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FAQ - Frequently Asked Questions
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1) How can I recognise a professional and reliable estate agent?
In Italy the estate agent is truly 'the middle man', acting for both parties. For this reason he is required to be
impartial and consequently receives a commission from both parties, both buyer and seller. This is regulated by the
Italian Civil Code, art. 1754.
They are obliged to be registered with the local Chamber of Commerce (ask your estate agent for the registration
roll number and them professional ID card).
This law finally considered the mediator as a person providing a professional service, who now acquired a major
and respectable role in Italian society. With the publication of the Ministerial Decree of February 12th 1994,
number 589/93, law 39 finally became definitive. Furthermore, through the educational efforts of the associations
for the professional advancement of their members and a sensitising towards the observation of a code of ethics,
the consumer public was offered even more guarantees on real estate matters.
The estate agent must therefore know the civil law regarding real estate, the relative fiscal dispositions,
the urbanization laws and regulations, valuations, understand the Cadaster and all those norms directly or indirectly
concerning real property.
The estate agent must keep up with the times and be continuously adjourned of new laws and regulations to fulfill
his role as a professional. The modem estate agent must be aware of current marketing methods for promoting the
properties entrusted to him and will find indispensable the use of computers and Internet.
2) Which are the estate agent's rights and duties?
The Civil Code requires the mediator to communicate to the parties all those circumstances of which they are aware
that relate to the valuation, to the certainty of the transaction or that which can influence its conclusion. However the
professional will not limit himself to those facts, but will make searches and investigations that will give a very clear
and thorough picture of the situation.
There are many facets to estate agents work, based on examination of all the documentation, certificates,
licenses, floor plans, mortgages and servitudes.
The estate agent is legally entitled to receive a commission from both parties, both seller and buyer, if they
finalize a contract.
The mediator is:
- still allowed to claim them commission if one of the parties default on the contract;
- not allowed to claim them commission if they do not have their registration number.
3) When should I pay the agency fees?
No sale, no fees! The right to the commission arises at the moment of the conclusion of the transaction,
from the proposal to buy, to the preliminary contract and to the final notary deed sale, it was important to determine
at which moment the agent effectively has a right to the commission. Several judicial decisions have finally stated that
the transaction is concluded at the moment of the signing of the offer to buy/preliminary contract, because at that moment
both buyer and seller acquire legal rights vis a vis one another. Therefore the estate agent may ask for his fees to be paid
at the signing of the preliminary contract and not necessarily wait for the signing of the notary deed.
However the serious professional will not consider his work terminated at the signing of the preliminary contract,
but will follow his clients right up to the notary deed, when the transfer of property actually takes place.
4) How much should I pay for the agency service?
The rate of commission varies according to the area and the price of the property and the specific terms agreed,
but is usually around 6%, although larger agencies can charge up to 10%. In most transactions, this is usually paid
in equal shares by the buyer and seller.
In holiday resorts, where agents keep their offices open all year round, but negotiate sales only during short
busy periods, the commission rates are generally a point or two higher.
In urban rentals of apartments and offices, one month's rent is paid to the agent by both parties for
their service. In holiday rentals, where a cost intensive service is given to clients, the estate agent's
commission varies from 10% up to 25%, depending on the number of services offered.
SIS Property and Tourism agrees with these rules and has fixed its commissions rates in:
- for selling/buying process
3% from the seller*
3% from the buyer*
- for holiday rentals
10% from the owner**
10% from the tenant**
*of the final price as shown on the preliminary contract (Compromesso).
** of the final price of the accommodation.
5) When I found my ideal property on your website what will be the next step?
First of all, ask further information and pictures. Make a list of all your questions and try to get the answers.
After that, if the property matches your requirements and you are still interested in, ask our staff to arrange
an appointment and visit it as soon as you can.
6) Is it possible to rent my italian house out after buying it?
Yes, it is! If the property is located in local agency area our staff will suggest you the monthly/weekly
house price list, once you accept, will market your home through local and international websites and portals,
will take booking, receive and assist the tenants during their stay, will look after and manage your property
in your absence.
7) Will I find linen and towels in my holiday accommodation?
In the most of the properties linen and towels are not included. However, this service can be provided
on previous request. The prices will be 15 euros per person per week, double bed set includes 2 sheets and 2
pillowcases, single bed set includes 2 sheets and 1 pillowcase, bathroom set includes 1 towel, 1 tea towel and 1
shower towel.
8) Is there any deposit to be paid before entering my holiday accommodation?
Yes, a security deposit is payable by you to the keyholder on arrival at any villa/apartment.
This must be paid in cash and you should collect it before you depart from the accommodation.
The amount of this deposit depends on the property, normally it would be about 200 euros for
standard property.
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SIS Property and Tourism Website ©2009 - all rights reserved - Puglia Property for Sale and low cost Holiday rentals in Salento.
Via Emanuele Filiberto, 86 - Santa Maria al Bagno - 73048 Nardò (Lecce) Italy - P.I.03603350756
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