Frequently Asked Questions
Am I Ready to Be a Homeowner?
WHAT HAPPENS WHEN I WALK IN TO AN AGENCY, CALL, EMAIL, TEXT, WHATSAPP OR SKYPE AN AGENCY ABOUT A LISTING I SAW? This is a top pitfall in Italian Real estate. As soon as you contact an agent/agency about a property they consider you a client. Without anything in writing, they enter your number and any info they can glean into their database. This creates an unwanted and difficult buyer agency situation with far reaching implications down the line!
Is Renting or Buying Better?
HOW DO I GET RELIABLE INFORMATION ABOUT LOCATION, AMENITIES, CONFORMITY, ETC? Contact Us. We specialize in digging up the locations and important information so you can make better decisions. We don’t assume agency relations without written notice and a buyer or seller agency agreement. This helps us access properties (both on and off market) on your behalf and cuts down on territorial and agency disputes later due to the lack of exclusivity and MLS.
What Is the Lender's Formula?
ARE THERE TAX INCENTIVES IN BUYING AN AGRITURISMO OR FARM? CAN I CONVERT THE USE DESIGNATION OF A PROPERTY? Absolutely! but understanding what your long term goals and needs are should be factored in to decisions. We have helped clients find and convert properties to realize tax incentives and considerable savings on real estate fees.
What Do I Look for in Homes?
DO YOU SCOUT FOR PROPERTIES OUTSIDE OF TUSCANY? We include Umbria, Puglia and Marche in our normal coverage area but have gone as far afoot as Piemonte, Lago di Como and Venice working for clients. We offer a refundable fee-based scouting service for these further areas.
We also offer an Italian Real Estate 101 Day Tour where we give you an overview of the areas of interest, point out things to watch out for, visit a winery for a tasting and discuss the day over a sumptuous lunch.
WHO PAYS COMMSSSION?
HOW ARE PROPERTY PRICES DETRMINED? Often, a listing price is created by the agency based on a valuation. However, just as often, other personal factors intercede. Because there is no MLS, Zillow, or Realtor.com getting comparable pricing is difficult, even for agents. It comes down to average square meter prices, and subjective decisions about the values of location, condition, amenities and market trends. Knowing the value as a buyer with varying exit strategies is important. We specialize in giving you usable information based on reality and not emotion.
What Should I Expect at Closing?
WHY DO I SEE THE SAME PROPERTY LISTED WITH MULTIPLE AGENCIES? (AND WHY IS THE LISTING DATA DIFFERENT?) Listings in Italy are often non-exclusive; meaning multiple agencies and the seller, his neighbor, and distant relatives are trying to sell the property without consistent information (no Multiple List System, ZILLOW or Realtor.com.) Often agencies will not publish the address, or give a false address and location to try and keep buyer’s from approaching the seller or doing a drive-by. This feeds into the problem of creating unwanted agency relationships. You call to ask where the property is located in relation to a school (or a landfill) or to inquire how many bedrooms and bathrooms the property has and they add you to their database.
What Is Pre-approval?
SHOULD I BUY A PROPERTY IN A COMPANY NAME OR A PERSONAL NAME? Everyone’s tax situation is different but there are advantages to buying a property in a company name. Some properties are owned in a company name which has benefits to a potential buyer. Sometimes property ownership is cloudy and needs to be defined before putting down a deposit.
Am I Ready to Rent?
DO YOU HAVE TRUSTED SERVICE PROVIDERS FOR PROFESSIONAL SERVICES? Yes! We work closely with a variety of honest, professional service providers and are always on the lookout for more. From Geometra, Architects, landscape designers, to pool builders, building construction, Notaio, accountants, residency and citizenship attorneys, car buying services, insurance, and cleaning. When we say full service. we mean FULL SERVICE.
What Should I Offer?
ARE THERE MANY “POCKET LISTINGS” IN ITALY? Yes! Not only are there pocket listings not advertised, but there are many properties which are for sale but not listed. These often happen when the family does not want anyone local to know they are considering selling, when the house was listed at a ridiculously high price for years and did not sell, or when they aren’t quite ready to actively market a property. We are in contact with many sellers like this because we work primarily with “foreigner buyers.” Another advantage to working with Tuscan Casa.
Can I Ask You for Advice?
WHO PAYS COMMISSION? In Italy is is customary for the buyer to pay their buyer’s agency commission. It should be in writing and part of your agency contract BEFORE you look at a property or put in any form of offer. Fees vary and there is rarely a variable commission structure (in writing) where the listing agency reduces commission for buyer and/or seller if they agency has both “sides” of the deal. Agency fees vary on a variety of criteria and range from from 2.0% to 6%. ASK FIRST. GET IT IN WRITING!