How Can An English-Speaking Italian Property Lawyer Advise with The Purchase of A Property in Italy?
I am quite surprised when I hear people say that consulting an English-speaking Italian property lawyer when buying property in Italy is unnecessary, even a waste of money. Buying a home anywhere, including Italy, is probably one of the largest and most significant purchases you will make in your life.
It involves the law of Italian real estate property, which is complex and raises special issues of practice, and problems not present in other transactions and or jurisdictions. An Italian real estate attorney is a trained legal specialist, experienced at dealing with these problems.
Briefly, in the typical Italian home purchase, the buyer enters into a brokerage contract with a real estate agent, usually in writing. Negotiations with the vendor are conducted through the broker, who most often acts as an intermediary. Once an informal agreement is reached, buyer and seller enter into a formal written contract for the sale, the purchase agreement. The buyer pays deposits. Ownership is ascertained, titles, deeds and other due diligence needs to be undertaken. Finally, the property is transferred from the seller to the buyer, and the seller receives the purchase price stipulated in the contract. (more…)