Prices are up and sales down in Tuscany.
Sales will drop by an estimated 1.4% by the end of 2008, while house prices will go up by 2.2%. As a result the residential market turnover will only be marginally down (-0.5%) over 2007.
This is the first time Tuscan residential turnover fails to increase in seven years-it grew consistently since 2001, with a 33% rise in the provincial capitals and a 40% one elsewhere. That said, when seen in the wider context of the Italian and European property markets, "the performance of Tuscany's residential sector is positive.
Sales chiefly declined in the provincial capitals (-4.8%) whereas, outside them, they went up by about 1%. Sale times became longer (from six to 12 months for any property) and the margins for negotiation over the asking price are wider. Prices slowed down more markedly for some specific housing categories (homes in urban outskirts or semi-central areas, and in some provinces) than others-residential properties in the city centres of Florence, Pisa, Prato and Siena all recorded increases of 4.3% or more.
In line with the rest of Italy, prime properties in sought-after city neighbourhoods also saw a healthier price increase than other market segments-they went up by an average 3.5%.
Overall, we can expects the Tuscan market to remain stable in 2009, with a 1% increase in prices, a further drop in sales volumes (in the region of 2%) and a total increase in residential property turnover of 0.5%.
These topline figures, however, chiefly refer to the town and city markets-the provincial capitals alone account for 39% of all residential sales in 2008. Tuscany has about 1800 villages with unique architecture set against an exceptional landscape, these places depend from the bigger towns for many functions. As a result, towns have a great power of attraction, which keeps growing-60% of Tuscany's inhabitants live in the 38 most populated municipalities, which count more than 28,000 people. The property market's structure is based on this territorial traits, so the sector's performance is largely dependent on sales volumes, prices achieved and supply offered in the top 38 municipalities.
Although the town and country markets are obviously interlinked, they do have some differences. In the rural market, for example, sale times and discounts over the asking prices have not increased to the same extent as they have in town. For this reason, prospective countryside buyers should take these regional trends with a pinch of salt.
This is particularly true for foreigners, whose property preferences tend to diverge from Italians. The vast majority of Italian buyers, also due to cost reasons, would like a city flat, preferably with a terrace, whereas the property of choice among foreign buyers - a country house - is only popular with 1/3 of the Italians.
Monday, May 11, 2009
Tuscan property market remains stable
Something to know before starting to search your home in Italy
Taxes in Italy
The two things in life we can't avoid, death and taxes. If you thought the taxman was on your case back in the UK or US, you ain't seen nothing yet. Italians ‘enjoy' countless different types of taxation, levied on a local, regional and national level - everything from income tax to a levy for taking away the trash.
Buying property in Italy and paying tax
Following you'll find a whistlestop tour of tax as it applies to living in Italy. A couple of provisos though: this is only a guide and should not be used as the basis for your tax planning. Tax law changes by the year and you must consult a tax professional before making any decisions which may change your status or liability. That professional in Italy is a commercialista, though we strongly advise you to also confer with an accountant or adviser back home.
Buying property in Italy and paying tax
Taxation is very high in Italy, with Italians handing over up to 45 per cent of their gross income to the authorities. But there is an upside for foreigners here. You have to pay your tax somewhere, but you can elect to be a taxpayer in Italy or at home (we'd obviously advise you to keep your tax affairs at home). By doing so, you'll enjoy the cheap cost of living in Italy, while sheltering yourself from the usurious tax laws ... and you'll be better off as a result.
Real estate in Italy - your bank account
You have to steer a little carefully to ensure you don't become liable to Italian taxation. One of the prime areas is the location of your assets. Don't transfer all your money into an Italian account as not only are the bank charges high (and Italian banks have a long way to go to match the efficiency and competitiveness of their UK and American counterparts), but you may become liable for Italian tax. Maintain a home (or offshore bank account) and only transfer cash into an Italian account as you need it. After all, with debit and credit cards, electronic and internet banking and the rest, you don't need a local bank branch these days (you possibly don't have one anyway).
