Fiscal, Financial Compliance
and Analysis of the Seller

This page provides a combined discussion of the two areas of "financial compliance" and "identification of the seller", to simply the reading and especially the presentation of concepts.

This page provides a combined discussion of the two areas of "financial compliance" and "identification of the seller", to simply the reading and especially the presentation of concepts.

It is very important to understand if the subject from whom you are going to buy is a private individual or a company.

Why is this distinction important?

First of all because it changes the nature of the taxation that will apply to your transaction. If you buy your new property from a physical person the tax regime for the purchase will be clear.

If you buy the property from an entity such as a company, meaning a "legal person" rather than a physical person, the tax regime will vary greatly depending on the type of company and some other variables. Among these variables is the consideration of whether the seller renovated the property or built if from scratch, and thus the date of filing the official declaration of "end of work".

The analysis of the seller is of fundamental importance and must be conducted prior to formulating your purchase offer, because the differences in taxation can be so high as to make the entire operation unattractive.

We advise you to be extremely prudent in the analysis of these factors, so that you can carefully calibrate any economic offer made to the Seller based on clear knowledge of the tax burden.

By contacting us, you will be able to obtain a clear, exact and certified estimate of the costs of taxation that you will incur at the time of the notarial deed (the final purchase contract). CERTIFIED-PROPERTY is able to provide you with a clear and exact picture, under all circumstances. There are also other elements to consider, too often overlooked, which can determine very serious consequences even after the date of purchase.

Some categories of Sellers may be subject to a process developing after the sale of the property, and then involve you in spite of an apparent clear purchase.

Articles 2901 of the Italian Civil Code and 66 of the Bankruptcy Law govern what is known as "Revocatory Action".

What is Revocatory Action?

Revocatory Action is a legal means of preserving the status of an asset as a guarantee. To simplify the explanation for the real estate field: it is an instrument by which the courts, under certain conditions, can nullify a deed of property purchase in order to guarantee that the asset goes to satisfying the previous creditors, to whom the Seller was already debtor.

The creditors to whom your Seller was indebted may be, for various reasons, private individuals, companies, other legal entities, and even the Italian State through the Revenue Agency. So, under certain conditions, it could happen that one day, the property you have regularly purchased and paid for is in fact no longer yours.

Of course you can oppose this measure and you can try legal actions to try to recover at least part of the money you have spent, but in reality this is very difficult, and above all it exposes you to legal proceedings that will typically last for years. All this with the consequent legal costs, and above all with your involvement in very worrying issues.

A careful prior analysis of the status and situation of the Seller from whom you will purchase your new property allows you to avoid the risks we have described.

CERTIFIED-PROPERTIES ITALIA is at your service to carry out a careful analysis of the Seller and make your peace of mind part of our satisfaction. The last issue we would like to discuss in this session is that any mortgage you might take out, in order to purchase your new property. By selecting from the wide range of financial instruments on offer you can obtain the necessary assistance for finalising your purchase operation, however the variables involved required careful attention.

In fact, in addition to the usual collateral guarantees, some banks require that you also subscribe to insurance guarantees. These are often quite costly to the purchaser, and so compromise the apparent advantage of the advertised interest rates.

There are also situations that can make some banks preferable to others, in consideration of the buyer's foreign nationality or form of employment. Different banks will also be more or less suitable in consideration of the mortgage value, relative to the purchase price and appraised value: some banks have preset limits with respect to this percentage; others are more flexible, perhaps increasing the interest rate by a few decimal points if the percentage exceeds certain thresholds.

Our certification, following verification of the above, will avoid any kind of problem, unwelcome surprise or dispute, before, during and after the purchase of your new property. And it will save you from long, exhausting and expensive legal proceedings in Italy, allowing you to benefit from absolute peace of mind and the pleasure of your new purchase.

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