Good morning,
I am taking the opporunity to point out water wells are not so uncommon…..There are properties, even, with an inside well (the meaning of "use it or lose it" at its best!)
Take this property, for example, (https://www.italymagazine.com/property-for-sale-in-italy/106752-guest-house-two-properties-price-one)
Casa Antica has got a well located in the kitchen so it would be a spectacular feature once restored….The set up is ideal to create a B&B (Casa Antica will be the family house meanwhile Casa Aia will be the guest block) with a pool; an amazing opportunity to create a business in an area, the Golfo di Policastro, where nature has been kept wild and "unspoiled" being within two national parks ("Parco Nazionale del Pollino" e "Parco Nazionale del Cilento e Vallo di Diano").
Please find following a link to a short movie showing a "glimpse" of the area; https://www.youtube.com/watch?v=6wx8R4dc62E
Good morning,
Before going into the "share" analysis , there is one point extremely unclear in your story.
You said and I quote: "the house was 50/50 owned by my father in law and one of his siblings. However, he had already paid over half to his sister before he became ill and was in the process of transferring the property into my husband & my sister in law names and about to pay off his sister"
When he paid over half to his sster (I assume the sibling mentioned) did he wrote some sort of contract (a "scrittura privata", deeds or anything else) or did he do it on a simple "shake of hands" basis?
"Was in the process" what does it mean? Did he made a "proposta d'acquisto" (buying proposal) and a "compromesso" (Pre-contract Agreement) or they were just discussing the asking price? Did they wrote some sort of Agreement?
I am asking as, if there are papers, terms and condition have been already agreed (the 75% has been already set with a "scrittura privata") ; please note doing works will increase the value of the property but won't affect the "share" owned by each person...….
Good morning,
Unfortunately the numbers given do not match the reality.
For ENEL we are talking about 0.27-0.30 €/kWh meanwhile, for gas, we are talking about 0.80 €/mc (depending by the market) that's why the most common fuel for heating properties is wood as PV won't cover the consumption needed to warm up a house (a 100 sqm house requires 5 Thermal kW, i.e. 12 Electric kW, i.e. 300 kWh/day approximately depending by insulation, air tightness, PV efficiency, etc.)
Please note numbers given are not accurate because, as I previously mentioned, I haven't accounted insulation, air tightness, house orientation, etc.
As you will notice from my comment I haven't detailed the residence process nor the bank process.
Regarding opening a bank account, I have only specified the point "Fill in the necessary forms" regarding the Italian mortgage with the papers to be provided ("Perizia Tecnico Estimativa", etc.). I haven't said anything about "Non resident" or "Resident" bank account, Internet banking, fees, mortgages rates, etc.
Regarding residence, as you will notice, we have said exactly the same thing as I haven't specified anything about the process; I have only said the definition of non-resident Italian Citizen is not "clear" and more information will be asked as:
1) Italian Citizen are registered to Comune "Anagrafe" otherwise they are registered as "Italiani all'estero"/A.I.R.E.
2) Regarding non-Italian Citizen haven't specified anything about 18 months to move residence within the Comune territory (not mandatory to own property in the meanwhile, it can be rental!), EU no border Agreement, Third European Agreement, VISA (outside Schengen), EU "Tessera Sanitaria" (or health insurance, if non EU), IMU, TARI, TASI, etc.
Thanks again for being more specific and sharing info as I did in other threads.
Good morning,
In Italy there's a restriction on mortgages provided by banks.
They loan up to 80% of the building value; there are also products where it is included a sum for restoring the property (but there are restrictions too about the sum that will be given for restoration)
Please note the bank asks for a "Bill of Quantities" of the works and a "Perizia Tecnico Estimativa" ("Valuation Survey" and "Building and Structural Survey") to set building value. Please note the "Perizia Tecnico Estimativa" will include for cadastrial info, planning permission, floor plans, etc.