You must inform your home tax authority in UK or the US whether you are to be resident in Italy or at home, and where you should be assessed for tax purposes; otherwise you risk being taxed in both countries. As an expatriate you may also be able to keep your accounts offshore in tax havens such as Gibraltar or the Channel Islands.
Buy property in Italy, paying income tax in Italy
If you elect to pay income tax in Italy, you'll find it an expensive tax. IRPEF (Imposta sui redditi delle persone fisiche) is a progressive tax and has a low starting threshold, though thanks to the Berlusconi government the top levels are lower than they were. Up to €15000 it's charged at 23%; €15001 to €29000 at 29%; €29001 to €32600 the rate is 31%; €32601 to €70000 €39%; €70001 and above the rate rises to 45%.
Unusually, IRPEF doesn't just relate to earned incomes or salaries: it's also levied on the presumed value of your house. While we may just about be able to swallow paying Capital Gains Tax on the increase in the value of our houses when we sell them, being taxed on the notional, year-by-year increase is a bit of a shocker.
The rate varies depending on the region and city, and there are allowances for dependent spouses and children. There are also allowances for medical bills, mortgage interest, university fees and life assurance. Tax is charged PAYE and is adjusted the following year. If you are a self-employed worker in Italy, you'll be partly taxed at source and partly on what you declare ... get a commercialista, who will handle your tax affairs for you. You'll also pay social security contributions of around 10% of your income.
Living in Italy - your tax number or codice fiscale
Everybody, whether Italian or foreign, who takes part in financial transactions in the country needs a tax identification number or codice fiscale. You'll become taxable as residents once you do 183 days work (more than half the year) in Italy. Let's not deny, it's a complex system. Tax evasion is traditionally much more common than in the UK or US. At the top levels of ‘supertax', rates have been historically very high and evasion rife. 83% of the population declare an income of less than €4000pa. And many of us will be confused by the Italian system of tax amnesties and the reporting requirements for foreign investments. Another complication is that your possessions are taxable, not just your income, so for goodness sake don't move your yacht and Jaguar to Italy, as they may become tax liabilities. Again, call the commercialista.
Taxes for businesses in Italy
IRAP is an issue if you are planning to set up a business or work on a self-employed basis in Italy. The smallest companies will pay this, though how much depends on region, and the basic rate is 4.25%. Businesses also need to become familiar with IVA (roughly equating to UK VAT or US sales taxes) and the codice fiscale. IVA (Imposta sul valore aggiunto) rises in stages from 4% to 10% to 20%. Standard rate is 20% for clothes, food is 10%.
Other taxes in Italy attached to property
Once you own real estate in Italy, you'll become liable for another new tax, ICI (Imposta Comunale sugli Immobili). This is a property tax levied by the comune (the equivalent of your local council in the UK or US) and based on the rateable value (valore catastale) of your house, rather like the Council Tax in the UK. Annoyingly, you can't set up Direct Debits or put a cheque in the post, paying your ICI involves queueing up to pay at the post office twice a year.
There is tax payable on completion of your purchase of real estate, such as L'imposta del registro, you can read more about that in our section on completing the sale. There is also VAT or sales tax to pay if you buy real estate from a builder or a housing association or co-op. This ranges from 4% - 10% depending on whether it's to be your main domicile, whether you already live in the municipality or if it's to be a second home.
Inheritance and capital gains tax in Italy
There is some good news however. While property values are periodically taxed via IRPEF, there is now no capital gains tax on property (the former INVIM) and there is no wealth tax. Inheritance and gifting of property are sheltered too, with gifts under €80,760 or to close family members shielded from tax. The position on inheritance, with numerous exemptions and a sliding scale of marginal taxation is complex and you should seek expert advice. And again, it's not quite as rosy as it sounds. Though Berlusconi's government conceived the plan as a way of attracting capital back into Italy, your real estate owned in Italy is regarded as being subject to the tax laws of your home country. Again, this is a juncture for consulting the commercialista or your home tax advisor.
