How to buy an Italian Villa on Auction - Auction Property
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- čas přidán 30. 06. 2024
- It's been a long road, but I think we've officially done it. I could definitely improve the video with more time, but I'm happy to get this information out there and share it freely with anyone who wants to fulfill their dream of owning an Italian Villa. This auction property strategy has no magic tricks, in fact every detail of this lesson is available publicly. There's just one catch! You need to know Italian!
Don't worry I've got you covered!
Check out this video and stick around till the end to really receive all the benefits of the video.
To get a free copy of the How to Buy an Italian Villa on Auction Checklist, Visit the link Below!
auction-checklist.selfretire.com/
Alright you guys, it's a long one, and I prepared it in record time, but I'm happy to get it out there. Make sure to stick around to the end to take advantage of all the benefits. Seriously, you'll be surprised!
Thanks
If i dont speak italian who would i hire to handle the process?.. i will be traveling to Southern Italy soon..
Hello again,
I was hoping you could give me some advice. I found a property in Abruzzo. How do you know if the real estate company is real and not a scam?
Is there a place online that you can look at a companies rating there like you do with better business bureau in the statues?
I would love to email you privately if you have the time.
Can’t access the teachable link
Great content, well done on breaking it down so clearly. Even as a native Italian speaker navigating this process gives me a headache!
Glad it was helpful! Have you ever considered buying one?
DauvO Possibly. IMO, if done prudently, it can be one of the more valid ways of creating financial independence and providing an income, especially with a view to living comfortably in later life. Pensions are not what they used to be, stock markets are a rollercoaster, fixed income returns are negligible and keeping cash on deposit right now is a joke...
However, am ambivalent about the auctions, who doesn’t like a bargain? But at the same time most of the more interesting places are occupied and the thought of displacing someone does not sit well with me.
In any case, at the moment there is very little out there and, as they say, fra il dire ed il fare c’è di mezzo il mare...
so underrated! you are doing an AMAZING job!
Thank you so much!! Share it! Share it! haha Hope it is helpful!
Thanks for the info, a LOT to digest, much to stay level-headed about to avoid making silly or even costly mistakes!!
DuanvO, thank you for the information. I took the notes and keeping my fingers crossed that the dream will happen one day.
Thank you for this very detailed video. Very informative.
Wow! Thank you so much for this video. So much valuable information.
Your welcome! Thanks for your support! Let me know if you have questions.
Exceptional, step by step information; priceless ! Many thanks for being so thorough 👍👍
Your welcome Jorge. I hope you can get some use out of it. Let me know if you need anything!
Superb, video. Facts, insights, actionable steps - this is why I'm a subscriber! Keep up the great work!
Thanks Anders! I need to get focused on sharing about auctions again now they are up and rolling again. Much appreciated!
Awesome video ! Looking forward to learning more
Thanks! Anything specific you'd like to know about?
Great video! Definitely subscribing ready for more videos to come!
Thank you for all the information
Awesome info! Thanks
Thanks for the video. I wonder where you are in the process here in 2021. I have been watching and thinking about this for a few years. I appreciate the timeline and breakdown on the auction. I need to investigate more on the visa and residency topic so it goes well when I am ready. Thanks!
Thank you so much for the fantastic advice
Thank you very much for sharing this info!
No problem let me know if you have any questions, Nancy!
Thank you DauvO I thing going there and see the place will work for me and of course with your advice will work!! Ciao!
Thanks for video, good one!
Very nice video and good info
Thanks for that. Let me know if you have any questions!
Such a great video, maybe I will pull the trigger 🙏
Thanks for saying so. Let me know how it goes if you do!
Very interesting video, I enjoyed it.
I have seen this bit late but still a very valuable video and i have learned a lot from the video. Appreciated and hope the rules and conditions are still the same..!
Glad it was helpful! There are a few changes to the actualy participation, but finding the properties is the same. Just a few less options right now
Great information
Thanks for all the great info! I was wondering have you noticed more homes at auction right now?
Great, video. Nice insights, actionable steps. Is it still time to get on the mailing list?
very informative....thank you
Glad it was helpful!
New subscriber here. Great idea! Thank you. I hope we can also purchase a property just like you!
Welcome! Glad to hear your thoughts! You're doing great starting by doing the research!
Very good video! I want to be added to the course! thanks!!
