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Investment property UK

why invest in UK ?

  • London is one of the largest and most dynamic cities in the world, a leading global financial and tech centre that offers a wide range of investment opportunities.
  •  The market is booming, benefiting from an entrepreneurial renaissance in recent years.
  • Four of the world’s ten biggest banks have either global headquarters or European headquarters situated in London.
  • The simplicity and efficiency of the UK legal system and market practices means investors are able to access accurate market information about specific assets, as well as about the market in general.
  • The liquidity of the London market means that entry and exit are always possible.
  • London has five international airports. Heathrow is Europe’s largest air hub.
  • London attracts more inward investment than any other European city.
  • London is working to become a world leader in environmental and climate change issues.What are the main documents to buy a house in uk”]

 

what are the main documents?

Make an offer on a property

Once you have decided on a property, you will need to make an offer. The offer must be made formally, in writing, and is subject to certain terms and conditions. Your offer must be “subject to contract and to survey“.

Due diligence (the solicitor)

The ownership and right of the seller to sell the property must be verified. Check with the local authority that there are no plans for building major roads or other constructions nearby. Check the boundaries and rights of way, as well as existing restrictions. Verify the lease of the property (whether it’s Leasehold or Freehold).

Exchange of contracts

Once everything has been checked and confirmed, the contract can be signed and exchanged. You will need to hand over a deposit amounting to 10 per cent of the property price. The completion date will also need to be agreed on.

Completion

Once the contracts have been exchanged, solicitors will finalise the transfer of ownership and a final document will need to be signed. The solicitor will pay stamp duty on your behalf and the transfer will be recorded at the Land Registry. Once the sale is closed, you can collect the keys to your new home and receive the title deeds.

what are the taxes?

Stamp duty % on property price
Up to £125,000 0%
£125,001 – £250,000 1%
£250,001 – £500,000 3%
£500,001 – £1 million 4%
Over £1 million – £2 million 5%
Over £2 million 7%
Over £2 million bought by corporate bodies 15%

LAND REGISTRY FEE

Price Land Registry Fee
Up to £40,000 £40
£40,001 – £70,000 £60
£70,001 – £100,000 £100
£100,001 – £200,000 £200
£200,001 – £500,000 £300
£500,001 – £1million £500
Over £1million £800

 

There are other costs?

Survey

There are two types of survey: a homebuyer’s report that costs between £250 and £500 and a structural survey that can cost anything up to £1,000 (plus VAT) depending on the value of the property.

Legal costs

In the UK the solicitor draws up the contracts, and both the seller and the buyer will have a legal representative who will look after his interest. Solicitors will charge a percentage of the property value for their services in drafting the contracts.

Commissions

Marigot Ltd for the activity of sale of a property for the buyer asks the commission of 4% on the value of the deed / tax not included). The amount will be paid at the time of the notarial deed. Any additional costs (on-site assistance – and other transfers will be agreed in advance).

Investment property USA

 

What are the costs of a property in the USA?

A property has 3 costs:

1) Property tax ranging from 1% to 2% of the cadastral value of ‘property (35/40% less than current market value). The property taxes are fully utilized by the federal state in infrastructure and the costs are visible online.

2) HOA (condo fees), which include the insurance policy on the management / ordinary and extraordinary maintenance of the common areas, facade and roof.

3) Property Management company that manages the ‘property, tenant search, pay utilities and quant’ other than to pay for the property and submit monthly reports. This cost varies from 8% to 12% and is standard in the USA. Our service generally costs the Property Managment ’8%.

 

What are the costs to be incurred at the closing (deed)?

The costs for the deed may vary depending on the rates of fee of the lawyer, but tentatively hover between 1% and 3% of the selling price.

Typically the cost of a deed (closing costs) and consist of legal fees, registration, transcription act, etc …

Are also optional, but recommended the ‘Inspection and Title Insurance.

With Marigot Ltd you can take advantage of a framework agreement signed by our Patrner, and for properties valued up to $ 100,000 all the closing costs are $ 3,200 in forfetizzabili.

I would like to set up a company which made ​​payable to the apartment, what procedure you need to start?

An LLC (Limited Liability Company), which would be a kind srl, may be formed even at a distance; Our staff can provide training or other kinds of it according to the needs of society in 48 hours, as well as get for you the VAT number (EIN Number), which is essential to make the company active.

