5 September, 2024

The Italian Property Buying Process: What to Expect

Purchasing property in Italy involves several steps and legal procedures. Here’s a comprehensive guide to help you navigate the process.

Research and Property Search: Begin by researching regions and cities to identify where you want to buy property. Engage with local real estate agents to find suitable properties.

Property Inspection: Schedule visits to inspect potential properties. Evaluate their condition, location, and surrounding infrastructure. Hiring a surveyor for a thorough inspection is advisable.

Legal and Financial Advice: Seek advice from professionals specializing in Italian real estate. A notary (notaio) will be essential in ensuring all legal requirements are met. Consult a tax advisor to understand the tax implications of your purchase.

Making an Offer: When you find the right property, make an offer to the seller. Once the offer is accepted, a preliminary contract (compromesso) is signed, and a deposit (usually 10-20% of the purchase price) is paid.

Due Diligence: Between signing the preliminary contract and the final deed (atto di vendita), perform due diligence. Verify property ownership, check for liens or encumbrances, and ensure compliance with local regulations.

Finalizing the Purchase: The final deed is signed in the presence of a notary. The remaining balance of the purchase price is paid, and ownership is transferred. The notary registers the deed with the local land registry, completing the process.

Post-Purchase Considerations: After purchasing the property, consider property taxes, insurance, and maintenance. Plan accordingly to manage your new property effectively.