Moving to Italy and taxation
The very phrase ‘double taxation' may send a shiver through your bones. Countries such as the UK and US have double taxation treaties with Italy, to avoid the unfairness of your getting taxed in two countries on the same assets.
UK residents should tell the Inspector of Taxes; they will send you a form P85 to fill in. They will require proof that you are leaving UK jurisdiction before they remove your UK tax liabilities - evidence of having both sold a UK house and bought or rented Italian real estate should do it. If you are planning to work in Italy, then the P45 from your last employer in the UK, plus a proof of employment from an Italian employer should be sufficient to convince them you are no longer their concern.
It's different for Americans. The IRS expects you to keep filing tax returns (and paying taxes) each year, unless you elect to become a permanent resident of Italy. America, like Britain, has a double taxation arrangement with Italy.
Other taxes issues in Italy
We've banged on at length about consulting a commercialista or tax advisor at home. It's vital to get your tax and other financial affairs in order before you move. If nothing else it will force you to take a good look at your finances. You may find that going offshore with your bank accounts or mortgages yields huge benefits, and moving to a foreign country and assuming expat status could be the perfect time to do this. Planning is all. A good audit of your affairs, with a competent professional who can advise you how to best shield your assets from the taxman, could save you thousands of euros and lots of sleepless nights.
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Tuscany Italy Home Inspector
It is a dream to own a house. It is also one dream that comes with a lot of costs. There will be insurance bills, moving expenses, closing costs, furniture purchases, and so on. There will be incidental costs, owner’s title insurance, additional coverage beyond the minimum hazard insurance, etc.
But perhaps one of the most indispensable home owner’s costs you have is hiring a Tuscany Italy home inspector to examine your dream house. Sure, it is also one of those home buying costs that you can avoid, but probably should not. Because depending on where and what you are buying, pest, radon, mold, or lead paint inspections may or may not be critical.
The First Tuscany Italy Home Inspectors
Tuscany Italy home inspection is a relatively new trend. Back in the day buyers who are insecure about what they are about to purchase would ask a tradesman friend or someone else who was handy to take a look at a potential purchase and see if it was worth the price the seller was quoting. After getting the green signal, they mostly just crossed their fingers, hoped for the best, and plunged ahead. For most people, this haphazard method worked out just fine. But for some, something always went horribly wrong in just a few weeks.
The roofs, cills, garage doors, appliances, electrical, heating, and plumbing systems could turn out to be hazads that a buyer could only wait out or pray for. A home owner could remove the wallpapers and find that the plaster came off right along with it. The furnace could be just taking up space in January and find that it is still just taking up space in April. Things could not be working as they should be. And what did this all mean to the buyer? That’s right – more costs.
Then, approximately 30 years ago, the first Tuscany Italy home inspectors emerged. At first, hiring Tuscany Italy home inspectors were no more than a convenience that only the richest home buyers can afford. The first Tuscany Italy home inspectors were really just retired building inspectors, trades persons, or contractors looking to supplement seasonal work. There were no standards, no rules, no organizations, and only very few regulations. Then, later on, real estate agents, brokers, and sellers began to sense that one way to convince shaky buyers that their purchases are worth it is to get a Tuscany Italy home inspector to give them the assurance they need. Tuscany Italy home inspectors especially became handy when it came to old homes.
Why Hire a Tuscany Italy Home Inspector?
There are two reasons why you should hire a Tuscany Italy home inspector. The first is rather obvious. As a potential home buyer, your prime concern here is to know the current condition of the house you are planning to buy. You want to know if there are any bombs that are ticking away and ready to blow your budget right out of the water. A Tuscany Italy home inspector is the right person to turn to.
Another reason is that a good Tuscany Italy home inspector will teach you about your house. The Tuscany Italy home inspector will tell what the systems are, how they work, and how to keep them working.