Unfortunately, the definition of non-resident Italian citizen it is not "clear"; if you own an Italian passport you should have an address somewhere (your family house, for example, or your rental property) otherwise you're registered with A.I.R.E (Agagrafe Italiani Residenti all' Estero). Please note I specified as bank will definitely ask for more details.
Unfortunately being generic doesn't help; each building in Italy has got its own story and it is Architect's and Structural Engineer's duty to verify what has been done and how it has been done to make feel the customer "safe".
The mandatory requirement is the "certificato di agibilità" (a certificate including the seismic compliance, the building services compliance D.M. 37/08, the EPC and the certificate of "salubrity" of the rooms).
It has to be provided each time there's a:
- New build
- Restoration or increase of the height
- Intervention on an existing building which will modify the safety, hygiene, salubrity and energy performance
If it doesn't comply with seismic regulations there will be cracks, showing the seismic vulnerability. Moreover it won't have the "collaudo statico" (a certificate stating the house complies with seismic regulations).
Please find the link to earthquake monitoring site http://cnt.rm.ingv.it/#
As you will notice, there are always minor earthquakes therefore how safe for your family and your investment will be when one will strike in the area? (Amatrice has been completelly erased from the map.....)
No insurance company will accept to cover the damages, if it doesn't comply. Moreover, it cannot be placed on the market again because, as mentioned before, it has got no "collaudo statico" (a certificate that states the house complies with seismic regulations) which is mandatory for properties built after 1967. So is it a "wise" investment?
All properties, residential and commercial, must comply to seismic regulation when there are modifications to the exisiting body of the property.
Unfortunately it is not possibile to determine in advance the amount of money required as the seismic renovation depends by the design therefore there are no fixed amounts of money to be set aside (it can be 20.000 or 60.000; it depends by the design, the condition of the existing structure, the size and the materials used!)
Comments posted
Good afternoon,
Please consider http://www.overseasmortgagebroker.co.uk/
Managing Director: Stephen J Brown
Good morning,
I am taking the opporunity to point out water wells are not so uncommon…..There are properties, even, with an inside well (the meaning of "use it or lose it" at its best!)
Take this property, for example, (https://www.italymagazine.com/property-for-sale-in-italy/106752-guest-house-two-properties-price-one)
Casa Antica has got a well located in the kitchen so it would be a spectacular feature once restored….The set up is ideal to create a B&B (Casa Antica will be the family house meanwhile Casa Aia will be the guest block) with a pool; an amazing opportunity to create a business in an area, the Golfo di Policastro, where nature has been kept wild and "unspoiled" being within two national parks ("Parco Nazionale del Pollino" e "Parco Nazionale del Cilento e Vallo di Diano").
Please find following a link to a short movie showing a "glimpse" of the area; https://www.youtube.com/watch?v=6wx8R4dc62E
Good morning,
Before going into the "share" analysis , there is one point extremely unclear in your story.
You said and I quote: "the house was 50/50 owned by my father in law and one of his siblings. However, he had already paid over half to his sister before he became ill and was in the process of transferring the property into my husband & my sister in law names and about to pay off his sister"
When he paid over half to his sster (I assume the sibling mentioned) did he wrote some sort of contract (a "scrittura privata", deeds or anything else) or did he do it on a simple "shake of hands" basis?
"Was in the process" what does it mean? Did he made a "proposta d'acquisto" (buying proposal) and a "compromesso" (Pre-contract Agreement) or they were just discussing the asking price? Did they wrote some sort of Agreement?
I am asking as, if there are papers, terms and condition have been already agreed (the 75% has been already set with a "scrittura privata") ; please note doing works will increase the value of the property but won't affect the "share" owned by each person...….
Good morning,
Unfortunately the numbers given do not match the reality.
