This is not the usual article about buying house in Italy. Why? Because I am not here to sell anything. I work with companies investing in Italy, I don’t run a real estate agency, however in the years many of my clients felt in love with the country, or just decided to buy an Italian real estate to resell and make a profit. They usually try to purchase the house by themselves, and I get countless complains about the difficult process, dishonest sellers, expensive notaries, and so on.
After they hit the first obstacle (or the second, or the third) they tend to call the first lawyer they meet in Italy. Me. I don’t sell real estate but I had a chance to help in so many cases that I can make a list of the most common problems and how to solve them. Plus I have developed a couple of innovative solutions specifically aimed to non Italian buyers.
The most common mistake people make when buying a house in Italy
The most common mistake many people make when buying a real estate abroad is to assume that the rules are the same everywhere, and that they are quite simple: you pay for something, you get it. This is never true, and in Italy this is especially false for buyers coming from USA, England and other common law countries.
Bad news: the process to buy a house in Italy could be a bureaucratic nightmare.
Good news: once you understand the process, you can outsource the biggest part of it to locals, and manage part of the purchase online. Moreover, the extra bureaucracy makes your purchase safer than other countries, including – in my opinion – USA and UK.
Thus the first question you should ask to yourself is maybe obvious but usually undervalued:
“Do you really understand how the process to buy a house works IN ITALY?”
For instance, in many countries you sign a contract, pay and get the house. In Italy you will be required to sign a contract in front of a notary public, but you don’t get the house unless you sign AGAIN and in a different day a second contract in front of another notary public. If you are confused, you are in good company. I am a lawyer and I still don’t understand the reason behind that. But we are here to understand how it works – not why – so I have shared a Step By Step Guide To Purchase A House In Italy.(coming in the next days)
If you find it useful, please write a comment below the post. And feel free to ask your question – again – in the comments below. I will read them all, promise!
Usual disclaimer: I can’t stress enough that these posts are suggestions, not legal advices. A serious legal support cannot be general, in fact it should be provided on a case by case basis. Moreover law changes from time to time. In short, check with a local source before paying any money or signing any contract. And never rely on one source only, including … me
Image credits: Nursingtimes.net