There is a lot of free information available to you about buying, selling or investing in Tuscany Italy real estate. For complete information about the Tuscany Italy real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Tuscany Italy real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer your queries. Call me on my cell at +39 346 7292506 or email me at info@reportal.it.
Tips For Financing Investment Real Estate in Tuscany Italy.
Get the best loan for your investment property in Tuscany Italy. It doesn't matter if your getting a loan for a rental property or another type of property in Tuscany Italy that you are going to keep or one you fix up and flip for a profit. This special report series will uncover the place to start on your journey for investment financing.
SPECIAL REPORT FOLLOWS:
Paolo Tomasini Discusses
How to Finance Your Investment Property in Tuscany Italy.
Finding nice real estate investment opportunities in Tuscany Italy can be a lot of fun. One of the perks of buying property is thinking about how the property will appreciate over the years But before you start seriously looking for properties you need to have your financing plan lined up.
If you are planning on financing a rental in Tuscany Italy It is best to start by contacting a mortgage broker that works with many different lenders so you have a lot of options.
You should find a mortgage broker or a bank in Tuscany Italy that is a specialist in getting money for investment properties.
You can ask for a referral if you are working with a real estate agent. You can also check out some of the investment clubs in Tuscany Italy which will be filled with professionals who can lend a hand in your search for the right financing.
For complete details on everything Tuscany - Italy Prestigious, Luxury and Commercial Real Estate visit our website at: http://www.reportal.busyagentpro.com
Four Factors That Affect Your Offer Price in Tuscany Italy.
When you've found a home in Tuscany Italy you like, one you could see yourself living in for the foreseeable future, the next step is to make an offer on the home. You might be tempted to offer a price lower than the seller's asking price, simply because you've heard that you're supposed to negotiate the price. However, there's more to an offer price than lowballing the asking price. The price that you offer on the home will be influenced by several factors.
Property Condition
After viewing the home, you should have an idea of how it compares to other homes in the Tuscany Italyarea and the neighborhood. You don't have to do much analysis, just determine if it's above, average, or below the other homes in the market. Find out the recent selling price of homes in the neighborhood. If you rated the property you are considering as average, your offer price should be along the same lines as those that have already been sold. As you consider the condition of the home, look at things like bedroom doors and door knobs, fixtures, light switches, and cabinets. These will give a good indication as to the condition of the home and the offer price.
Market Conditions
In a seller's market, there are often multiple offers on a property, many of which will be above the asking price. In a buyer's market, homes remain on the market for a longer period of time. You have more flexibility to negotiate in a buyer's market. Still, there is the steady market when there are no rules. Depending on the condition of the market, you may increase or decrease your offer price. This is why you need to contact me no one on the web has as an extensive and comprehensive understanding of the Tuscany Italy real estate market.
Home Improvements
Minor cosmetic changes like new paint and carpet don't have a major factor on the home price. On the other hand, if the owner has made significant changes such as the addition of a new bedroom or bathroom, finishing the basement, or screening in a patio, the offer price should increase beyond the average home. You don't have to increase the offer price dollar for dollar on the cost of these additions. Rarely does $10,000 in home improvements add $10,000 to the value or offer price of a home.
Seller Motivation
A motivated seller won't allow you to knock down your offer price by a very large amount of money. That doesn't mean, though, that you won't be able to offer a few thousand dollars below the asking price. Sellers that are relocating are often motivated to sell their homes for less, especially if their new mortgage will be starting soon. Be careful of ads that use phrases that indicate they are motivated to sell, often these are tactics used to generate leads.
Consider each of these four factors as you determine the price you want to offer for the home. Get help on this part of the process, as you consider each of these factors to come up with an offer price, keep in mind any mortgage pre-approval amount that you have been given by the lender.
There is a lot of free information available to you about buying, selling or investing in Tuscany Italy real estate.
