2935 New House Purhase Rules

Hello Everybody, I have just signed a compromesso for my house purchase in Le Marche and I have found out it would be advantageous to me to complete the purchase using the new rules for the rogito that were announced in December. I thought I knew what I was doing with the old rules but now I am confused. Can anybody tell me what requirements I need to meet to obtain the 20% notary reduction? The property is derelict so not a luxury property, it is being changed from agricultural to urban before the final act and I have requested the notary to apply the new rules. He tells me I need to meet certain criteria to get the 20% discount on his fees but has been a bit elusive as to what these criteria actually are.

Hope somebody out there can help

Category
Property Sales/Rental Advice

Submitted by Anonymous (not verified) on Tue, 03/14/2006 - 02:54

[QUOTE=Mandy2]Hello Everybody, I have just signed a compromesso for my house purchase in Le Marche and I have found out it would be advantageous to me to complete the purchase using the new rules for the rogito that were announced in December. I thought I knew what I was doing with the old rules but now I am confused. Can anybody tell me what requirements I need to meet to obtain the 20% notary reduction? The property is derelict so not a luxury property, it is being changed from agricultural to urban before the final act and I have requested the notary to apply the new rules. He tells me I need to meet certain criteria to get the 20% discount on his fees but has been a bit elusive as to what these criteria actually are.

Hope somebody out there can help[/QUOTE]

The criteria are:
- vendor and purchaser not acting for commercial or professional purposes (i.e. common citizens)
- the house must be an urban house (plus eventually a garage or a small store-room/attic).
If these criteria are respected, the purchaser pays the taxes on tha cadastrial value only, even if the price is different and higher and the notary's fee has a 20% discount

Submitted by Anonymous (not verified) on Tue, 03/14/2006 - 03:24

I think its worth mentioning that the 20% discount on the Notary's fee is to soften the impact of the fact that by declaring the actual price, rather than the Valore Catastale, as you would previously have done, the Notary's fee is set higher up the sliding scale than it would have been before.

Submitted by Anonymous (not verified) on Tue, 03/14/2006 - 03:55

The only problem that I can see is that sellers could get locked into paying more capital gains tax, if the atto was done under the old system when they originally purchased. Anyone got any thoughts on this?

Submitted by Anonymous (not verified) on Tue, 03/14/2006 - 04:22

[QUOTE=The Smiths in Puglia]The only problem that I can see is that sellers could get locked into paying more capital gains tax, if the atto was done under the old system when they originally purchased. Anyone got any thoughts on this?[/QUOTE]
It could happen only if the vendor bought less than 5 years ago.
Otherwise there's no capital gain and even in the first hypotesis, there's no capital gain if the vendor bought as "prima casa" and used the selling house as his/her real "prima casa". i.e. lived there for more than half of the past year.