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At first, the Law Centre will contact our clients either by phone or by e-mail or alternatively will arrange a private meeting to explain the different stages in buying a property in Italy.
- We make sure that the property our client intends to purchase meets all the necessary sale requirements (planning permission, mortgage, etc);
When it is considered necessary, or at the client’s request, Magaraggia & Co. will arrange for a surveyor, an engineer or an architect, to carry out a full survey of the property in order to verify and certify that the building is both stable and satisfies the planning permission laws which are in force in Italy;
- Checks are carried out to ensure that the required authorization for building exists;
- Once it has been verified that all the conditions have been satisfied for a valid purchase, the Italian Property Law Centre will draw up a preliminary contract of sale, which protects the interests of the buyer. The contract is a serious legal commitment to concluding the sale. It is drawn up in English and in Italian, or in the mother tongue of the Client, so that the buyer can understand the details and the terms of the agreement in the contract. When the buyer signs the preliminary contract, he pays to the vendor a deposit, which can vary from 10% to 35% of the total value of the real estate .
- The public act of the bill of sale of real estate is the final contract, and this is drawn up by a Notary (public official), whose presence is necessary for the signing of the contract. It should be pointed out that the Notary’s fees and state taxes (for the transfer of the property) are separate and are not included in any fees paid to Magaraggia & Co.
- Once the buyer has signed the final contract he/she finally becomes the owner of the property. The signing of the contract by both parties in the presence of the Notary is done within a time limit which has been agreed on by both parties in the preliminary contract. Clients can choose the Notary themselves or alternatively the Italian Property Law Centre can assist them in their choice.
- The final contract will also be drawn up in Italian and in English (or in the mother tongue of the buyer) by an interpreter specifically chosen by the Notary. The interpreter will be present at the moment of signing the contract and will read it to the buyer.
- The Italian Property Law Centre offers to represent the client if the client cannot be present in Italy at the moment of signing the contract. In this case the buyer can confer power of attorney by means of the Italian Embassy in his/her country of residence
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