For complete details on everything Tuscany - Italy Prestigious, Luxury and Commercial Real Estate visit our website at: http://www.reportal.busyagentpro.com
How to Finance Your Investment Property in Tuscany Italy.
Get the best loan for your investment property in Tuscany Italy. Whether you are looking for financing for a rental property in Tuscany Italy that you are planning to hold or a fixer property that you want to sell for quick cash. This special report will uncover the place to start on your journey for investment financing.
SPECIAL REPORT:
Paolo Tomasini Discusses
How to Finance Your Investment Property in Tuscany Italy.
Looking for investment properties in Tuscany Italy can be a lot of fun. It is a pleasure to go into a property just dreaming of the profits that the house could bring you in the future. But before you start seriously looking for properties you need to have your financing plan lined up.
If you are planning on financing a rental in Tuscany Italy for the long term it is best to start by contacting a mortgage broker that works with many different lenders.
You will want to find a mortgage broker in Tuscany Italy that specializes in getting loans for investors.
If you are working with a real estate agent you can ask them for a referral. You can also look for investment clubs in Tuscany Italy that will be filled with professionals that can help you find the financing that you require.
You can search for a real estate club in the Tuscany Italy area by going to www.creonline.com on the left look under resources and find the link for real estate clubs.
If you have excellent credit you will have the least amount of hurdles to jump through. When mortgage companies in Tuscany Italy are looking at your credit they are generally referring to your FICO score. This is a compilation of the three major credit bureaus and is the standard for determining credit worthiness in the industry.
When looking at your credit score you will have access to the best loans and more negotiating room with a FICO score above 680.
There are now many different loan solutions available to the investor in Tuscany Italy. You can even find loans that will cover 100% of the purchase price.
If your credit is not excellent there are still options available. You may be able to negotiate the seller carrying a second mortgage on the property in Tuscany Italy.
In this case let’s say you negotiate a price both you and the seller are happy with. You agree to get a loan for 80% of the purchase price and the seller agrees to take payments for the remaining 20%.
It is easier to get a loan for 80% of the purchase price. This is especially true if you have negotiated a price below market value. Maybe you negotiated a sale price of $100.000 while the real market value is actually $120,000.
With this example the lender that supplies the loan only has $80,000 at risk on a $120,000 property. So their risk is much less.
Interview multiple brokers instead of just using the first one you talk to. It is like picking any other professional. You want to shop around the Tuscany Italy area a little to make sure you can get the best solution for your financing needs.
Now in regard to getting loans for fixer properties it is much more difficult to get traditional financing for these properties.
With fixers you can start by contacting a mortgage broker that does traditional financing, but what is normally your best bet is looking for a hard money lender or a mortgage broker that works with hard money lenders.
You can check your local newspaper for the Tuscany Italy area, under financing or mortgages and will usually find a few ads for hard money lenders or investment property financiers in your area.
While traditional loans will only look at the current value of the property, hard money lenders will look at the after repaired value of the property and loan out anywhere from 50-80% of the after repaired value before the property is repaired.
It may be a mortgage broker in Tuscany Italy that has contacts with these investors, in some cases it is simply another investor that has money to invest and simply makes a good return on their investment.
Hard money loans are expensive compared to traditional financing. Generally interest rates are between 12-16% and you may need to pay 3 to 5 points up front.
The benefit comes in the fact that in many cases you can get repair money above and beyond the actual purchase price of the property which is generally unheard of in traditional financing.
You simply look at the costs of hard money loans as a cost of doing business and make sure you include them in your purchase and holding costs so that you end up with the profits you are looking for on the property after all is said and done.
Getting your first loan in Tuscany Italy as an investor can be the most work, but once you establish yourself as a successful investor things become easier.
There is a lot of free information available to you about buying, selling or investing in Tuscany Italy real estate. For complete information about the Tuscany Italy real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Tuscany Italy real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer your questions. Call me on my cell at +39 346 7292506 or email me at info@reportal.it.
