Buying Process

The Italian legal system attributes to a Notary (Notaio) a predominant role in drafting the purchase agreement of land or buildings. He is a state-appointed lawyer who guarantees the correctness and legality of the process. Therefore It is usually not necessary to hire your own lawyer when buying a property in Italy.

After making an offer for your required property you agree a purchase price with the seller.

A preliminary contract (compromesso) is the document whereby the parties agree in writing to enter into a future final real property purchase agreement. The Compromesso is a legally binding contract between the buyer and the seller which commits both to the transfer of the property. This document includes the description of the property, the agreed purchase price, the deposit amount and the final contract date.

The seller demands the payment of a security deposit (caparra confirmatoria). It is a down-payment of the purchase price (a minimum of ten per cent) made by the buyer upon the signing of the preliminary contract. If the buyer refuses to enter into the final agreement, the deposit will be forfeited, whereas if the seller refuses he is obliged to pay double the amount deposited by the buyer.

The final purchase deed (rogito) is the binding contract by which the property is legally transferred from the seller to the buyer. The deed will be drafted by a Notary. He registers the Rogito to the Land Registry, collects the Purchase Tax due on the property and ensures there is sufficient proof that the buyer is able to pay the sale price. Upon signing the deed, the buyer will present a personal identification document and an Italian “Codice Fiscale” (taxation code) or a “Partita IVA” (VAT number) if the property will be used for business activity. These fiscal documents are issued by the taxation authorities of the area (Ufficio dell’Agenzia delle Entrate).