The Buying Procedure:
Please note that we will guide you through you each step in order to simplify the procedure as much as possible. What follows is an idea of what to expect with regard to the bureaucracy. (Being a concise explanation we are readily available for further information.)
Preliminary contract (Preliminare):
Once a verbal agreement has been reached a preliminary contract of sale is drafted. This document certifies that the interested parties have agreed on a price and it details exactly what it is being purchased. This document is legally binding for both parties. At the moment of signing this contract a deposit is paid (usually not less than 10% of the purchase price).
Completion – contract of purchase (il rogito - Atto Pubblico):
In order for the ownership of the property to pass from vendor to purchaser there has to be a public document. This is an indispensable legal matter in Italy and has to be carried out by a Public Notary. The Notary stipulates this act and collects the taxes due on the transaction. The Notary is a government official who makes sure everything is in order for the sale to go ahead and makes sure that everyone understands what is being bought and sold having previously verified what taxes and dues, if any, have been paid or that burden the property. The document is signed and stamped by the parties and the Notary who will then register the new ownership. Upon signing the balance owed on the property is paid by the purchaser together with the taxes and the Notary fees.
Please note that we will guide you through you each step in order to simplify the procedure as much as possible. What follows is an idea of what to expect with regard to the bureaucracy. (Being a concise explanation we are readily available for further information.)
Preliminary contract (Preliminare):
Once a verbal agreement has been reached a preliminary contract of sale is drafted. This document certifies that the interested parties have agreed on a price and it details exactly what it is being purchased. This document is legally binding for both parties. At the moment of signing this contract a deposit is paid (usually not less than 10% of the purchase price).
Completion – contract of purchase (il rogito - Atto Pubblico):
In order for the ownership of the property to pass from vendor to purchaser there has to be a public document. This is an indispensable legal matter in Italy and has to be carried out by a Public Notary. The Notary stipulates this act and collects the taxes due on the transaction. The Notary is a government official who makes sure everything is in order for the sale to go ahead and makes sure that everyone understands what is being bought and sold having previously verified what taxes and dues, if any, have been paid or that burden the property. The document is signed and stamped by the parties and the Notary who will then register the new ownership. Upon signing the balance owed on the property is paid by the purchaser together with the taxes and the Notary fees.
