Six Steps to be taken to buy a property in Italy
edited by lawyer Aldo Lucarelli.
First of all take a look around, there are many place to buy an house, someone are famous others not but they are nevertheless a good bargain.
Check the medium house price for square metre or ask to an agency.
Second, when you have focused the property you need to check the documentation, usually with the help of Agency or Professionist, such as Italian Geometra.
Third, You have to check the cadastral documents in order to carry on a safe purchase.
If all is ok, and there aren't any problems and the property to be bought is registered regularly, you need an Italian Fiscal Code to be requested to the Fiscal Office of the property region.
Fourth, the Proposal.
Proposal must contain:
personal information of the proposer;
elements that identify the property (cadastral elements);
The Proposal could came from the buyer and contain some prescriptions, options and the duration of the purchase proposal, i.e., the term up to which it is irrevocable (usually between 7 and 15 days);
The proposal could also be written in accordance between seller and buyer in front of Agency, Notary, Lawyer, and it will be as preliminary contract, or real Estate compromise.
The commitment to purchase is usually followed by an amount of money that has the value of a deposit, calculated in proportion to the value of the property
The confirmation deposit will guarantee the contract and must be returned (double by the seller) if one of the parties decide to exercise the right of withdrawal.
Fifth: Deed, public contract in front of a Notary. Usually in double languages, or with the assistance of a third person that will received the power of attorney to sign the deed.
Sixth, Property additional clauses.
Taxes of the Deed to be paid to the Notary, local Municipality Tax for waste and for Utilities, Shared Tax in case of condominium.
Investing in real estate in Italy with our legal advise is an excellent opportunity.