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Piemonte Property Home Buyer's Guide

It's essential you get help when you buy- Piemonte Property will assist you all the way.

 

Finance & Mortgages

To avoid disappointment it may be worth getting finances in place before you start looking for houses, especially if you’re going to finance with a mortgage. Piemonte Property can suggest a excellent consultant here in Italy. Contact us for more information.

Viewing Houses

We strive hard not to waste your time or ours by showing you homes with the agent that don't suit your requirements. It's much better to have good open communication first so we know just what you want, and don't want!

Found & Checked!!
Now you have found your new house, it would be wise to have it checked. We can arrange a local professional to check the property for you to ensure there are no issues. They don't charge much and always do a good job. The notary will check legal matters.

 

The Compromesso (first contract)

Okay, you‘ve put in an offer and the owner accepts. The sale starts with a preliminary contract – the compromesso. A straight forward contract that binds the buyer into buying and the seller into selling. (We will provide an English translation).

Once signed, the compromesso binds both you and the seller to the sale. At this stage you are expected to pay, within 10 days, a deposit (caparra) – this is usually 10% of the sale price of the house.

If you pull out after signing the compromesso you lose your deposit and commission payment. If the owner pulls out they have to pay you double the deposit. The compromesso is prepared by the estate agent (Agenzia Immobiliare). Once the compromesso is signed and the deposit is paid you pay the agent's commission.

Money Transfer. Exchange
Something that can dramatically increase or decrease the overall cost of your purchase is money exchange - when you have to exchange your currency (for example UK Pounds or US Dollars into Euros). Property has to be paid for within a cheque from an Italian bank.

The rates high street banks offer aren’t always best and there can be hidden charges. Specialist exchange companies usually offer the best rates, lowest costs (if any) and are very efficient and helpful.

Grinzane Cavour - photo by Richard Edwards Piemonte Property 2010. PIEMONTE PROPERTY specialise in quality houses for sale in Piedmont Italy. Buy  a home in Piedmont, buyer advice. How to buy a home in Asti, Alba, Langa, Monferrato.

 

The Final Contract

The final deed is drawn up by the Notary (Notaio). The notary is a lawyer, a public official. Italian law states that a notary has to witness a deed of sale for it to be registered with the land registry. He or she will also make many checks: that the house is free of mortgages, that the property complies with planning rules (that nothing has been built illegally), that the due tax is paid, that the house is owned by the people that are selling it, etc. We always use the same notaries. These are trusted solicitors that are thorough in their work.

The buyer, seller and Estate Agent need to be present for the signing at the notary's office. We’ll be there to translate the whole proceeding, we’ll have the deed for you in English (there is an extra cost if you are buying with a mortgage and the bank requires you have a translation). The process lasts around an hour - two hours if you have a mortgage.

You now own a house in Italy! The whole process from viewing to owning can take as little as 4 weeks if you wish.

We will be working for you so you can be assured of our full support.

 

The Cost of Buying

An estimate for purchase tax and notary costs can be done on any property. As a rough guideline add 10% to the sale price of the property. Please speak to us for more information about this aspect of the buying process.

 

For more information - see: Frequently Asked Questions