Buying In Italy FAQ
1. I’m not an Italian citizen, can I buy a property in Italy?
Yes, you can, as long as Italians are allowed to buy property in your country. This is known as reciprocity.
2. Do I need an Italian bank account to move money and buy a property in Italy?
No, you don’t necessarily need it; you can transfer money from your foreign bank account directly to the notary’s account.
3. Shall I pay a deposit to secure the property I wish to buy?
Usually, a deposit is paid when making an offer to buy; however, according to the specific situation, you may be able to pay the deposit into the notary’s account, instead of the seller’s or agent’s account.
4. Do I need an Italian fiscal code to buy a property in Italy?
Yes, absolutely. You must obtain one before signing the final purchase contract, since your fiscal code must be included in that contract.
5. How long does it take to become the owner of a property once I submit an offer to buy?
It may take many months, depending on whether the property’s documents are in order or not.
6. When can I move into my new property?
Keys are exchanged on the day the purchase contract is signed, so you can move into your new home immediately.
7. Are properties usually sold furnished?
Usually not. Most properties are sold unfurnished, often even kitchens are not included. Occasionally, or on request, properties are sold fully furnished.
8. I asked my agent to show me a number of properties I found on the most popular Italian property websites, but they are not showing me all of them, why?
This may be because agents in Italy can typically only sell properties that are in their own portfolio, and not everything listed on the market. Some agents make agreements with other agents to have a shared pool of properties, and split the commission from any resulting sales. If your agent is not showing you a specific property, it might be because they couldn’t reach an agreement with the agent who holds the property in their portfolio. In such cases, your agent wouldn’t earn any commission from the sale of that property, which is likely why they are not showing you that property.
To explore all options, you may want to contact the listing agents of each property directly.
9. Do properties for sale have a home inspection report paid by the seller?
Nope, home inspections are not common practice in Italy. If you want one, you need to arrange and pay for it yourself.
10. Do I need a lawyer to assist me in the buying process?
Nope, technically you don’t need a lawyer. In theory, the real estate agent should represent the interests of both parties – seller and buyer -. However, in practice, they tend to prioritize the interests of the seller, therefore, if you are not familiar with the buying process in Italy, don’t speak fluent Italian, or aren’t well versed in local customs and don’t have knowledge of Italian law, it’s highly recommended that you have a lawyer by your side.
If you have additional questions, please let me know, I’ll be happy to answer all those in another post.
This article is not exhaustive and is a guidance only.
If you need assistance with buying a property in Italy, please do get in touch.
Barbara De Benedittis Relocation and Legal in Italy
