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How to buy a property in Italy: the Main Steps

How to buy in Italy? The list below covers the main steps you will go through when buying a property in Italy.
 
Codice fiscale
It is an identification code calculated on the basis of your surname, your names, the place of your birth and the date of your birth and which will be used any time you will need to deal with the Authorities. It is issued by the “Agenzia delle Entrate

Opening an Italian bank account
In the event of a purchase it is essential to open a bank account in Italy not only to transfer there the funds for the completion (as the final payment normally happens in Italian bankers drafts) but also to get the various utilities paid automatically

Formal offer of purchase – «proposta d’acquisto»
When a client, after having visited some properties, decides to go ahead and to buy one of those, the negotiation starts with an OFFER. The offer of purchase must be in writing with a check as down payment. Then, if the offer has been accepted it can be verbally communicated. Once the vendor signs it accepting the offered price this means that he undertakes not to sell the property to anybody else until a certain date. This letter is to protect the buyer from losing the opportunity to purchase.

Cadastral checks
Before going ahead would be better to investigate the title of the property at the “Land registry” (Conservatoria e Catasto). This would be useful to check that the property is regularly registered, that it belongs to the person who is undertaking to sell it and if there are loans on it

Preliminary Agreement of sale – «compromesso»
The Compromesso is drawn up and this is a legally-binding document which states the agreed sale price, the completion date (Rogito) and any information and rights the property has. The Rogito is then drafted and it is usually executed 1 to 3 months after the execution of the Compromesso,

Deed of Purchase – «rogito»
The deed of purchase, final contractor ‘atto notarile’ is usually signed afte the compromesso – which is not mandatory as the definitive contract can be immediate – and only when all the documentation is available. It is signed by both parties, the balance is paid and the property is officially transferred. Following completion, the notary issues a certified copy of the deed of sale and registers a certified copy of the deed with the Land Registry (Catasto).
Our Managing Partner, Niccolò Pigni, is an Italian native and a local expert. So, this is an incredible opportunity because we can help you throughout the entire process.

Contact

328 Healdsburg Ave. Ste. B Healdsburg, CA, 95448
(707) 331-4327
info@hutcheonpignigroup.com
Kim Hutcheon • DRE #01207046
Niccolo Pigni • DRE #02103177

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