House Hunting In Italy This Spring? Read This Before You Sign Anything

Spring is typically the season when people start dreaming about a property in Italy and begin scouting for their perfect home.
If that’s the case for you, too, there are a few things worth knowing before you sign anything, because some small details of the Italian buying process can easily catch buyers by surprise.

First of all, I always recommend reading the post about how estate agents work in Italy.

1. When you visit a property, agents will often ask you to sign a declaration confirming that you viewed the property through that specific agent on a particular date.
You can refuse to sign this document; however, it is generally fair to do so. By signing it, you acknowledge the agent’s involvement and confirm that you will pay their commission if you eventually purchase that property.
Please note that, in many cases, you may still owe a commission to that agent if you buy the property later, even after the agreement between the seller and the agent has expired. However, you do not owe the agent anything simply for viewing the property, and you do not owe a commission if you decide not to proceed with the purchase.

2. Signing an offer to buy is an entirely different matter.
I strongly recommend not signing any offer unless it has first been reviewed by a lawyer you trust or by someone with the appropriate expertise to advise you. Standard offers often do not include conditions that adequately protect the buyer.
By signing such an offer, you may be committing to purchase the property even if serious issues arise later. In addition, you will typically be committing to pay the deposit to the seller immediately and the agent’s commission shortly thereafter.
In other words, by signing a standard offer to buy, you may be committing a significant amount of money without any guarantee that the property is fully compliant or that the transaction will ultimately be completed.

3. Try not to worry too much about opening a bank account in Italy in order to complete the purchase and pay the price. You can transfer the funds directly from your foreign bank account to the notary’s account.

I hope these few tips are useful and help make the buying process smoother. If you are not very familiar with the buying process in Italy, I’d be delighted to assist; please feel free to get in touch anytime.

This article is not exhaustive, does not constitute legal advice and is a guidance only.

Barbara De Benedittis Relocation and Legal in Italy