Val Orcia Villa, Val D'Orcia, Tuscany, Italy

€9,000 Per Week

This classic Renaissance style villa is located within a 720 hectare (1200 acre) estate.

This classic Renaissance style villa is located within a large estate, surrounded by vineyards, olive groves and old-growth hardwoods. Eight kilometers of easy driving separate the Tavernaccia country home and farm from Florence.

At 320 meters above mean sea level the house and the park have a commanding 360° breath taking view on Florence's surrounding countryside up to Giotto's bell tower & Brunelleschi's dome. The tower provides a splendid platform for a panoramic view of the undulating terrain.

Surrounded by a park, the grounds feature a comforting swimming pool, a small theatre in a natural setting and paths upon which to set out on walks. Villa Val Orcia is an ideal place to relax in the arms of luxury. Prince Charles and Lady Diana were guests in March of 1986, on their first trip together to Italy.

GROUND FLOOR Entrance Hall Two spacious living rooms Dining room overlooking the gardens Outdoors dining and relaxing areas Kitchen Master Bedroom toilette

FIRST FLOOR Four double bedrooms, each with king sized beds and bathroom Two bedrooms each with twin beds and bathroom One bedroom with a king sized bed and bathroom on an upper mezzanine level.

UPPER FLOOR Belvedere Living room with four large windows giving a 360° view upon the countryside

A GUIDE TO BUYING IN ITALY

As with any property purchase in any country, it is always advisable to gain the help of reputable and independent legal and property advisers when you propose to buy in Italy.

MAKING YOUR OFFER

Purchasing property in Italy is usually a three-stage process. When you make an offer to buy, this needs to be made in writing by way of a formal Purchase Proposal and this should be accompanied by a deposit (which can be up to 5% of the purchase price). The deposit can be held in escrow. It can be a good idea to put a time limit on your offer and make it subject to due diligence.

THE PRELIMINARY CONTRACT

Once the formal details of the sale have been agreed between the buyer and vendor, and their legal representatives and the due diligence completed, the preliminary contract can be entered. This is a formal agreement drawn up by the agent, lawyers and, in some cases, this contract is also notarised. The contract stipulates all terms of the sale/purchase and is typically accompanied by a further deposit payment between 10%-20%. Again this deposit can be held in escrow or paid directly to the vendor. If the seller changes his mind, he will have to pay you double the deposit you have lodged.

THE DEED OF SALE (‘ROGITO’)

The public notary prepares the final deed of sale known as the rogito, whilst also carrying out land searches and so forth. The notary is a public legal body who represents both the buyer and the vendor, and collects the necessary taxes on the sale/purchase. It is the buyer who may choose which notary they wish to use.

THE COSTS OF BUYING

The main costs met by you, the buyer are:

Lawyer’s fees : 1-2% + IVA
Notary’s fee : Approx. £3,000 + VAT
Estate Agent’s fee : 3% + VAT
Tax on property : is calculated at 9% of the value according to the land registry. On resale properties the land registry value is typically lower than the sales price, often by as much as 30% to 50%.
Tax on land : is calculated at 12% of the land value. The notary will decide an appropriate value for the land in line with land prices in the area
NB:If you pay for your purchase with funds from outside Italy, be sure that the records are officially documented. Any later sale proceeds can then be repatriated.

ONGOING TAXES

Property owners pay income tax based on the theoretical rental income of the property. However, non-residents in Italy are subject to this tax only if the income exceeds a certain threshold.

Council tax (‘Imposta Municipale Unica’) is based on the land registry value of the property and is collected by the local authority twice a year.

You do not pay Capital Gains Tax if you sell the property more than five years after the purchase.

Please note: This article reflects Aylesford’s current understanding of property legislation in Italy. It is offered for general guidance only; specialist legal and tax advice should always be taken for any property transaction.

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