The company will have an annual cost of renewal amounted to $ 138.75 (federal tax).

Marigot Ltd can handle for you behind the formation of an LLC to the amount of Euro 1,500 + VAT Tuttocompreso, ie, without any further payment from you, unless the cost of the courier for shipping documents if necessary.

 

The commission is paid by the buyer?

Marigot Ltd for the activity of sale of a property for the buyer asks the commission of 4% on the value of the deed / tax not included). The amount will be paid at the time of the notarial deed. Any additional costs (on-site assistance – and other transfers will be agreed in advance).

 

I have to form a corporation?

No. But it may be advisable, especially for real estate assets of some significance. However, for a single apartment of value such as below 100,000 euro, it could be a way oversized; obviously depends on personal circumstances and by a thousand variables that should be treated seriament, im a personalized way, with a tax advisor.

From the point of view of tax on rent, these tend to be always equal to 0 as it can to deduct everything (including air travel to visit the house and living expenses, as well as maintenance costs, management fees etc) including the ‘depreciation of the unit that is calculated in 27 years. All this makes sure that they are not, in fact, pay taxes. In case there is a gain even after the deduction of the costs mentioned above (which is very difficult), the rates are still very favorable USA (request more information).

 

Can I rent the house weekly or monthly?

This is regulated by the municipality and from the condo. For example, June 9, 2010 the town of MIAMI BEACH voted “no” against the short-term rentals. The town of Miami Beach is divided into several zones (plan) including the areas in which the exercises are permitted commercial and residential areas. There are three types of residential areas:

RM-1 Multifamily Residential, low density. Generally fall into this area all the apartments and houses in the avenues and streets from Drexel Avenue to Bay Road (to the west towards the bay). The RM-1 is forbidden to rent apartments for less than 6 months.

RM-2: Residential Multifamily, medium density. Generally fall into this area all apartments on Washington and Collins Avenue. In the RM-2 is permitted to rent for less than 6 months.

RM-3 Residential Multifamily, high density. Generally fall into this area all apartments on Ocean Drive. In the RM-3 is allowed to rent for less than 6 months. The Statute of Florida, Chapter 718 303 paragraph 3 authorizes the condos to apply a fine to the owner a maximum of $ 100 per day up to a maximum of $ 1000 for not respecting the rules. If the fine is not paid and the regulation is not complied with, the condo has the right to file a complaint by a lawyer and even expropriate the apartment. It must be emphasized that the municipality has the authority to impose a fine of up to $ 5000 per day (five thousand dollars). Before imposing the fine the offender typically has to appear in court.

 

Who takes care of the future resale of ‘property?

Marigot Ltd and his staff on site will follow this look totally agreeing the fee on a case by case basis.

 

How long are the leases?

Contracts can have variable duration; generally the apartments that we offer to use investment are leased for a period of one year; this does not mean that the ‘tenant will be released by force at the end of annuities, but every year will be renegotiated terms. This factor plays to the advantage of the owner, as the crisis had reduced the purchase prices of the houses like those rents, and rents are rising and this will ensure the owner a clear yield increasing.

 

How do I open a personal account or on behalf of the company?

Marigot Ltd will assist you in every step; We have agreements with some banks that will open a current account in 30 minutes with access to e-banking and issuing Visa card. The ‘opening of the account requires your physical presence at the’ Institute of Credit.

The statement, in general, has no opening or closing costs and even management provided there is a balance of at least $ 3,000 or be moved 500 USD per month.

 

What are the agreements between the USA and Italy in tax?

Italy and the United States have a treaty to avoid double taxation (both from Italy and from America).

 

What is included in the condo fees (HOA)? 

For condominiums in general, including even those of luxury, maintenance costs also include standard or basic water. Except for very short periods of the leases, the tenant will pay all expenses relating to the supply of consumption variables such as electricity, telephone, television and internet, while all other service charges are borne by the owner. The building insurance against flooding, wind, fire and other insurance, are regulated according to the needs of the building. Other expenses included under expenses, may include security service, the use of the tennis courts, the gym, the sauna, the area for the barbeque, hot tub, boat dock … and the list goes on. So the services determine the expenses.

 

What happens if the tenant does not pay the rent? 

The law in the United States is very clear and protects the 100% owner; If a tenant does not pay the rent eviction takes place, very quick procedure that requires no more than 34 days.

