When purchasing property in Italy, it’s important to understand how real estate agency commissions (agenzie immobiliari) work. Many foreign buyers may not be aware that in Italy, commissions are not included in the property price and are paid separately. This differs from some other countries where the commission is already included in the sale price.
Regulation of Commission Fees
The commission fees of real estate agencies are regulated by Article 1755 of the Italian Civil Code. According to this article, an intermediary is entitled to a commission from both parties (buyer and seller) if the transaction occurred due to his actions. An intermediary is only entitled to a commission if they are registered in a special Registry of Intermediaries. This ensures the legality and professionalism of the agent, and only such agents can demand a commission.
Commission Amount
Typically, the commission is 3% + VAT from each party of the transaction price. In some cases, the commission can reach up to 8%, depending on the terms of the agreement and the region. The commission is paid at the time the purchase offer is accepted or when signing the preliminary sales agreement. This happens before the final sales contract is signed, at which point the property ownership is transferred.
Important Aspects
Buyers and sellers can include terms in the contracts stating that the payment of the commission depends on the successful completion of the transaction. This helps avoid situations where the commission is paid but the deal is not completed. Some agencies may charge additional fees for services such as additional viewings or calling in an appraiser. It’s important to clarify these points before signing a contract with an agency.
Conclusion
Understanding the commission fees of real estate agencies in Italy is a key aspect for anyone planning to purchase property. The commission is paid by both parties of the transaction and can vary depending on the terms of the contract. Dealing with licensed real estate agencies will help avoid potential problems and ensure a professional approach to the transaction.
Recommendations
Approach selection and support only from licensed real estate agencies to guarantee the safety and legality of the transaction.
