THE PURCHASING PROCESS
As we have already mentioned, buying a property in Italy is neither more or less difficult than in the UK, but the system is different. It is essential to be aware of the legal procedures. Below is a short explanation of the buying process:

PROPERTY SEARCH
Find the right house in the right location.

MAKE AN OFFER - “PROPOSTA D’ACQUISTO”
Once you have identified your dream property, together we will complete an offer, this is binding for a specified period, normally between seven and 15 days, and sets out the price and terms of your offer accompanied by a deposit usually in the form of a cheque. If the offer is not accepted, the contract is considered void and the deposit is returned.

PRELIMINARY CONTRACT - “COMPROMESSO”
Written in both Italian and your own language, the preliminary contract is a significant commitment and involves the payment of a further deposit towards the property as an act of goodwill. The purpose of this contract is to clarify all the conditions of the sale, including the price and terms of payment. Usually, when signing the preliminary contract, the purchaser will pay a deposit of about 20% of the established amount but this can be discussed or modified according to your needs.

NB As the buyer, you are in a position to impose conditions or restrictions on the vendor at this stage. If you are financing the purchase with a mortgage, you should clearly state that the purchase will only be completed subject to the confirmation from the financial institution or bank that the mortgage has been approved.

If the buyer does not go through with the purchase after signing the preliminary, they will lose the deposit that has been paid and may be be sued for damages by the vendor. If however, the deal does not proceed because of the vendor, then the buyer may not only be able to claim damages, but also may have the sale compulsorily completed by court order.

OBTAIN YOUR - "CODICE FISCALE"
Italian tax file number available from the provincial tax office. You will be asked to present this card for any number of transactions from buying electrical goods to opening a bank account. Registration is surprisingly simple and it is free of charge.

OPEN A BANK ACCOUNT
Italian bank accounts are available to foreigners whether resident or not, as long as you enter your bank of choice armed with your Codice Fiscale. You'll need to have a bank account as it will be necessary to transfer funds to your Italian bank account.You may want to consider setting up a foreign exchange trading account; doing so can save you a considerable amount of money when it comes to transferring your sterling over to euros in your Italian bank account. We can advise you on this.

COMPLETION DOCUMENT - “ROGITO”
The atto notarile is the final act, when the notaio witnesses the transfer of title from one party to another and collects the taxes due on the transaction. With all parties present he will identify them, one by one, and then read the rogito (completion document) in detail making sure that everyone understands what is being bought and sold. He will require proof that taxes and dues have been paid, and he has to have a visure ipotecarie to prove what, if an, mortgages or debts burden the property. You will need to be present to sign the documents in front of the notary and if you don't speak fluent Italian you'll be assisted by a qualified translator and the contract will be read out in both Italian and your own language. With all in agreement, the notaio will ask each party to sign before he signs and adds his official stamp to the document.It is at completion that you, as the buyer, must pay the remaining balance of the price of the property, plus the taxes and notaio fees. The vendor must also pay his taxes.

At this stage you are officially the lucky owner of a home in Italy.

POST COMPLETION - SETTLING IN
With completion out of the way, there are a few more bits of red tape to get through before you can start to relax in your new home. If you are taking up full residency in Italy there will be certain paperwork to prepare for your arrival in Italy. If your new Italian acquisition is to be a second home, then another set of rules apply.

Firstly, you need to register for refuse tax and ICI (annual property tax) at the local comune, payable annually. You will also need to set up or changeover utilities. Changing the name from an existing contract is fairly straightforward, its also possible to arrange for your bills to be paid via direct debit from your bank.

Please note: this is information based information provided to us by Italian notaries, "F.I.M.A.A." Federazione Italiana Mediatori Agenti d'Affari, the Italian Federation that represents Mediators and Estate Agents in Italy, and local officials. This information may be subject to change without notice and, while we try to keep this website up-to-date, procedures may also vary from area to area.