Selling a property in Italy
can sometimes be a difficult process and seeking advice from an Italian lawyer
is recommended. The sale of a property
involves an agreement signed by both the seller and the buyer that protects them from possible risks. After the preliminary contract
, a notary has to legalize the document.
Obligations of the Italian property seller
As the owner of the property, you will have to meet some requirements if you wish to sell your property in a clean and quick way:
• provide all the information about the property and its legal and administrative situation;
• keep the property in a most presentable condition;
• ensure all the property's documentation is in order, as well as its premises before putting it out for sale.
Our lawyers in Italy
can advise you in these matters and make sure that your best interests are being looked after in your selling process
Negotiation stage in selling an Italian property
After a potential buyer has made his/her choice, usually a first legally binding paper (reservation offer) is signed by both you and the potential purchaser. A small deposit will be paid to you and the signed deed has the purpose of taking the property off the Italian market.
At this stage, the buyer will usually carry out surveys and check the building's regulations or other legal issues related to the property. He/she will want to make sure that there are no mortgages nor any third parties entitled to the property, that it complies with all planning regulations and also that the seller has complied with all tax regulations etc.
After all these aspects have been settled, the preliminary contract ("compromesso") can be signed. The seller must state that full disclosure is given with regard to the building and that the enquiries raised by the purchaser have been answered in truth. A deposit is then usually paid, the sum being between 10% and 30% of the whole price of the property.
Signing the final contract of selling the property in Italy
By law, the seller has the obligation to come with a certificate of habitability which is provided by the local Town Hall in order to confirm that the property complies with the Italian law and with all relevant safety and health regulations. Then the legal title of the seller's real estate is transferred to the buyer at a local notary. The notary has to draft the deed of sale and ensure its correct execution.