Property in Italy

The deposit will be refunded if the buyer refuses to buy into established a seven-day period. This amount will be refunded without penalty or compensation. The next phase is removed from advertising for sale, and secured the buyer. Next is a preliminary contract (Compromesso), which shows information about the participants of the contract, description and price of property, payment methods, date of signing the final contract and any other conditions that may apply to the contract will be listed in a legally binding private contract between two parties. In this contract the full price to be paid for the property. Need to draw up a contract with an expert (a notary public, lawyer or real estate consultant) who will check the ownership and make sure that there are no loans or seizure of property rights and other barriers, such as pre-emptive rights to the property, it is namely the property, which is offered for sale, and that all permits and certificates for the building in order.

The seller must provide the buyer some assurance about the availability of the property, confirming that it complies with current building regulations and that all taxes are paid. The purchaser must confirm their intentions in that place a deposit account 10-20% of the transaction, which becomes a binding deposit called 'caparra confirmatoria'. Notary in Italy is not acting in the interests of any of the parties, and is an official representing the interests of the state. In addition, in some cases by appointment through his bank account transaction takes place and the settlements on the transaction.