties in general have increased in price unfortunately. But one positive aspect of this, is that the real estate market is now open to foreign investors as well beyond Europeans. There are no longer borders across the major portion of Europe hence money can travel freely from one common market country to another (except for UK).
CONSIDERATION WHEN BUYING
If you're ready to take the first step and contact Pitcher & Flaccomio to consider them as your agent, start by making a list of what you want: your general requirements in what you're looking for, preferred price range, needs and desires. This from the very start will help determine if Pitcher & Flaccomio are the right agents for you! Corso and his team at P&F will send you information on all properties that will fit your search criteria, and will eventually advise you to come and take a look at them. If you're serious about buying a property in Italy, you should take a look at what is on the market now. Since Florence is a small and sought after area, properties come and go very rapidly.
Corso and his team can show you the available properties in your chosen price range, and inspect and report on those that most interest you from afar. They can then negotiate buying and selling prices and arrange the mandatory technical certification on the condition of the property. On your behalf, P&F will also follow through on the complicated and sometimes protracted legal procedure entailed in dealing in property in Italy. Pitcher & Flaccomio act in all respects in your best interests to assist you in buying or selling your property to your advantage.
ARE YOU CONSIDERING SELLING ON THE OTHER HAND?
Pitcher & Flaccomio does not ask for exclusivity in selling a property, though they firmly believe it is in your interests if one agency handles the sale. P&F organizes the best ways to advertise your property, schedule all appointments as well as advice you on what can be done to improve and accentuate the positive aspects of your property.
Pitcher & Flaccomio only represent properties that have their complete documentation in order.
WHAT ARE AVERAGE AGENCY FEES?
In Italy, real-estate agents receive a commission from both sides: that is, their commission is a percentage paid by both the buyer and the seller. This percentage my change from client to client but, generally speaking, the Chamber of Commerce in Florence proposes that agents collect 3% from both the seller and the buyer for a total of 6% commission. When billing, an additional 20% VAT tax will be added.
Pitcher & Flaccomio also works as consultants for clients who want an introductory reconnaissance of the area. This may include viewing of properties on their and other agent's lists, where the pros and cons can be discussed from a living or potential rental point of view.
This is a service for clients who wish to assess the general suitability of purchase in Italy and is charged as a consultant fee per hour. This amount will be subsequently deducted from the commission should one eventually buy a property through their agency.
SOME FREQUENTLY ASKED QUESTIONS ABOUT BUYING PROPERTY IN ITALY
Here are a few of the most frequent questions that Pitcher & Flaccomio receive that they shared with us in order to help anyone with basic questions about coming to live and buy property in Italy. We hope they can be useful as a first step, but please make sure to contact an agent, such as Pitcher & Flaccomio, to discuss any doubts pertinent to your situation.
Can American citizens buy in Italy?
Yes.
Can Australians buy in Italy? What about other nationalities?
Yes, Australians can buy property too without a problem. As far as other nationalities, it depends on reciprocity laws: in general, if Italians can pruchase properties in your country, then citizens of your country can also do so in Italy. If there is no reciprocity agreement, one way to purchase property is though a company (with at least one Italian partner). This set-up is not particularly difficult to arrange.
Can I get my money out of the country if I wish to sell the apartment?
Yes, it is very easy to export funds through a bank.
Will I pay taxes?
Yes, there are municipal taxes to pay on every property, and once you own a property in Italy, you will have to file a personal tax return in Italy.
May I put in an elevator?
Yes, if there is sufficient space to receive a permit for the job. You can share the cost between all the condominium members who agree to participate.
Is my area a safe neighbourhood?
As long time residents in the city of Florence, we feel the city is very safe but I am sure experts such as Corso and his staff at Pitcher and Flaccomio will know all the ins and outs of specific areas across the city and beyond. There seem to be no particularly BAD areas in the historical center of Florence, although you might want to avoid some areas because of a lot of traffic and noise. This does not mean that out of the city you won't find less attractive areas as some areas can be dedicated to commercial activities. Generally speaking, Italy is not a violent country. The one thing we all worry about in any neighbourhood is getting pick-pocketed, whether you're a resident or not. I think this is a concern across the world though!
How much money does one have to put down immediately?
This varies, it is a sign of good faith in the first step of the process of buying a home in Italy. Depending on the value of the property, it can be anywhere from 5,000 to 15,000 euro.
Is the price negotiable?
Yes, you must always try to negotiate a better price!
What is a notaio (notary official)?
Someone who represents the Italian State.
What is the process in signing a contract?
In Italy, only a notary (notaio) can officiate, create and validate a contract, whether it be for buying or selling a property, establishing a company or a partnership etc.
Can I have a lawyer instead of the notaio?
No, but should you wish your lawyer be present at the contract signing, he or she can be present. Your lawyer can advise you regarding the contract but he/she cannot substitute the role of the notary.
How long has Pitcher and Flaccomio been in business?
Suzanne Pitcher has been in the real estate business in Florence for over 25 years. Her son, Corso Flaccomio, was made a partner after many years of active involvement in the company and heads the real estate division.
What sets Pitcher and Flaccomio apart from others?
Everyone at Pitcher and Flaccomio offers a high level of personal involvement and attention to detail for each client's requests. Their bicultural background gives them insight both into what the buyer's needs are as well as the seller's. Since their experience lies not only in buying and selling property, but creating a valid rental situation as well, they are especially well-suited to helping non-Italians though the ins-and-outs of the local market.
I've never heard of anything like the Italian procedure for property sales; does it work?
The procedure involving the notaio (notary) has been in use for several centuries and seems to work perfectly. These individuals are highly respected members of their community and their professional reputation depends on their title research and on being responsible to all parties involved.
Do I need to speak Italian to buy property in Italy?
Eventually you will want to learn as much Italian as possible to fully enjoy all the country has to offer. But part of the job that Pitcher and Flaccomio is specialized in is to facilitate your purchase of a home in Florence or Tuscany by translating and otherwise explaining the transfer procedures, taxes, and so forth. So whenever you feel ready to start the process, make sure to seek out professionals such as Pitcher & Flaccomio for your search. They will be able to answer many more details on the process and what to expect, guiding you along the entire way.
Go to Pitcher & Flaccomio's website
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