Buying a property in Italy...... Our agent provided the following description when purchasing a property through his agency. Please note this article is published as a guide-line only. Please ensure you take the appropriate legal advice when purchasing a property.

There are 3 main steps:

Step 1) Ok - so you have found a property to buy! If you wish to secure the property, you  have to make a deposit corresponding to 5% of the agreed price for the property. (For foreign clients we usually ask for a money transfer in the Estate Agency account). After this deposit the house is considered sold.

Step 2) After approximately15 days a preliminary contract (a private agreement between the owner and the purchaser) is signed. In the case of English clients, who can come to Italy, we sign 2 copies of the agreement in our office with the owner and buyer. Both the parties sign the copy of the agreement. A date* is agreed for the signing of the final purchasing deed (see step 3), and a payment schedule is agreed. If the purchaser cannot come to Italy for the agreement, we send by e-mail the original copy, written in both Italian and a copy translated into English. The purchaser has to print the Italian copy of the agreement and sign it. Send the signed agreement by fax and and the signed copy must also be sent by airmail. At this time, the purchaser must make a money transfer of 25% of the purchasing price . (The agency will call the owner to the office and will pay him the sum corresponding to 30% /( 5% deposit + 25% at the signing of the agreement) The vendor signs the agreement.

The agent books an appointment with the notary for the final signing of the Purchasing Deed. The *date is as agreed in Step 2.

Step 3) Final Purchasing deed. Before this date the notary checks the Land Register, checks there are no outstanding mortgages or debts, checks rights in the land etcetera... The Notary, is a representative of the Government and is independent of the vendor and buyer. As he represents the Law, the Notary will NOT allow the Deed to be signed if everything is not correct.