7 July 2014

The Purchase Process of Italian Real Estate

The purchase process of an Italian property is safe and simple, as long as you put your trust in the hands of competent, ethical professionals.

In addition to our property selection services, we will also support you with our team of lawyers and accountants that work specifically in international transactions, who are ready to work for you.

The purchase process happens through a matter of phases, most commonly beginning with the letter of intent.

It is in this letter that the purchaser proposes to buy the property under certain conditions. The proposal is accepted from the moment that the seller signs the offer, receiving a deposit made by the purchaser which is generally 5% of the purchase price.

There is a preliminary contract prior to the final deed of sale that is legally binding and establishes the conditions of the sale, checking that the property has all of the technical and legal characteristics to be sold. At this time, the purchaser makes a second deposit.

Then comes the final deed (rogito finale), that is signed in front of a public notary who ensures the validity of the sale. This step establishes the definite transfer of ownership of the property.

Please note however, that these steps may change depending on the property, the offer, etc and may go directly to the final deed of sale.

In Italy, unlike other countries, there are taxes that are to be paid at the time of purchase. There are other annual taxes as well, but they are minimal and vary from municipality to municipality.

We are here with our team of experts to support you through each step of this process, making the entirety of the process as simple and efficient as possible.

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