Thanks! Can you contact me directly? Check my about page for contact info.
@@DauvO Hey man. Thanks! Wrote on facebook. I think your page is down
@@inzuretawetrust thanks I saw that, I didn't catch the renewal email and need to update it.
New subscriber today
Great content! I’m exploring the idea of buying something to start a hostel or AIRBNB. Will need help with it.
Which area are you considering?
Great video DauvO. I've zoned in on a couple of properties in Pistoia area that are coming up in the next few months. Unfortunately, we are in Ireland and we can't travel due to covid and are having trouble getting engagement from local agents. Do you do property visits? Thanks!
Wow. I tripped over your video while search the web to see if there were Home Depot stores in Italy! I feel like you're my brother from another mother! (You're about my daughter's age tho!)LOL!! I own a real estate co in US that I started in '02 because I had a passion for investing in real estate that really became a burn because of Rich Dad/PoorDad. Now I have 21 rentals here in Florida. I've been scouring thru Immobilaires emails looking for a good deal on a 2 or 3 unit property. Preferably in Lecco with a view of the lake. You know, that classic Kiyosaki prototype? I never watch CZcams because I'm always working but I'm super pumped I found you! I subscribed & can definitely use your services!
Hi Jill! Glad to hear from you! Amazing what you've accomplished! Sorry I haven't been posting recently, but I am about to get back on. Lecco is one of my favorite areas near the lakes. I just visited last week!
@@DauvO I've just booked a flight in Sept. & there's an auction the day after I arrive that I'm VERY interested in! I think I'm ready for your services!!!!!
Is it still time to get on the mailing list? I'm on it and really want to learn more on that. I have so many questions right now. Thanks :)
Thank you for the good explanations of everything. What I would like to know can it happen in Italy that the former owner lives still in the house after the auction and of how could I get him out of the house then. I ask because this happened to me when I won an auction in Germany and it turned out to a real nightmare…
great video Really interested in working with you.
Good job , great info but need more apartment fixer uppers
Great content man! I would like to speak to a mortgage advisor and architect who knows Sicily specifically. Could you recommend anyone potentially?
great channell, have subscribed. very straightforward and honest info.went to italy first in 2009. to watch the giro. travelled from florence to osimo, to choggia, to arte terme/ tolmezzo. and down to riva del garda, and como. loved all of it. i have often thought about buying in italy. but at my age i think longe term rental is best for me. any ideas? would be much appreciated. meant to go to puglia this year but covic put a stop to that. i really loved lecco and surrounding area. but also loved tolmezzo. wouldnt mind long term rental in any of those areas, regards ray from ireland
Thanks for subscribing Ray! You can find some great options for rentals as well. There are some communities offering to help pay rent too!
@@DauvO so grateful for your response. thank you. i will look for those rentals, i would never have thought such a thing was possible.
I bought the ebook. Ty
Awesome! Thanks for your support! Let me know if you think it needs any changes
How can you find the documents (Perizia & Planemetria) and find out the costs to HOA? Cheers
Great. Thank you. Can you talk about the cheapest ways to change dollars to euros?
Thanks for the request. I'll see what I can come up with!
Ciao Dauvo! Qual’è l’équivalente di HOA in Italiano? Is it il condominio? Thank yo, Grazie! My husband, my family and friends love your channel. So professional.
you’re right to talk about the concept of bilocali and trilocali. One thing you could add when communicating with your viewers, is to look for ‘ camere da letto’ when looking for numbers of bedrooms. In other terminology is ‘ vani ‘ when referring to numbers of rooms in the property. I’ve just subscribed to your channel. I spent part of my childhood and teens in Central Italy ( la Toscana) and would love to buy something but the only thing that scares me is the geological aspect since we’ve had couple of earthquakes the last ten years....
Good suggestions! Yes a 'condominio' is the name of an HOA. Thanks for sharing your thoughts. Often properties are described based on vani especially regarding the older properties. 2 Vani is not a two bedroom and that can be confusing
Great Video .. Is there any website, any information someone can get to find out how much a property went for at auction ?
As far as i know, there are no published results. I agree that would be great to have
Great video! Very informative!! I just looked at some auction properties in the area that I like. I see one that was up for bidding last week, and then listed at the top it shows the price it sold for. Then I see another property that was up for bidding 2 days ago but at the top of the listing it says "Deserted". Does this mean that no one bid on it? And if so, what happens next? Can I come in now and try to bid on it?
