Tuscan Feeling Blog

How to buy an apartment in Florence in 3 steps!

Pontevecchio

Pontevecchio

It is the best period to buy a house in Florence, despite the price of apartments is higher than in other Italian cities. The advantage of buying a house in Florence is to have solid an investment in one of the busiest cities in the world tourism. A 30sqm apartment in Florence can make more than 12,000 euros per year through the rent. Buy an apartment through Tuscan Feeling is quick and easy, thanks to our professional services. What are you waiting for? Learn How to Buy an Apartment in Florence in 3 steps!

Street View Florence

Street View Florence

1) First step: choose an international real estate agency

There are no restrictions on foreign ownership in Florence, but any money remitted from outside italy for purchasing property, must be documented to be sure that any money of any resale can be repatriated. The first step is to hire a florentine international real estate agency like Tuscan Feeling, specialist in international business. The real estate will protect your interests, will help you with translations and contracts, will find for you the notary and will help you with the italian burocracy. In addition, an international real estate will put together for you personal visits to many apartments in few days, to help you not to waste your time on the spot. Tuscan Feeling is able to show you apartments with on line guides and will manage for you a one day visit to all the apartments you will ask to see in advance.

S. Spirito Square

S. Spirito Square

2) Second Step: The preliminary contract

If the seller accepts your offer, the deal becomes binding on both parties. Then a preliminary contract will be drawn up by the seller (it is called ‘compromesso’) or a real estate agent, containing the sale price, the amount to be paid as deposit, the completion date, the land boundaries and details of the property, and any other relevant clauses. In the event that you decide not to pursue the purchase, the ‘compromesso’ will be forfeited or the seller may seek legal action. On the other hand, if the seller backs out, he will be liable to pay double the amount you have given as deposit.

Notary Act

Notary Act

3) Third Step: The notary act

For closing the purchase usually it takes more than one month. During this period your real estate agency will find or you a notary that will have the T the responsibility of performing due diligence, he will act for both parties. At the end of this process, you will invited to the notary studio wih the seller and the real estate agent to complete the contract. The real estate agent will help you with translations and can act your role by your permission.You will pay the final balance and sign the deed of sale (it is called ‘rogito’ and it will be witnessed by the notary himself). Of course, this act requires you to present a valid identification document, and your ‘codice fiscale’ (italian tax code). The real estate agent will help you to obtain the ‘codice fiscale’ in advance. You have to have one to buy properties in Italy, also if you already have one in your country. The notary will issue you a copy of the deed and present copies to the tax office (called ‘Agenzia delle Entrate’) and Land Registry (called ‘catasto’). It takes an average of 15 days to complete all the four procedures needed to register a property in Italy. During this days, the real estate agent will follow up all the procedures, including transferring the utilities, get all the keys and be sure that your house in Florence is ok under any aspect.

Tuscan Feeling

Tuscan Feeling

If you want to buy an apartment in Florence, Tuscan Feeling suggests you the following accomodations for rent:

Apt. TUSCANY – 60 m2 – PT. floor (without elevator)

Tuscany Apartment

Tuscany Apartment

Apt. RUFUS – 300 m2 – TERRA+1+2 floor (without elevator) – for 6 persons

Rufus Villa

Rufus Villa

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