What is the process for buying property in Italy?
Firstly, once you have reached verbal agreement on a property purchase the compromesso or contratto preliminare di vendita is drawn up. This document sets out what has been agreed between buyer and seller and on signing the buyer pays a deposit, typically 10% of the agreed sale price, but it can be as much as 30%; the deal is now binding. The document states that the seller is required to sell the stated property at the stated price to you, the stated buyer, under the terms and conditions set out. It also binds the buyer to buy and if you change your mind you lose your deposit. If the seller backs out he is liable to pay you double the deposit. This acts as a great deterrent against gazumping and is taken very seriously by Italian sellers; once the contract is signed and the deposit transferred it is almost unheard of for anyone to back out. With The Property Finders on your side you can be sure that when selecting a property from those short-listed we will have thoroughly examined eac