You have to wait until the next auction round, or try to buy it pre-auction (referring to the next auction)
Oh man, my comment disappeared! Short of it, I love your videos! I found an auction happening for a house in a town I love in Piemonte, it’s happening on June 9, I can arrive there on June 7. I have an Italian bank account but no fiscale number yet. Do you think I can get it done by the auction date?? Thank you!
It'll be tight. Contact me at dauvollc+auctions@gmail.com and I can tell you for sure
Thank you for sharing all the information. I lived in Northern Italy for a few years while I was in the Air Force and fell in love with it. Now that I am retired I would really like to purchase a nice apartment with a closed garage to spend half of each year. I will be looking in the Northern area from Como, East to Cortina d'Ampezzo. One concern that has come up recently though is the possibility of Italy moving toward having an extremist far-right Mussolini style Prime Minister. Is this a valid concern or is it just blown up by the media? How do the Italian people feel?
Just found your video. Great content. Unfortunately, I'm not able to get into these websites. Are they only accessible from Italy? I'm connecting from Singapore.
They should be accessible worldwide. I know it had been working in the US, Australia, Canada, South Africa, ... and so on...
I was wondering what happens if there are no bidders?
I thought the base price comes down??
But I found a house and they relisted the home for the same price after there weren't any bids.
What will happen to the property if there are no buyers?
Great video! 👍where is the check list?
Hi Sylvia. Did you get the checklist. I know I was having issues with the opt in previously. If you go through it now, it works link.selfretire.com/auction-checklist
Awesome video! Do you offer any kind of consultation or hand-holding assistance with one's first purchase?
Definitely, when you're sure you need feet on the ground here in Italy, I am set up to help you participate in the auction. We'd of course do a consultation to get on the same page and if it looks like we're a good fit, we'd proceed with property inspections and narrowing down a villa for you. I can send you a link, would you like to know more?
DauvO I do hope you will be around in the next 2 years or so. Will definitely need this service!
Are you able to send me a link as I am highly interested and I would like your assistance?
Hi. I am seriously interested in buying property in Italy and subscribed to your channel. Great content! I have a question: is the purchase tax a yearly tax or a one time tax? What constitutes “living“ in the property as a residence if you are from the US And on a temporary visa? Thanks.
Welcome and thanks for subscribing and the kind words. The purchase tax is a one time fee. To be eligible you have to claim the property as your residency. You ask a great question that I will need to clarify. It gets confusing since 'residence' is used in many ways, but since residency regarding taxes due to Italy (like income taxes) is dependent on whether you live here more than six months, i believe the 'prima casa' tax benefit has the same basis. So if you are on a tourist visa, you most likely won't be eligible for the benefit whereas the Visa doesn't extend past 180 days annually. I will get a definitive answer, but I advise you to connect with a CPA that knows Italian tax policies before you purchase. Here they are called a 'commercialista.'
@@DauvO No, it takes a notary who also deals with Italian taxation, for the residence the embassy of the country of origin knows how things stand...
Great video.thank you..how about if I live 6 month in ny (I'm a new yorker) and 6 there ..I cant check ..reside or invest?? Please what can I do?
I personally think, if the budget for frequent travel and is there and there is nothing keeping you in one place like school for kids, would prefer the 6 months option. But it is more like 3 months per at a time
Can I be added to your student list still? I am interested in buying on auctions
I didn't follow what the home owners association is and what sort of costs are involved. Also, do you inherit debt associated with the property as in Spain? Are there private sector auctions in addition to court auctions and would a notary be able to deal with the bureaucracy to avoid mistakes?
Home owners's Associations are just how an apartment complex organizes the payment of the shared expenses like light, elevator, and maintenance of the exterior structure. They range from very low 20 - more than 250 per month depending on whether the building also has shared heating and extra services.
The debt is cancelled aside from community based citations for illegal work performed and 2 years worth of unpaid home owners associations fees. A notary only gets involced with the auction in the event you tie in a mortgage.
How much of the year do you you need to live in the property to claim the lower tax rate? Is a couple months as a summer/winter home good enough? Does renting it as an AirB&B the rest of the year invalidate this?