For ENEL we are talking about 0.27-0.30 €/kWh meanwhile, for gas, we are talking about 0.80 €/mc (depending by the market) that's why the most common fuel for heating properties is wood as PV won't cover the consumption needed to warm up a house (a 100 sqm house requires 5 Thermal kW, i.e. 12 Electric kW, i.e. 300 kWh/day approximately depending by insulation, air tightness, PV efficiency, etc.)
Please note numbers given are not accurate because, as I previously mentioned, I haven't accounted insulation, air tightness, house orientation, etc.
Dear Ugo,
Thanks for being specific.
As you will notice from my comment I haven't detailed the residence process nor the bank process.
Regarding opening a bank account, I have only specified the point "Fill in the necessary forms" regarding the Italian mortgage with the papers to be provided ("Perizia Tecnico Estimativa", etc.). I haven't said anything about "Non resident" or "Resident" bank account, Internet banking, fees, mortgages rates, etc.
Regarding residence, as you will notice, we have said exactly the same thing as I haven't specified anything about the process; I have only said the definition of non-resident Italian Citizen is not "clear" and more information will be asked as:
1) Italian Citizen are registered to Comune "Anagrafe" otherwise they are registered as "Italiani all'estero"/A.I.R.E.
2) Regarding non-Italian Citizen haven't specified anything about 18 months to move residence within the Comune territory (not mandatory to own property in the meanwhile, it can be rental!), EU no border Agreement, Third European Agreement, VISA (outside Schengen), EU "Tessera Sanitaria" (or health insurance, if non EU), IMU, TARI, TASI, etc.
Thanks again for being more specific and sharing info as I did in other threads.
Good morning,
In Italy there's a restriction on mortgages provided by banks.
They loan up to 80% of the building value; there are also products where it is included a sum for restoring the property (but there are restrictions too about the sum that will be given for restoration)
Please note the bank asks for a "Bill of Quantities" of the works and a "Perizia Tecnico Estimativa" ("Valuation Survey" and "Building and Structural Survey") to set building value. Please note the "Perizia Tecnico Estimativa" will include for cadastrial info, planning permission, floor plans, etc.
Unfortunately, the definition of non-resident Italian citizen it is not "clear"; if you own an Italian passport you should have an address somewhere (your family house, for example, or your rental property) otherwise you're registered with A.I.R.E (Agagrafe Italiani Residenti all' Estero). Please note I specified as bank will definitely ask for more details.
Good mornin,
Thanks for the comment.
Unfortunately being generic doesn't help; each building in Italy has got its own story and it is Architect's and Structural Engineer's duty to verify what has been done and how it has been done to make feel the customer "safe".
The mandatory requirement is the "certificato di agibilità" (a certificate including the seismic compliance, the building services compliance D.M. 37/08, the EPC and the certificate of "salubrity" of the rooms).
It has to be provided each time there's a:
- New build
- Restoration or increase of the height
- Intervention on an existing building which will modify the safety, hygiene, salubrity and energy performance
If it doesn't comply with seismic regulations there will be cracks, showing the seismic vulnerability. Moreover it won't have the "collaudo statico" (a certificate stating the house complies with seismic regulations).
Please find the link to earthquake monitoring site http://cnt.rm.ingv.it/#
As you will notice, there are always minor earthquakes therefore how safe for your family and your investment will be when one will strike in the area? (Amatrice has been completelly erased from the map.....)
No insurance company will accept to cover the damages, if it doesn't comply. Moreover, it cannot be placed on the market again because, as mentioned before, it has got no "collaudo statico" (a certificate that states the house complies with seismic regulations) which is mandatory for properties built after 1967. So is it a "wise" investment?
All properties, residential and commercial, must comply to seismic regulation when there are modifications to the exisiting body of the property.
Unfortunately it is not possibile to determine in advance the amount of money required as the seismic renovation depends by the design therefore there are no fixed amounts of money to be set aside (it can be 20.000 or 60.000; it depends by the design, the condition of the existing structure, the size and the materials used!)