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By In Italian law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

Buying a property in Italy: real estate commission rates (fees)

Real estate commission rates (fees) and payment schedules

When planning to purchase a property in Italy, you would usually seek the assistance of a licensed real estate broker for the initial property search.  The real estate broker has the duty to facilitate the transaction and to inform both the seller and the buyer of all details and aspects which may be relevant.

Buying a property in Italy: real estate commission rates (fees)

Real Estate Agent’s Commission

As in most countries, Italian real estate agents’ commission (provvigione) varies. In Italy, commission payment to a realtor is usually shared between the vendor and buyer. According to art. 1755, paragraph 1 of the Italian Civil Code, commission is paid once, due to the assistance of the estate agent, the sale has been complete. Legally, an estate agent must be the effective cause of the sale. This means that the agent must be able to show that their ‘introduction’ of the buyer led to the formation of a deed of sale between the vendor and buyer.

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By In Italian law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Off-Plan Property, Property law, Real Estate Law

Building contracts in Italy: all liabilities and duties you should consider

Building contracts in Italy: liabilities of the contractor for building works

Whether you are building a new property in Italy, or renovating an existing Italian property, having the right building contract is vital to ensure that everyone involved knows their rights and responsibilities. A building contract constitutes a legally binding agreement, recorded in written form between two parties; one or more property owners and one or more contractors.

building contracts in Italy

A building contract sets forth all the terms and conditions under which construction or renovation work is to be carried out. This includes, but is not limited to, the basis of remuneration, time scale, and penalties, if any, for failure to comply with the terms of the contract.

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By In Italian law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

Married couple buying a house under one name in Italy: applicable financial regime.

In Italy spouses can chose between two default[1] matrimonial financial regimes: community of properties/assets (comunione dei beni) and separation of property regime (separazione dei beni).

Married couple buying a house under one name
Married couple buying a house

If no matrimonial regime option is expressly made by both spouses through a notarial deed or upon marriage celebration, Italian married couples’ finances and assets are regulated under the community of property regime.

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By In Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

Certificate of habitability (certificato di abitabilità)

A certificate of habitability (certificato di abitabilità) confirms a property’s compliance with safety and sanitation rules, the efficiency of the property’s systems and that the property complies with building regulations and planning permission.

Certificate of Habitability (certificato di abitabilità)

Recently the certificate of habitability has been replaced by what could be as certificate of habitability report, which should include the following documents:

  1. Report from building works manager;
  2. Certification of structural soundness;
  3. Cadastral update;
  4. Systems compliance;
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By In Italian law, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

Italian real estate agents lack legal skills

Make sure to read this, prior to signing any property purchase offer in Italy

You’ve seen it: the Italian property you’ve always dreamt about.

Now you have a pen in your hand and the property purchase proposal in front of you, ready to be signed.

Take your time before putting pen to paper, no matter who drafted that proposal for you.

Italian real estate agents lack legal skills

You deserve a little hesitation, especially if you are going to sign a boilerplate template provided by a Real Estate Agent and not by your own legal advisor, or if there is anything whatsoever that you feel is unclear to you.

If the proposal has been provided by Real Estate Agents, I am sure they told you that it’s a standard proposal, drafted as per common general terms and in compliance with the Italian civil code; and that the standard template itself has been approved by the Chamber of Commerce.

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By In Inheritance Law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property

Differences between Italian Notaries’ legal advice and independent lawyer’s legal advice when buying a property in Italy

Property transactions where one of the parties is not an Italian individual, cannot be considered as a normal scenario. The involved professionals are not always experienced to deal with these cases.

Fact: In Italy you cannot buy a property without the assistance of an Italian Notary Public.

Italian Notaries

By law, a Notary Public must remain impartial during the property transaction. A Notary can also provide legal advice if requested but must maintain impartiality when providing parties with legal advice . Read this article for further information about Italian Notary Public role.

There is no legal obligation to engage the services of an independent lawyer for property purchases in Italy. And, normally Italian individuals do not hire an independent lawyer for property transactions between themselves.

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By In Inheritance, Inheritance Law, Italian law, Italian Property, Italian Real Estate, Italian Will, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

An Italian Notary Public’s Escrow Account Is The Safest Way To Manage Property Purchase Payments in Italy

Escrow account

In Italy only an Italian Notary Public’s escrow account benefits from full and complete legal protection against possible creditors.

There are two main payments you are expected to make when buying a property in Italy,or that you will receive, if you are selling an Italian property; the deposit and the balance.

The deposit is usually paid upon purchase offer acceptance and it is aimed at confirming the parties’ intention to proceed with the purchase-sale contract. The balance is customarily paid upon closing, unless otherwise agreed.

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By In Italian law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

Can I Back Out of A Preliminary Contract?

Can I Back Out of A Preliminary Contract?

You’ve signed a preliminary contract on a property. You rather rushed in to it because you didn’t want to miss out on what you thought was a great Back Outopportunity. It’s long been your dream to own a penthouse in the centre of Rome and when you saw this apartment, you just had to have it.

However, in hindsight and after viewing the apartment again, you realise the penthouse isn’t as big as you thought. When you first saw the place, you could see potential to extend in to the roof space, but you now doubt that the municipality will grant permission to convert the space. Besides, you recognise that even if your planning application is accepted, it’s going to be prohibitively expensive. The date for signing the deed of sale is looming. What can you do? (more…)

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By In Italian law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

Property Selling Guide

This property selling guide focuses on the issues that a seller may encounter during an Italian property conveyance.

When selling an Italian property, there are some legal issues which should be seriously considered. Due to the language barrier and differences in property sellinglegal systems, real estate transactions in Italy can appear as a difficult and protracted process for foreign investors. The Italian legal process is obviously technical and might expose you to some risks. Considering the interests at stake in a real estate transaction, it is advisable that you seek the assistance of a qualified bilingual legal advisor, who has the competence to guide you through the process and advise on potential risks. (more…)

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By In Italian law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

Property Buying Guide

This article aims to cover key elements of the Italian purchasing process.property buying

For a more in-depth explanation, you may wish to read our comprehensive guide to buying property in Italy.

The purchase of a property in Italy proceeds through 3 key stages:

  • Proposta irrevocabile d’acquisto (Reservation offer)
  • Contratto preliminare di vendita (Preliminary contract)
  • Atto di vendita (Deed of sale)

Once you have chosen your property you should engage the services of a solicitor, whether you buy through a real estate agent or directly from the vendor. The knowledge that an Italian solicitor has about Italian real estate law is invaluable – plus, your own solicitor is there exclusively to look after your interests. (more…)

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