I believe 6 months is required. It is the same period which makes you liable for Italian taxation on earned income. You need a long term residency VISA for the 'Prima Casa' benefit.
As for the AirBNB income derived through Italian Real Estate, It will be taxed by Italy even if you don't have residency.
Thank you!
Thanks for watching!
Are you still putting together the course?
great video, but what happens to your 10% deposit if you didn't win a bid? do you loose it?
No, you won't lose it. All deposits that are sent in or given by check are reimbursed upon failure to win the auction! Great question!
Hi DauvO, I made my first visit to Italy last year and wrote you on CZcams about how I couldn't get any real estate (Immobilare?) salesperson to show me any property. I am making my second trip April 13 to May 20 and I will be in Milan at the start and finish as I am flying in/out Malpensa. I didn't understand how to search for auctions online, I was just looking for auction property in Campania.
Does that mean you are here right now? How's it going this trip? Write me at dauvollc+comments@gmail.com if you'd like. 👍
Thank you so much! I love your videos, full of info always. It is tempting to try to buy a house through an auction vs directly through a real estate agency. My question is off topic a little bit! My husband and I are thinking of moving to italy and opening a B&B, is this a crazy idea? would you advise it? putting aside covid of course and hoping things go back to normal soon. I am planning to travel to Italy by the end of this month if Im allowed to enter the country? Thanks, Luz
Your B&B will be booked for most of the time and prices are rather high per night if it's a modern, pretty place in a convenient location
I stuck to the end can I DM you to add me to the course list please?
I really need your help.
I’m an American currently living and working near Milano. Apart from Milano, do you find that many homes/apartments are much cheaper than in the states? I’ve had friends tell me they’ve bought 2 bedroom/2 bathroom apartments for about €60k outside of the city. I come from near Portland, OR and $60k would be a pretty normal down payment (for a house and not an apartment). Seems like homes outside of a big Italian city are very cheap.
This is true. If you don't have the necessity of living in Milan directly you can find really cheap real estate outside of the city. You can find some relatively cheap deals on the edges of Milan as well.
Portland Oregon here! Trying to buy in Piemonte.
sorry typo. was 2018 i first went to italy, and again last year in 2019
No worries, thanks for the update
What does RIP mean when a room on the floor plan is labeled that?
Sounds like someone has died there.... 😕 just kidding.. it's a ripostiglio which is a type of closet or nook.
@DauvO your checklist link seems broken. Do you have another way to get the checklist?
Sure! I can look into it. Was this the link you used? www.selfretire.com/how-to-italian-villa-on-auction/ Sometimes the confirmation shows up slow or in SPAM. I just confirmed that it worked for me.
Once you confirm the email, it should open a window with the attachment. If you have an ad blocker it might not allow the tab to open. Let me know if that works!
@@DauvO Thanks... I will need to do some troubleshooting as I don't get that far. The screen seems ghosted and does not let me enter my name or press the subscribe button, but thanks for confirming that is the link. I'll try to figure it out.
@@PaulFromCHGO if you still have problems just email me at dauvollc+help@gmail.com and i will send it to you
Do you lose the 10% of your bid if you don't win the auction?
Anyone know how to get a living visa to stay in Italy if you buy the property?
hi, is there something better than Scalea? I see many appartments there....
There are many places that you might like more. Depends on how big of a city you'd like to be in.. any idea?
@@DauvO I would like to have a beach at least 500 meters away...a big shopping mall...some vegan restaurants etc....which one is better scalea or sicilia? Also stuff to look at and empty bsandy beaches you can use....I do not want to be crowded on the beach....
Who evicts the current occupants when you win the auction ?
Love ur channel. Have you tried getting real estate in Rome, Florence or Venice?
I have some contacts in Florence and near Rome, but I haven't branched out of the area yet for my personal investments. Which city do you prefer?
DauvO i visited Italy in 2017 and was completely blown away by Venice. I had a trip to go back to Italy in September this year to visit Milan, Lake Como and Cinque Terre but will have to cancel those plans. I hope to eventually find a place to purchase somewhere in Italy. I’m glad I found your channel. This content will help me a lot whenever I’m ready to make a move.
Very informative. I look forward to additional videos. Add me to any mailing list. Thanks.
Hi my dad past away here in USA would you know how I may find information if he owns property in Italy? Thank you
A lawyer can do a title search for you.
