The preliminary contract registration: its costs and procedures.
In one of our last articles we told you about the preliminary contract, which is also known as compromise. It is the legal transaction through which the owner/vendor of a property and its purchaser juridically commit themselves, with a binding validity among each other, in writing and under penalty of invalidity, to sell and purchase the above mentioned property. In order to better understand the features of this kind of agreement, we are sending you back to the reading of that article.
Today, instead, we want to deal with a specific aspect of the preliminary contact and its legal regulation: its registration.
Indeed, the preliminary contract has to be registered at the Italian Agenzia Delle Entrate within 20 days from its date of acceptance/signature. If the contract has been drawn up in the form of public act or authenticated by private signature of the Notary, the time limit is of 30 days. The costs and registration fees are to be borne by the buyer. In case of a real estate agency intermediation, the compromise registration will be done by it.
Let’s now start to analyse the costs and specific procedures of the preliminary contract registration.
- Stamp duty: it is a fixed tax which does not depend on the property selling price – tribute code 109T – and amounting to 200.000,00 €.
- Proportional stamp duty: amounting to the 0,5% of the confirmation deposit sums – tribute code 104T – or to the 3% of the deposit on the selling price. We remember you that this tax will be then deducted from the final deed of sale registration one.
- If the contract imposes a penalty, by using the tribute code 109T, a further fixed amount in the form of stamp duty is needed.
If the registration is delayed, the financial penalties application – tribute code 671T – is expected. Those penalties change depending on the days late quantity and consist on a percentage of the total amount coming from the sum of the costs 109T and 104T.
In order to register a preliminary contact two copies of the same are needed. Those have to be signed by both the parties in its original form. Moreover, some revenue stamps dating before or the same day of the stipulation are needed too:
- € 16,00 stamp every four pages (or every 100 lines);
- € 16,00 stamp for every attached written document (E.g.: land registry search,property title search, tender dossier, etc.);
- € 1,00 stamp for every document having an image (E.g. floorplans, map extracts, etc.).
Moreover, it is also necessary to present a copy of the registration demander’s currently valid ID document.
Stamps have to be deposit through the F23 Model at a bank or post office. It has to be presented in triple copy and include the buyer’s and vendor’s data.
Moreover, the 69 Model compilation for the registration request have to be done too. In this paper, you have to present the parties’ data, fiscal codes and the property for sale codes. As already said, the compromise will be registered at an Italian Agenzia Delle Entrate office.
Great Estate’s daily object is the total clients’ satisfaction. For the buyers, in addition to a technical and fiscal consultancy, our professionals are able to guarantee them a step-by-step assistance during the whole purchasing process: from the property choosing to the final deed of sale, including so the preliminary contact registration moment too.