Buying a Property in Italy

Buying property in Italy is different from the UK and the US, and the same terms can mean different things. It is wise to hire a solicitor in the UK as well as the Italian solicitor who handles the deal – the notaio. When you first offer on a property to an agent you will probably have to pay a small holding deposit, and it is worth stating that your offer depends on the property meeting certain conditions.

A notaio is a public notary, and you may also need an avvocato (like a solicitor). The notaio’s fee is fixed according to the sale price, and he carries out checks such as local search, planning permissions, title deeds, rights of access, and registers the property for tax purposes. As the notaio is not acting for you an avoccato is useful to handle your side of the sale, and he can give you advice, where a notaio cannot.

In Italy a geometra is part-architect, part-surveyor who does surveyor checks plus a bit more!

When your offer is accepted by the vendor, it is formalized with a compromesso, with agreements on terms and conditions, usually prepared by the real estate agent. Getting a solicitor (avvocato) to check this is a wise move. When you sign you will have to pay a deposit of around 5-10% of the purchase price. The compromesso is legally binding.

The final stage of the sale is the signing of the deed of sale – the rogito. This is like completion in the UK.

It is worth knowing that in Italy there is principle of prelazione, which allows neighbours adjoining the land first right of refusal on buying the property at asking price. Once the compromesso is signed neighbours have 30 days to match your offer.

There is also a custom in Italy to under-declare the price paid for real estate, as taxes and the notaio’s fees are calculated on the declared price. The notary would of course know the real price of the property, but would come to an arrangement with you. Remember, things are different in Italy, although the practice is fading away.

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