For complete details on everything Tuscany - Italy Prestigious, Luxury and Commercial Real Estate visit our website at: http://www.reportal.busyagentpro.com
Dealing with an Agent during the Home Buying Process in Tuscany Italy?
If you are buying a home in Tuscany Italy there is a good chance that you will be dealing with a real estate agent who has been hired by the seller. While this may seem like a good thing, there are many cases where real estate agents have been tough to deal with. The good thing is that if you know what you are doing as a buyer you should not have any problems dealing with the real estate agent, and any extra baggage that they may carry. Just remember, a bad real estate agent is not a reason to stay away from a home that you really like. You will only have to deal with him or her for a short period of time, so if you do not like their attitude try to grin and bear it!
The first thing that you need to remember is that a real estate agent is hired by the seller to get them the best possible deal on their home. For this reason, they are going to be doing everything they can to sell you a Fiesole - Firenze home, and if they are lucky sell it to you at list price. To take this a bit further, real estate agents only get paid when they sell homes. They get a commission or percentage of the selling price. So again, the more money that they sell a home for the more money they are going to make as an agent. Just like any other type of sales person, a real estate agent has their financial needs at the top of their to do list.
If you are having a tough time dealing with a real estate agent, make sure that you express this to them. Tell the real estate agent that you really like the home you are interested, but that they are making things difficult on you. This may help them to open their eyes and see that they are not giving themselves the best chance to succeed. In other words, try to keep the lines of communication open if at all possible. This will give you a much better chance of working with them on a business level that does not put you off.
All in all, dealing with real estate agents is not always the easiest thing to do when buying a home. They have their own agenda, and you have yours at the same time. But at R.E.Portal by Paolo Tomasini - Luxury and Commercial Real Estate Intermediations in Italy we take care of that for you when lookign for a house in Tuscany Italy come to me and i promise to make sure your buying experience is a pleasant one. The key to success is acting professionally, and doing whatever it takes to get past the differences that may be putting you off.
There is a lot of free information available to you about buying, selling or investing in Tuscany Italy real estate. For complete information about the Tuscany Italy real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything www.reportal.it" mce_href="www.reportal.it">Tuscany Italy real estate.
For complete details on everything Tuscany - Italy Prestigious, Luxury and Commercial Real Estate visit our website at: http://www.reportal.busyagentpro.com
Making Sure your Tuscany Italy Home Inspector is Doing his Job to the Fullest
Dig Through the Trash
In a typical home inspection, septic systems are not usually included. However, you should note that the system is a major cost component of a home and should therefore be inspected prior to purchase. These inspections are made not just to ensure that you are making a good purchase on your home, but for the protection of the environment.
All Them Bugs
Getting a termite inspection is essential if you are buying a single or multi-family home, a townhouse, or a lower level garden style apartment. The eastern subterranean termite can do major damage to the structure of a home and can go undetected for years. When you do hire a Tuscany Italy home inspector to check your home, be sure that you also make him do pest inspections. Many Tuscany Italy home inspectors offer these as well in addition to the standard home inspection.
There is a lot of free information available to you about buying, selling or investing in Tuscany Italy real estate. For complete information about the Tuscany Italy real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Tuscany Italy real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer your queries. Call me on my cell at +39 346 7292506 or email me at info@reportal.it.
For complete details on everything Tuscany - Italy Prestigious, Luxury and Commercial Real Estate visit our website at: http://www.reportal.busyagentpro.com
How to Buy Your First Home in Tuscany Italy... the Easy Way! Avoid the 10 Most Common, Painful, Frustrating Mistakes First-Time Home-Buyers in Tuscany
For most of us, the first time home purchase is the largest investment we’ve ever considered. The emotions of purchasing something so expensive and personal can often cloud our business judgment.
Most home purchasers looking ot buy a home in Tuscany Italy, do little or no research before they invest their nest egg. Doesn’t it make sense to become as completely informed as possible before you buy your first home? This special report is designed to help you avoid 10 common and crucial mistakes.
