PaoloBullettiEstate Projects

Property Professionals Surveying

buying, renovate or selling your property in Italy

Paolo Bulletti

10 things to know before

10 things to know before buying, renovate or selling your property in Italy

Buying or selling a home in Italy or to proceed to a renovation can be an activity that engages time and energy especially if performed abroad. Regarding technical aspects, problems of language, mentality and bureaucracy (particularly complex in Italy) become very important, and this is why it is always advisable, to contact an architect or surveyor to do things well and on short time. But for those who do not want to leave that all to a professional and wish to be a part of the procedures, I prepared a list of 10 things to do before you buy, sell or renovate a property in order to save time and avoid late surprises, often when things are made and there are already bills to be paid.

- 2010 Paolo Bulletti - www.estateprojects.com

10 things to know before buying, renovate or selling your property in Italy

Before buying
1 - Initial verifications
1.1 Tests on the building. Control checklist: - Roof: can be very expensive to make it new. Is there thermal insulation? - Faades: in a condominium it can be obligatory to renew them. When were they made? Or when it is expected? Are there crackings? - Frames: they greatly affect thermal and acoustic insulation of the building. Do they work properly? Double glazing may be necessary? - Mechanical systems: detect possible anomalies - Humidity: difficult to remove. Check the walls facing North and East - Condo charges - Renovation works already approved by the condominium
- 2011 Paolo Bulletti - www.estateprojects.com

10 things to know before buying, renovate or selling your property in Italy In country houses - Access road: foreseeing the conditions in the event of heavy rains, are there water drainage units? - Electricity and phone: if dont exist is good to know that it will take months to get them and you will have to pay the set up of the line on poles or buried. - Drinkable water: make sure that it comes from the public aqueduct. That of the wells is not safe either from the point of view of hygiene, nor for the quantity. - Septic tank: does it exist? Is it made according to the rules of law? Otherwise it will necessarily be replaced. 1.2 Verifications on the saleability Not always a building is saleable when they propose it to us. To be possible it must have a regular liveability license and be proofed the cadastral and urban planning conformity, certified by an architect or surveyor, contained in the Relazione Tecnica di compravendita a
- 2011 Paolo Bulletti - www.estateprojects.com

10 things to know before buying, renovate or selling your property in Italy technical report necessary for the sale (see paragraph 9). The advice is to never take for granted that those who sell the property can really do it. Just a small modification compared to the original design, created without the regular permits, can block the sale. 1.3 Expenses exceeding the cost of the property I always suggest you better have a quote of all the expenses that you should support before you even start looking for a home. I have had clients, often youngs, who after buying the apartment did not have any more money to restore it. In the figure you have available it should be considered, besides the purchasing price, expenses for: - The commission for the Real estate agency - The taxes that you pay the Notary - The fee of the Notary - The Technical Report of Sale (see p.9) and the Energy Certification (see p.10) - The move - New furnishings
- 2011 Paolo Bulletti - www.estateprojects.com

10 things to know before buying, renovate or selling your property in Italy

2 - Examine the Zoning Planning

To know in advance what will happen in future years, ahead, behind and around the property we want to buy my advice is to review the Piano Strutturale Comunale the Municipal town plan (it shows what can be built and where) and the Piano Paesaggistico Regionale the Landscape plan of the Tuscany region (it indicates the constraints and restrictions for the preservation of the territory).

3 - Examine Constraints and Limitations

To examine Regolamento Urbanistico Comunale the town planning rules to find out if the property you want to buy is subject to constraints. There are areas and buildings in which you can do everything, you can do something or cannot do anything. The main constraints to the realization of your ideas may be: Vincolo archeologico - Archaeological constraint. Vincolo paesaggistico-ambientale - Landscape/environmental constraint.
- 2011 Paolo Bulletti - www.estateprojects.com

10 things to know before buying, renovate or selling your property in Italy Vincolo idrogeologico - Hydrogeological constraint. Aree a rischio idraulico e di frana - Areas with potential hydraulic and landslide risk. Aree boschive - Woodland areas.

