Buying a Home in Italy 🇮🇹 Part 3

 

Welcome back. In this chapter I shall explain the process from the buyers point of view when buy a property in Italy.

I hope this may offer potential buyers some understanding of whats to be expected and may help someone move towards owning their own dream home. 

 

This is my own personal experience and I would suggest having highly recommended representation when looking to buy. 

 

In the last chapter you will remember I ended with my offer being accepted. Moving forward, we head towards the first step the offer letter, this outlines things such as price of the property in question / price broken down into deposit and final balance, address of property, details of seller / buyer

Details of the notary dealing with the sale. 

 

A note on Notary’s 🙂

 

A notary, or notaio, in Italy is a public officer, appointed by the state and whose role is to authenticate and attest acts. He/she works within the law, with families and businesses to create appropriate legal solutions that satisfy both the law and the aims of both parties, thus discouraging any future litigation.

 

After you are happy with the above 

You can then move on to the 

PRELIMINARY CONTRACT OF SALE

Which contains such information as?

 

*The full details of buyer and seller of the property.

 

Description of Properties and Agreement – outlining exactly what you are buying, floor plan of the property and square meterage, out buildings, land ect. 

 

Availability: 

This is from the sellers stating that they own the property and that it will be available and free from possessions by the agreed sale date.

 

Inscriptions and Transcripts:

 

Which the sellers declare that the property is free from any charges or costs mortgage / tax conditions.

 

Family rights – an outline of the buyers and sellers with details of marital status etc. 

 

Provenance – when the property was acquired I.e. year of purchase by the current owner. 

 

Urban Development Declarations:

 

This declares information about the property and highlights that the property has be checked and cleared of anything such as planning issues or unauthorised developments / violations of building regulations.

 

Energy Performance Certificate

Similar to that of property in the UK 

Performance and rating of the property.

 

Notarial Deed of Sale:

This states the date the deal must be completed by and where normally the business address of the notary overseeing the deal. 

 

Other areas included are self explanatory 

Such as 

 

*Charges

*Possession

*Price and methods of payment

*Tax declarations

If you would like more information on the buying process in Italy,🇮🇹 Follow the page by clicking on the contact button and entering your email.

There is plenty of information as well as the contacts needed to make your dream of owning a place in Italy a reality.

After this we move on to the Compromesso stage!

If you are interested in buying in Italy 🇮🇹 feel free to contact me.