The right real estate professional can help you make good, sound business decisions based on your personal situation.
1.Inspect, Inspect and Inspect- Go over the inspection report with a fine tooth comb. Make sure the report was done by a professional organization.
For condo purchases in Tuscany Italy, go over the, by-laws, and Association Fees. Don’t take anything for granted... inspect everything!
2.Imagine the Property Vacant- Your furnishings and decorations will be the ones filling this new residence. Don’t be swayed by beautiful furniture; it leaves with the owner.
3.Income + Lifestyle = Mortgage Payment- Sit down with your professional real estate agent and honestly discuss your income level and living expenses. Take into account future considerations, children, add-ons, amenities, and fix-ups. Your dream home is certainly worth a sacrifice, but don’t mortgage your entire future.
4.View Several Homes- See at least 7-10 properties. Don’t move too slowly, but don’t move on the first property you see. With your agent’s help, you should be able to view enough properties to get a good overall perspective of the home market. When you find the right property, all the leg work will be worth it.
5.Utilize Your Team- By aligning yourself with the right real estate professional, you will have an entire team at your disposal. Utilize your lender, title rep and agent. Each of them should work hand in hand for your benefit. Explore all the options before you sign.
6.Be Columbo- Check out all costs and expenses before you sign- utilities, taxes, insurance, maintenance and home owner dues if applicable. Make sure all utilities (gas, electricity, and water) are on during your walk-through so you can inspect everything in working order. Ask lots of questions and be very detail conscious.
7.Do a Final Walk-Through- Visit the property in Tuscany Italy after all furnishings have been moved out to be sure there are no surprises. Be absolutely positive the property was left exactly as you had agreed upon in the contract. Things that could have been spotted in a final walk-through are often unintentionally overlooked.
8.Plan For Flexibility- Closing dates are not written in stone. Allow for contingencies and have a back-up plan. If you or the sellers need a little more time to conclude the final arrangements, don’t let these delays upset or frustrate you. These types of circumstances are not uncommon in a Tuscany Italy real estate transaction.
9.If It’s Not In Writing, It Doesn’t Exist- All promises and discussions should be in writing. Don’t make any assumptions or believe any assurances. Even the best intentions can be misinterpreted. Have your professional keep an ongoing log in writing of all discussions and get the seller’s written approval on all agreements.
10.Loyalty Breeds Loyalty- Be open, honest and up front with your team. Hard feelings and disloyalty will cause head aches and delays or may even keep you from getting into the home you worked so hard to locate. Take the time to select the right team in the beginning, and your first home purchase will be a pleasing and memorable experience.
There is a lot of free information available to you about buying, selling or investing in Tuscany Italy real estate. For complete information about the Tuscany Italy real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Tuscany Italy real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer your questions. Call me on my cell at +39 346 7292506 or email me at info@reportal.it.
For complete details on everything Tuscany - Italy Prestigious, Luxury and Commercial Real Estate visit our website at: http://www.reportal.busyagentpro.com
Preparing to Buy A Home in Italy
There's more to buying a home than you might first think. On purchasing a real estate, surely a major part of the process is finding a home in Italy that meets your needs and offering a price on it. It is important to prepare for the purchase prior to taking any of these steps.
if you have bought a home before, you still don't know as much about buying a home as you think you do. Even if you have previously purchased a home, your knowledge could use a little brushing up. Being prepared for buying a home is the best thing you can do to ensure a smooth real estate transaction.
You don't have to spend weeks or months learning the process of buying a home in Italy. You won't have to buy manuals or books or go to expensive seminars. Much of what you need to learn about buying a home you can learn from the comfort of your own home using the Internet. The most important thing is that you do some work to become familiar with buying a home before you attempt to complete a transaction.
Before you even think about contacting a real estate agent, you need to first define your reason for buying a home. It's easy to come up with the cliché reasons for buying a home, but the "American Dream" simply isn't reason enough to spend the money you are about to spend on a home. You'll have much better luck finding a place that you love if you really look at why you are buying a home.
