"The Easy Way to Get Your Best UK Mortgage" |
|
|
|
|
|
|
||||||
|
|
Things To Check When Buying Property In Italy
The
Italian property buying process provides considerable protection
to the buyer and problems are relatively rare. You are only
likely to encounter any problems if you do not protect yourself
by hiring your own Italian surveyor and solicitor
to check the property thoroughly.
That said, there are a few scenarios where you may risk losing
the property after the Compromesso has been signed.
These situations won't apply to most buyers, but if you know about them in advance then you will recognise whether they might apply to your property:
- If
the property you are buying has sitting tenants
or is used to run a business, check whether
the people involved will make any claim on the property
- this can happen.
- In
Italian wills, properties are often left equally to several
brothers and sisters, all of whom then own a share. If you
are buying such a property, make
sure every one of the vendors signs the Compromesso
- otherwise one of them could pull out and stop the whole
sale.
- Prelazione
- this is only relevant to properties with land in agricultural
areas. What it means is that neighbouring farmers will have
first refusal on the property you are buying. Once you have
signed the Compromesso, they will have 30 days
to match your offer. There is nothing you can do to prevent
this.
The purpose of this policy is to help farmers expand their farms and to prevent the continued sub-division of farming land, which makes it less productive.
Caparra - the deposit paid when the Compromesso is signed.
Codice Fiscale - Italian tax code, required for purchasing an Italian property
Compromesso - Preliminary purchase contract (binding)
Contratto Preliminare - Same as Compromesso
Geometra - Italian surveyor
Imposta - Tax (anything beginning with Imposta is probably a tax or charge, payable when the sale completes)
Notaio - Notary Public - a government solicitor employed to conduct the sale
Prelazione - the right in agricultural areas for farmers to buy their neighbours' properties, overriding other offers
Proposta irrevocabile d'acquisto - Reservation contract, taken out to reserve a property until the Compromesso is ready
Rogito - the final stage of a property sale, like exchange and completion in the UK
Scrittura Private Autentica - Deeds of sale
Ufficio dei Pubblici Registri Immobiliari - Italian Land Registry
Valore Catastale - local tax, payable on purchase
Read On
•
Introduction
• Buying A Property In Italy – 4 Easy Steps
• Should I Get A UK or Italian Mortgage?
• Getting A Mortgage In Italy
• Other Things To Check When Buying In Italy
• Glossary of Important Italian Property Terms
Buying Overseas Property and Mortgages
Read enough? Just want a quote? To get your best mortgage quote quickly and easily we can put you in contact with a recommended mortgage adviser. It's free, completely confidential and there's no obligation at all. Simply fill out the form below
