Hi, we are Mok@sa, a team of professionals in the real estate sector, who have the fortune and great pleasure of sharing a common life project and the profession of REAL ESTATE AGENT.
If you are reading this article, you have probably heard of us or perhaps we have shared some moments of real life or on social media and for this, we want to thank you for dedicating us in some way, one of the most precious things in life, your TIME.
Our real estate agency, although mainly operating in Umbria and Tuscany, regions with wonderful landscapes, a very high quality of life, an exceptional climate, excellent food and impressive monuments, we carry out our work throughout Italy.
We have always focused maximum attention on the needs and requirements of our customers, constantly expanding our services, with the aim of creating greater opportunities for realizing the wishes of all of you.
In recent years, despite the many changes in the real estate sector, our enormous passion has increasingly pushed us to grow professionally, specializing in the various sectors of the real estate sector, a strategy highly appreciated by those who have chosen Mok@sa, allowing us to increasingly , to share moments of joy belonging to the house together.
We have decided to create this handbook, according to our ideals as a Real Estate Agency, what we do every day for customers who rely on MoK@sa, helping you to understand our “modus operandi” in carrying out our profession, to give you some ideas in make a real estate purchase, giving you the necessary support to realize the dream of buying a house in Italy and why not, helping you to be the protagonist of your “Dolce Vita”.
Important to know
Before starting we want to tell you that every purchase of a house in Italy is unique, as the factors to be evaluated and which orbit around the real estate property/house are multiple (year of construction, location, construction characteristics, hypo-land registry situation, etc etc) .
Every House has a history of experience, every Seller has their own expectations and needs and every Buyer has their own needs but above all, they have their own desires and needs regarding the purchase of their own House. Precisely for these reasons, any advice given in the MoKasa handbook is purely illustrative and must always be contextualized with respect to the Property/House of interest that you wish to purchase.
Below you will find fragments of information, according to our methods, to deal the purchase, strategies and habits that you can, if you wish, use, put into practice for a possible private negotiation and/or compare them with methods of other real estate realities at in order to have a broader and more complete vision when considering “The New Home Concept” of MoK@sa.
Real estate search
Unless you already have clear ideas and/or have identified the desired property, we always recommend that before delving into the web your browse through pages and pages of real estate adverts, which unfortunately are often not very real, and establish the important rules for your purchase carefully, dedicate the right time to carry out a careful analysis of your housing needs and real personal needs and that of your family. This phase is fundamental, focus your attention on your needs, such as:
- Needs of your family unit
- Type, size, characteristics and composition of the property
- Specific real estate request, area of interest, accessories, proximity or distance from other homes and/or services, etc etc,
- Budget for the purchase.
A good Real Estate Consultant who cares about your project, whether it is the purchase of a residential property (villa, house, house, farmhouse, apartment, etc.) and/or commercial property (shop, office, laboratory, etc.), will listen to your needs, will ask appropriate questions, filling out the “real estate requirement request” form together, helping you to better understand your real needs, relating them to the real estate market in a completely objective manner, guiding you to
achieve your goal.
Be rather wary of those “agents/sellers” who immediately offer you properties that are clearly unsuitable for your needs, perhaps their primary objective is their business and not your dream.
Real estate viewing appointment
After having established the real housing needs and therefore identified the property to be viewed, we proceed with the inspection of the selected real estate property. A MoK@sa Consultant will accompany you in viewing the property of which you will evaluate the characteristics, layout, comforts, but above all you will be able to evaluate the emotions and sensations you feel while staying in the house.
During the inspection, the technical and administrative documentation of the property is also examined, in order to subsequently be able to make all considerations regarding the possible purchase.
End of real estate search
Have you viewed a property and is it of interest to you?
Here are the steps to get started to make your dream come true!
