Buying property abroad can be fraught with pitfalls. IB International Real Estate experts share professional advice on how to prepare for the purchase of your dream home in Italy.
Once you have found a property that you wish to purchase, it’s a good idea to bring in an architect or engineer to do a professional assessment of the state of the property as well as the floor plans to make sure they are in compliance.
While there is no official property inspection during the purchase process in Italy, it is very common for buyers to get their assessment done just before making an offer and most sellers will agree to this.
Attainment of a ‘Codice Fiscale’ (individual tax code)
If you don’t already have one, you will need to apply for a ‘codice fiscale’ which is a personal tax identification number. This can be obtained from L’Agenzia delle Entrate, Italy’s national tax agency.
Selection of a ‘Notaio’ (Notary / Lawyer)
In a property sale, the buyer chooses which notary they will use for the sale. The notary operates under a strict code of conduct and is a registered officer of the Italian state. It is a good idea to find a notary early so that they can begin working on all the necessary documents.
If you don’t speak Italian, it is advisable to find a notary who speaks some English. It is also worth bearing in mind that if you don’t speak Italian then it will be necessary to have the ‘Atto Notarile’ (Act of Sale) officially translated into English. In addition to this, it may also be necessary to have an official licensed live translator during the ‘Atto Notarile’.
Contact the IB International Real Estate team for free professional advice and expert property finding services for buyers.