Before renovating
4 - Characteristics of building works
Check with the Regolamento Edilizio the municipal building regulations if you can do what you have in mind, by which procedure and what times. One of my American customers was very ill when he discovered that in the house bought in the Sienas countryside he could not demolish a wall to create floor-to-ceiling windows like in California. The Regolamento Edilizio is the set of rules governing the building activities within a municipality, in relation to what establish in the Zoning plan.
- 2011 Paolo Bulletti - www.estateprojects.com

10 things to know before buying, renovate or selling your property in Italy

5 - Facilities if you are resident in Italy

5.1 Tax deduction The Government grants fiscal deductions, that must be requested before the beginning of the works, for the amount of: - 36% for maintenance, renovation and restoration of the building (see our text here on the AngloInfo at http://tuscany.angloinfo.com/countries/italy/buildingtax.asp) - 20% for the purchasing of furniture, computers, televisions and household appliances high energy-efficient if the house is under renovation - 55% for works improving the energy efficiency of the building, including roof and window frames, and replacement of heating systems. It is important to remember that VAT on renovation work is 10%.

- 2011 Paolo Bulletti - www.estateprojects.com

10 things to know before buying, renovate or selling your property in Italy 5.2 Extension of residential buildings The Government has arranged a law of limited duration, called the Piano Casa House Plan that allows increases in volume. Extensions: interventions are allowed to extend up to the 20% detached and semidetached residential buildings not exceeding 350 square feet for a maximum of 70 square meters. Demolition and reconstruction: allowed the extension up to 35% of the area in cases of demolition and reconstruction of structures. Non residential buildings: excluded.

6 - Consider all costs

Some of my clients thought that, in addition to my fee as an architect for the project, they were to pay only the construction works for the renovation of their property. Not so. In order to create a realistic budjet is good to know that in Italy you have to pay, as appropriate and to varying degrees:
- 2011 Paolo Bulletti - www.estateprojects.com

10 things to know before buying, renovate or selling your property in Italy Charges to the Municipality - Primary and Secondary Urbanization - Construction costs Other professional costs (in addition to architectural design) - Surbey of the building. Architect or surveyor - Structural design. Engineer - Plumbing, heating, electrical systems projects, required by law. Qualified technicians - Geological Survey. Geologist - Cadastre. Updating of DOCFA document after completion of the work. Surveyor

- 2011 Paolo Bulletti - www.estateprojects.com

10 things to know before buying, renovate or selling your property in Italy

Before Selling
7 To increase the value of the property and sell it more easily
All customers give more value to an object that they like to purchase when this looks good. By analogy, lets think about how cars are showed, even if used, when we go into a car showroom. Equally our apartment for sale will be enhanced if: - Environments will smell good, light on a perfumed candle - The walls will have been painted recently - The arrangement of furniture will suit well and there will be fresh flowers in a vase and oranges in pots - The natural and artificial light will highlight the features of spaces - The floors will be polished - Bathrooms and kitchen will give a sense of cleanliness - The garden, or the terrace, will be kept well maintained and the plants, the trees and the hedges will not give a feeling of abandonment
- 2011 Paolo Bulletti - www.estateprojects.com

10 things to know before buying, renovate or selling your property in Italy - Have some relaxing music playing at low volume during the clients visit An advice, make a list of strength and weak points of your property and invest in some renovation work to increase its commercial value.

8 - Have an appraisal
I suggest you to make an assessment of your property by an technician, architect or surveyor, and have a written appraisal report to compare with other estimates made by real estate agents in order to have a real market value. This can shorten the time of sale and to protect yourselves from loss of money. The buyer will appreciate your seriousness about ascerting the real value of the property.

- 2011 Paolo Bulletti - www.estateprojects.com

10 things to know before buying, renovate or selling your property in Italy

9 - The Relazione Tecnica di compravendita Technical Report of Sale

Through this document, prepared by an architect or surveyor, the seller guarantees the cadastral and urban planning conformity of the property and therefore its marketability. The technician asseses, under its direct responsibility, that the conditions of the site are consistent with what represented both in the Land Registry and Urban Planning deposited documents. Without these assessments, the Notary cannot do the deed of sale so it could be himself to ask for it to you or instruct a technician to do it. My suggestion is to have the Technical Report before putting your property on sale, it happened to a couple of my clients to discover that their property could be sold if the situation was not rectified.

