Guide to buying Italian property released
22 Jan 2009
A guide on buying property in Italy has been released by a law firm in the country.
De Tullio Law Firm, writing for nubricks.com, has advised would-be buyers that there are three stages to purchasing a home in Italy – the reservation offer (proposta irrevocabile d'aquisto), preliminary contract (contratto preliminaire di vendita) and deed of sale (atto di vendita).
Whether people buy through a real estate agent or directly from a vendor, they should always engage the services of a solicitor, the company recommended.
People must usually pay a deposit, normally at least ten per cent of the purchase price, at the stage of signing the preliminary contract, which should be examined by a lawyer.
A notary, who is supposed to be completely neutral and impartial, is used to validate contracts transferring ownership of a property and is also charged with paying all registry feed and cadastral taxes, along with carrying out the relevant searches on a property.
For those who do not speak Italian, the documents must be drafted in both Italian and English.