Specifically, the eviction can happen for 3 reasons:

1) To not pay the rent. To contract there are typically 3 to 5 days of grace and generally a penalty of $ 50. If the tenant does not pay within the stipulated time, the owner (the management company will take care of this for you) can send by mail with return receipt, or affixed on the door of the tenant, a notice to pay rent within 3 days (excluding Saturdays, Sundays and holidays), specifying the total rent or to evacuate the apartment. Otherwise, the owner may proceed with the eviction practices or by a lawyer or go directly to court.

2) For violating the contract and the laws of the Statute.

3) To abandon. Abandonment in this sense is understood absent for half a month without paying rent and without having notified in writing the owner of the absence. Eviction procedure. In Florida it is forbidden to evict without a court order.

Is given an eviction notice in writing in the event of non-payment of rent. The tenant has 3 days to pay the debt or to evacuate.

Past 3 days the owner sticking a lawsuit and cites the tenant in court. The management company will start all procedures for the customer and after it warned.

On receipt of the citation, the tenant has 5 days to respond in his defense at the court and to be able to expose the case even if it is obliged to deposit, always with the court, the total amount due.

If the tenant does not respond to the summons, the court will authorize the Sheriff to evict the tenant. If you respond to the summons, will set a date for the hearing.

If at the hearing the tenant loses the dispute, the tenant will have to pay double the rent due, costs of court and any attorney’s fees of the owner. If the tenant does not appear at the hearing, automatically lose.

If the landlord wins the case, the judge may issue a warrant to the Sheriff which authorizes the owner to take possession of the apartment until 24 hours after having already posted a notice in the building dell’avvenuto eviction. At this point the owner or administrator can legally change the lock and after 48 the notice of the Sheriff, potra ‘take possession of any personal effects that can be sold to recover the rent and other expenses.

 

Investment property Italy

 

why invest in Italy ?

Italy is a country of the European Union, which has a total of 7458 km of sea coast. Its scenic beauty is unmatched, its history expresses itself in the territory of which changes from north to south. Venice - Florence - Rome - are the cities most visited by tourists, with the north-eastern Italian Venezia - Trieste - the Alps, the Dolomites (Cortina d’Ampezzo) are the pearls in the sun. Investing in Italy is important if the property is placed on a tourist area, such as Venice is unique in the world, the pearl of the Dolomites Cortina, St. Anthony of Padua, the city all areas with significant annual returns. Do not rule out investing in hotel - companies that produce wine and fashion italian style.

what are the main documents?

Make an offer on a property

Once you have decided on a property, you must make an offer. The offer shall be made formally, in writing, and is subject to certain terms and conditions. Your bid must be “subject to contract and survey.”

Due diligence (the lawyer)

The property and the right of the seller to sell the property must be verified. Check with the local authorities that there are no plans for the construction of highways or other nearby buildings. Check the boundaries and rights of way, as well as the existing restrictions. Verify the location of the property (if it is Freehold or leasehold).

Preliminary purchase

Once everything has been checked and confirmed, the preliminary contract can be signed and exchanged. You will need to hand over a deposit equal to 10 per cent of the property price. All conditions and the date of the notarial deed must also be agreed.

notarial deed

Once that has been exchanged preliminary, the final transfer of the property will be signed by the parties by the notary. Will be paid cadastral taxes and VAT plus commission of the notary. The notary will proceed with the registration in the land register. Then you will be handed the original deed registered.

There are other costs?
tax:
Italian taxation on real estate is very diverse, both a first or second home ownership. At the time of the purchase decision, it will be an estimate of costs for taxation.real estate expertise

There are two types of evaluation: the property valuation based on the market value of which has a cost of € 1,000.00 and the structural relationship that has a cost of € 1,500.00 plus tax (depending on the value of the property) .

legal fees

In Italy the real estate agent will have the task of carrying out a preliminary sale. The owner must ensure that the property is transferred free of mortgage registrations, censuses, charges and prejudicial transcriptions, as well as taxes in general, and guarantees its legitimate origin. The verification of documents will be done by an expert (surveyor of trust)

Boards

Marigot Ltd for the activity of sale of a property for the buyer asks the commission of 4% on the value of the deed / tax not included). The amount will be paid at the time of the notarial deed. Any additional costs (on-site assistance – and other transfers will be agreed in advance).