- 2011 Paolo Bulletti - www.estateprojects.com

10 things to know before buying, renovate or selling your property in Italy

10 - Energy Certification
The Attestato di Certificazione Energetica (ACE), Energy Performance Certificate is a document prepared by a qualified technician that, under its responsibility, certify the energy performance of the building and attributes an energy class (A to G) according to the consumption of energy for heating it . A law establishes the obligation to attach the Certificate at the Property conveyance document and is a burden of the seller to provide it. Unless a different agreement, of course. The Notary may accept, in the only case of a building in class G, the lowest, a self-certification of the seller. I advise you then to ask the Energy Certificate to the same technician charged with drafting the Technical Report of Sale to optimize the costs and have all the documentation in order.

- 2011 Paolo Bulletti - www.estateprojects.com

10 things to know before buying, renovate or selling your property in Italy

PaoloBullettiEstate Projects
Property Professionals Surveying

Profile
Paolo Bulletti Estate Projects is a Florence (Italy) based consultancy firm with more than eight years experience in the central Italian property market, established to provide a point of reference for foreign investors. Paolo Bulletti, a licensed architect with an in-depth knowledge of real estate scenarios and local policies, practices & laws, decided to create a professional property consultancy aimed at providing quality services with integrity. He is a member of the RIBA Royal Institute of British Architects and professor at the University of Florence and at Texas A&M University.

Real Estate consultancy

e assist non-resident clients in purchasing, selling and refurbishing a property in Italy (mainly central Italy), providing consultancy to private individuals, estate agents and corporations in dealing with technical/law matters and national contracts, Cadaster, Land Registry and Municipalities providing all the necessary documentation and support. We advise law firms during Due Diligence procedures.

Private individuals
To find good deals can be difficult in the real estate field, especially for those who have to do so from abroad.
- 2011 Paolo Bulletti - www.estateprojects.com

10 things to know before buying, renovate or selling your property in Italy

PaoloBullettiEstate Projects
Surveying

Our goal is to avoid you wasting time looking at those properties that sound interesting on paper but do not really meet your requirements.

Estate Agencies
Thanks to dealing to other professionals, we are well informed,about properties on sale which are We guarantee the utmost discretion where required.

Property Professionals not currently on the market with Real Estate Agencies.

Corporate Clients
Investing in real estate is often part of the business of corporations. The route to effective real estate research is based on a deep understanding of the corporate clients requirement and on an excellent line of comunication with your company. We help you from initial property search stage to preservation of the real estate investment value, offering the following services: *Selection, evaluation, surveys, expertises *Feasibility studies meant to assess the value of the property: market research, planning, costs/ benefits analysis *General contracting: restoration, landscaping, interior decoration *Architectural and interior design

Real Estate business

e act as a Business Facilitator forming co-operative ventures among estate agents, commercial banks, investors, law firms, contractors and municipalities.

Our expertise as Property professionals includes

* Evaluation of investment opportunities. * Planning feasibility studies for the reconversion of residential and commercial developments.
- 2011 Paolo Bulletti - www.estateprojects.com

10 things to know before buying, renovate or selling your property in Italy

PaoloBullettiEstate Projects

* Sustainable Remediation studies to renovate and re-evaluate exhisting buildings. * Surveying for building estimates and appraisals. * Feasibility studies and space planning for future use projects. * Select the various offers on the market, contacting Real Estate Agencies and privates. Property * Collection and evaluation of technical documentation and information. Professionals * Interface between client and project development. * Coordination of projects in Italy. Visit building sites and reporting to the client on the ongoing Surveying advancement of building works. *Energy Performance Certificate (ACE). We provide assistance with the notary and coordinate legal and technical assistance with english speaking professionals (i.e. lawyers, geologist, engineers) and legal translation of documents.

Contact
Via Cinque Giornate 15, 50129 Firenze, Italy Tel .+39 055 474981, www.estateprojects.com info@estateprojects.com Skype: bullettip Paolo Bulletti mob. +39 335 660 2552 (Italy) +44 789 632 1611 (UK)

- 2011 Paolo Bulletti - www.estateprojects.com