Italian Property Law
LEGALITIES - Easy steps to Italian property purchase
Once you have found a property that you would like to purchase then this is what you can expect to happen, in brief, with regard to the legalities:
The first written step in the negotiations is the offer to purchase, by which the buyer will bind himself irrevocably for the period of the validity of the offer to buy the property at a particular price. This offer is normally valid for 14 or 30 days. When the offer has been accepted by the buyer a 10% deposit is paid.
The next stage is the preliminary contract of sale (compromesso). This is the contract by which the interested parties agree in writing on the formalities of the sale, the date by which the completion (il rogito) must be entered into and the name of the Italian notary that will execute the deed. At this stage there is normally another payment of between 20/30%.
The completion ( il rogito) is the definitive passage of the title to the property from the vendor to the buyer by a public document, or by a private contract authenticated by a notary for the purpose of registration.
In the case of purchase of a property from a private citizen, the buyer must pay a registration impost and a land registry tax. If a property is bought from a company, instead of land registry tax IVA (VAT) is normally payable.
NOTICE
Please note that Andiamo Homes Ltd themselves and the owner(s) of the properties featured give notice that:
These details are issued on the strict understanding that all negotiations are conducted through Andiamo Homes Ltd, their representatives or agents, and that in the event of any party contracting to purchase a property as a result of information contained herein, or otherwise supplied by us or our local associates. they will pay our commission where not allowed for in the purchase price or an introductory fee of the same amount.
The details given do not constitute, or constitute part of, an offer or contract.
All statements contained herein as to the various properties are made without responsibility on the part of Andiamo Homes Ltd, their representatives or vendors.
None of the statements contained herein is to be relied on as statement or representation of fact.
Any intending purchaser must satisfy himself/herself by inspection or otherwise as to the correctness of each of the statements contained herein.
The vendors do not make or give, neither does Andiamo Homes Ltd nor any person in the employment make or give, any representation or warranty in relation to any of the properties featured herein.
All properties are offered subject to being unsold.
All prices quoted are correct at the time of going to press but are subject to change without notice.
No liability can be accepted for 'wasted' journeys before or during purchase.
