The Legal Side

There are no restrictions placed upon Foreigners who wish to buy a house in Italy.

All property transactions must take place in front of a Notaio (a public Notary), who not only represents the Italian Government but also the Purchaser and the Vendor.

The Notary’s job is to ensure that all documentation required to complete the sale/purchase of an Italian Property is correct, to collect the tax due to the Government and the Land Registry is updated to show the new owner. To ensure that there are no restrictions or outstanding Mortgages on the Property and satisfy that you are buying what you expect.

Power of Attorney (Procura) is essential when the purchaser does not speak fluent Italian and would not understand fully what they would be signing. Therefore, this would not be allowed under Italian Law. The Power of Attorney would enable us to attend and sign on your behalf all relevant documentation. This will be in Italian and signed in front of the Italian Notary.

When you find your ideal property we will go through the whole process with you and clarify all issues and costs once agreed. At this stage you will be asked to sign a pre-agreement document (compromesso), which is a legally binding document. This document contains the Land Registry reference for the said property – intent on the part of the Vendor to sell the said property in question to the Purchaser. A declaration on the part of the Purchaser to buy the said property from the Vendor. The agreed purchase price of the said property. A time limit within which the completion Contract is to be drawn up and signed and the deposit (caparra) to be paid at the signing of the Compromesso, normally 10% of the purchase price.

After this stage should the buyer withdraw, he will lose his deposit, but should the Seller withdraw, he is liable to pay back to the buyer double the deposit amount.

Once the Deed of Purchase or final Contract (Rogito) is signed by both parties then the property is officially transferred. This has to be done within the time limit set out in the pre-agreement document. This will then be recorded at the Land Registry. Prior to signing the final Contract the Purchaser must ensure that all necessary funds are cleared and ready to hand over.

Fees

Our fees are 3.5% of the property selling price,with a minimum fee of 1750.00 euros. The fee becomes payable at the conclusion of a successful purchase; Except for  Off-Plan purchases,which in this case,the Fee becomes payable at the (Compromesso)signing stage.