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Buying in Italy in 5 steps

What does an Italian or foreign citizen have to do to buy a property in Italy? Below we have given a brief summary of the procedure to follow and all the steps to know what to expect once you have identified the property you want to purchase.
1

 

FISCAL CODE

To buy a property in Italy both Italian and foreign citizerns must have a Tax Code which is issued by the Revenue Agency. The application request in order to have this tax code, upon delegation of the customer, is one of the services offered by our agency

2

 

PURCHASE PROPOSAL

The buyer presents a purchase proposal to the seller through the agency, which defines the price and the subsequent steps in which it will proceed to the stipulation of the preliminary and final acts.

 

3

COMPROMISE

The preliminary sale or Compromise is a private contract, legally binding, between the seller and the buyer in which the Seller is bound and obliged to sell to the Purchaser who is bound and obliged to purchase the property for an agreed price on a date that is specified in the contract.

 

4

THE DEPOSIT

A 20% "Deposit" is normally required at the signing of the Compromise. The rest of the balance is required at the moment of signing the Final Contract. A clause in the Compromise will contain the final date by which the deed will be signed and this is legally binding.

5

 

THE DEED

The seller must guarantee that the property will be free from restrictions and any mortgage or encumbrance at the time of deal and must produce, at his/her own expense, all documents required by the Notary for the completion of the sale, including the town planning compliance. In the text of the deal there will be a complete description of the property, its position, the district it belongs to and the land registry information, including the Sheet N. and the list of the units.

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