If you like the property you have viewed, are interested in it and consider it suitable for your needs and requirements, specify in written form what your “promise to purchase” wishes are. This purchase promise is a commitment that you assume, regarding the possible purchase, by signing a form made available by the
real estate agency and filled out together with the potential buyer, “Real Estate Purchase Proposal”, which must contain important and necessary information for the start of negotiations.
Among the information to be entered are the references of the owner and the potential buyer, the information of the property and year of construction, the date by which the transfer of ownership from the seller to the new buyer must be carried out (Notarial Deed), the price offered and the deposit sums to be released upon signing the “Real Estate Purchase Proposal”.
Compiling and signing the purchase proposal does not give certainty of having purchased or will purchase a house, but is the start of a negotiation and this is why its validity has an expiry date within which, the owner/seller after having viewed and evaluated the contents of the purchase proposal, will sign it for approval if he accepts the conditions stated, or refusal, if he does not intend to continue with the negotiation.
In the first case, with the acceptance of the seller, we can say that we have concluded the deal and therefore that we have created the “Preliminary Sale and Purchase Agreement”, with substantial rights and duties in relation to the concluded contract. In the second case, however, with the refusal by the Seller/Owner, the proposing/promissory purchaser will be free from any contractual obligation without any charge and if he has released the deposit sums at the same time as signing
the Purchase Proposal they will be returned to him without no interest.
Preliminary purchase agreement
In many cases and if the Purchase Proposal requires it, you could also sign a Preliminary Sale Agreement. The preliminary real estate purchase and sale contract, often also called compromise, is the agreement signed between two or more parties.
By signing the aforementioned preliminary sale agreement, the parties mutually oblige each other to sell (seller) and purchase (buyer) the real estate property, as this contract produces obligatory effects. It will contain the conditions present in the Purchase Proposal and will establish the salient points that will be found in the final contract, also known as the Notarial Deed.
The preliminary agreement, being a private agreement, can be signed between the parties completely independently, without the need to contact any professional.
However, to be considered effective and with obligatory effects, a preliminary contract must contain form and essential elements, under penalty of its nullity and for this reason we believe it is appropriate to always make use of the presence of the Consultant.
The signed preliminary agreement must be registered with the Revenue Agency. In this regard, it must be clarified that the preliminary agreement, even if not registered, remains valid and binds the parties to compliance with the conditions contained therein and to the signing of the notarial deed. Registration in fact represents a requirement for exclusively fiscal purposes, failure to comply with which potentially exposes the parties to administrative sanctions.
Registration is subject to costs, which costs, unless otherwise agreed, are borne by the buyer.
The preliminary contract, in addition to being registered, can be transcribed in the Real Estate Registry. Since it is not mandatory, if you decide to want to transcribe the preliminary document, the latter must necessarily be drawn up and transcribed by a Notary.
The transcription is particularly useful for the buyer as it protects him from any operations relating to the property carried out or “suffered” by the seller”. An example above all is the possible resale of the real estate property to third parties and/or any mortgage registrations subsequent to the date of registration. Transcription involves additional costs compared to registration and is advisable especially when there is a long time between the signing of the preliminary contract and the notarial deed.
NOTARIAL DEED
The deed of sale is a written contract with which real estate ownership is transferred from a seller to a buyer. To be valid it must be signed by a notary who authenticates it and transcribes it to the Real Estate Registry.
The agreements and conditions that the parties involved will have established in the preliminary agreement will be confirmed in the notarial deed. The Notary will have to verify the regularity of the real estate ownership in terms of urban planning/land registry and mortgage.
The costs of the notarial deed are borne by the buyer and basically consist of registration, mortgage and land registry taxes, to which is added the Notary’s fee.
Regarding the registration tax, it is worth specifying that in the case of buying from a private individual, this corresponds to 2% of the cadastral value for the purchase of a first home, rising to 9% in other cases.
If you buy from a company, the registration tax is replaced by VAT which will be 4% and 10% depending on the first home or not and will be calculated on the sale price.