@@DauvO thank you 🙏 do have a name of a good one that won’t ask for so much money?
@@marilombardi7120 ya if you want to send me an email, i can connect you dauvollc+info@gmail.com
how can i get help from you on auction homes?
We can schedule a call. Message me at dauvollc+auctions@gmail.com
Where do we find these auctions?
The provinces arrange listings themselves or through third parties. You can find the instructions in the video on how to find them through google!
Really enjoyed this and your other videos. You mentioned that an Asta was abandoned in one of your videos (that 5700sqft property you wanted to subdivide into 3 flats). Did that mean that no one submitted a bid or that the price they were looking for was not met? I've seen a couple interesting properties that have been abandoned at asta and I'm curious. Thx. I'd put my email for your course, but I don't feel comfortable leaving an email address here.
You can send me your email in a private message. Find it on my about page.
Deserted means no eligible buyers were present. It happens a lot. Usually those are hidden unless you select to show past auctions. At least on most websites.
@@DauvO Thanks. Will do.
Your kids are SOOOOOO CUTE.
I just want anything in Italy. It’s just me and I just want to not be here anymore. As long as it’s fixable I’m good.
Me too
Do you sell real estate there also?
I'm not a real estate agent. I do other consultancy services, but don't have an inventory personally
If you are not a citizen do you have to pay in full-or will a Italian bank give you a loan?
There are loans for non residents. Just have to be able to prove your income and follow loan to Value parameters.
@@DauvO is it possible to email you some questions regarding this?
@@capo2736 ya dauvollc+info@gmail.com
Hey cool man, how to buy non citizens? and myself my name is suresh from India.
Nice to meet you, Suresh! Nice request. Definitely some details that need sharing.
How can i find the property??? Without estate agent taking 3%!
We've connected through email if I'm not mistaken, correct?
Yes thank you
I could really do with advice. How do I contact you?
you can email me at dauvollc+info@gmail.com. I commented on the other video as well.
Thank you so much. Will write soon over the weekend. 🙂
You live in Italy ?
Yes, yes i do
so I can buy a home in Italy even though I’m US
Ya for sure, but you'll wanna make sure you have a good use/gameplan for it! 😆
what you mean buy a villa is it a stand alone property
It can be. There are also apartments, but personally I prefer a villa or 'villetta'
180$ for what?
my god just get to the content
Patience my friend. You're watching an older video, I do much better since then
Immobile means it is a building. Clearly it is not movable... lol
Not all buildings are non movable.. I guess the origin of the word immobile wasn't ready for trailer homes. 🤔😂
DauvO Italians don’t consider trailers homes.... Great channel by the way.
So you have just fallen off of you-tube???? What’s up? Last one I saw was your wife’s glasses store.
Hi Leon, yeah i was off for a while. But i am posting again. It has been too long
This guy only talking don't show a house for sale
Repeat 5.57 on the video and you see why!
Thanks for pointing this out! It's true, I could have most likely shown some examples, but knowing that the court has restrictions on third party's using the photos, It was best to focus on the how .. @Jan Warnawa Even if I had shown the properties, You seeing the video 2 years after it was made would have been useless info.
Very informative! Thanks a lot! 🙏🏾
1. Do you know the legalities or have any facts about using someone from back home (America) to help with the remodeling process?
2. Does buying property at an auction qualify an individual for residency? Do you have any videos or suggestions on obtaining residency?
3. Also, you mentioned paying the 10% down on a property you win at the auction if your bid is accepted, are the other fees included in the remaining costs that you have 120 days to pay? ( purchase tax, H.O.A. fees, etc.)
It's complicated. if your American you will pay more than 10% in fees and other things like taxes. better to be an Italian citizen to get all the benefits. This video don't say much at all. Americans need 30% if you want a loan < good luck getting it unless you have lots of money (witch i am sure he has). then all the paper work has to be converted to Italian (cost money) lawyers..etc..etc. unless you have lots of money, you screwed. that's the problem with youtubers like this guy, he had money and backing, we don't. Good luck to you tho and this wild adventure.
Do you have a suggestion for your Facebook, and for the city of Atessa. Thank you, chris
How can I help with Facebook?
I will look into the city of Atessa
Hi, i am interested in buying a property in an upcoming auction in southern Italy, do you have a contact? you mentioned your website, can you post the website address