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Buy a House in Italy - Step 1
By admin | June 9, 2008
The procedure for buying a house in Italy is not comparable with what you will be used to if you are from the United Kingdom, Eire, USA, Canada and most northern European countries. Basically, if Napoleon never invaded your homeland, the purchase of your Italian house will be a new experience. Here is the process in a nutshell. We will expand each area in detail in separate Posts and as this site develops with your questions and comments.
Proposta di Acquisto Irrevocabile
This document is a formal proposal to purchase. It is not an essential step but can be useful. Let’s say you have been on some form of inspection visit and have fallen in love with a particular property. You don’t have time to organise all the necessary resources to sign a Contratto Preliminare but you don’t want to lose the property. By signing a Proposta di Acquisto Irrevocabile you can gain the time you need.
This purchase proposal will usually be drawn up by the estate agent and will identify the buying and selling parties as well as the property in question. It will set out the price you are offering and the basic terms of the eventual agreement such as when the Contratto Preliminare will be signed and when completion will be. You will leave a goodwill payment, usually in the form of a cheque payable to The Vendor. The proposal will give the vendor a fixed date by which to accept your offer and if it is not accepted within that time the offer loses validity and your cheque will be returned to you. If your offer is accepted the vendor will cash your cheque and then you are both bound to proceed to the next stage.
The Proposta di Acquisto is without doubt the most satisfactory way of making an offer below the vendor’s asking price. Verbal enquiries as to what might be acceptable are not usually very effective. A written, binding offer with some money tends to concentrate the mind of any vendor.
Topics: Essential reading, The buying process |
June 4th, 2008 at 11:00 pm
I found your blog on MSN Search. Nice writing. I will check back to read more.
Eric Hundin
June 4th, 2008 at 11:00 pm
Where did you get your blog layout from? I’d like to get one like it for my blog.
June 4th, 2008 at 11:09 pm
[...] Italian purchasing procedure [...]
June 10th, 2008 at 12:19 pm
Thanks for the positive comments. Mike we are emailing you the information you requested.
June 26th, 2008 at 12:18 pm
helpful , clear, easy to read. useful site.
June 27th, 2008 at 12:56 am
always tricky to find good advice on overseas property without being told porky pies, thanks for the informative content! Sarah
June 28th, 2008 at 7:35 pm
Better this website without the money to buy, than the money without the website…
August 16th, 2008 at 6:41 am
Your blog is interesting!
Keep up the good work!