Take a hard look at your finances. You should not neglect this one part of the preparation. Because buying a home is such a large financial undertaking, it is imperative that you understand what your budget looks like. you need to make sure that you can afford your monthly payment on your mortgage. Before that you need to qualify for a mortgage. It's very important to always have some extra money on hand when you have bought a new home.
Become educated on the entire mortgage process. There are many different kinds of mortgages available. Look into where they are from and you will know where you can get them. A mortgage that meets your needs is just as important as the house that you are using it for. If you would a great online resource for all of your real estate questions including information on mortgages Free Real Estate Advice .com is a fantastic asset.
to pay for a mortgage, you should first know how much you can afford. One can determine how much he or she can pay for a mortgage by examining their monthly expenditures and using the amount left over.
Develop a list of needs and wants for your home in Italy. Before we come to a decision it is better to recognize that the two are not one and the same. You have ensure that something whatever you require to need. It is important to you to have it. A want is something you desire in your home. Making this distinction is essential in the final home you purchase and the amount of money you spend on it.
What buying a home is like for you depends largely on how well you have done your homework. you need to take the necessary steps to make sure that I, Paolo Tomasini, can help you find the perfect home for your needs and wants.
You can find a lot of free information for real estate deals. Whether its buying, selling or investing, the help is available to you.
Italy real estate. For complete information about the Italy you can see the current real estate market including the current homes for sale, the property values in certain areas, and more. Please visit our website for the most complete information dedicated to everything Italy One important thing in the real estate market, and buying a home, don't be talked into something you can not afford. I would be happy to answer any questions you may have about buying a home. You can call my cell phone at +39 346 7292506 or email me at info@reportal.it.
For complete details on everything Italy Prestigious, Luxury and Commercial Real Estate visit our website at: http://www.reportal.busyagentpro.com
Tips for Crafting the Best Purchase Offer for Tuscany Italy Property, by Tuscany Italy Real Estate Expert Paolo Tomasini
The purchase offer is a binding legal document that covers all the details of the sale. It includes the sale price, contingencies, financing details, closing costs, repairs needed, closing date and a lot more.
The selling price is obviously the most important factor in a purchase offer. However, the clauses you include in your purchase offer are also vitally important. The clauses or contingencies in the contract are what protect you from making a purchase before you have all the information you need.
Some of the more important clauses to include in your contract are:
1) The Inspection Clause
On any property you put an offer on, this is an absolute must. This clause states that as the buyer, you have the right to inspect the property. The offer is contingent on your approval of the results of the inspection.
2) The Financing Clause
If you didnít have the financing clause and you backed out of the contract because you didnít qualify for your loan, you would lose your deposit. The financing clause basically says that the contract is contingent on you getting the loan youíre applying for.
3) Contract Assignment Clause
For real estate investors, this is an important clause. This gives you the right to ìflipî the deal to other investors or get other people involved if necessary. Basically, this clause removes you from being the only person who can close the deal.
These are some of the most common and most important clauses in a real estate purchase contract. Although the legal language in the contract can be intimidating, just realize that all the document is meant to do is protect the buyer, seller and their agents by covering every possible point before the purchase.
There is a lot of free information available to you about buying, selling or investing in Tuscany Italy real estate. For complete information about the Tuscany Italy real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Tuscany Italy real estate at www.reportal.it. So please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at +39 346 7292506 or email me at info@reportal.it.
For complete details on everything Tuscany - Italy Prestigious, Luxury and Commercial Real Estate visit our website at: http://www.reportal.busyagentpro.com
Tuesday, April 28, 2009
Astonishing Villa - Como Lake
Would you like to have a private harbour for your boat, with direct entrance to your villa?
Do you like precious antiques ?
Also George Clooney falled in love for Como Lake.
And you?
Visit the website of this unique villa and do not lose time: the rare jewels quickly disappear from the market.