Buying a property in Italy: what you should know

Many people dream about buying a holiday home in Italy or a second home. This beautiful Mediterranean country offers a wide range of properties surrounded by beautiful landscapes in the countryside, or houses located close to beaches, but it is possible to buy a flat in a major Italian city. This choice is preferred by those who want to discover the incredible, rich history and fine arts of this country.

If you are interested in buying a home in Italy, you should know how the purchasing process works.

Identify your motivations for buying a home

Before delving into how the process of buying a house in Italy works, it is important to be clear about the motivations for buying. Asking yourself why you want to buy a holiday home in this country, it is a good starting point to choose the best solution for your needs and budget. For example, if you are looking for real estate for sale in Tuscany, you have different options open to you: buy a home to spend pleasant holidays with your family or purchase it to have a rental investment or start a business, such as a guest house.

Purchasing process to buy a home in Italy: how it works

The purchasing process for buying a home in Italy usually lasts six months. This deadline is useful to know in order to plan everything sensibly, however there may be some exceptions and the process may even require more or less time.

For example, you can start six months in advance looking for a house to buy and choosing a team of experts in this field, such as an estate agent, a legal and a financial advisor. At this point, you should look for the best solutions according to your expectations and budget.

Five months to go, while you are still evaluating the proposals, you have to open an Italian bank account and get your own “Codice Fiscale”. Both are compulsory to buy a home in Italy, and the latter is an identification number used for many transactions.

With the support of your lawyer and your real estate agent, when you find an interesting home, you should sign a purchase proposal. It is a commitment to buy, the seller isn’t obliged to accept, but if he does, that document will become legally binding.

Next, you have to go to the notary to sign the ‘compromesso’, a document specifying the agreed sales price, and then, after all cadastral checks have been made, you can sign the ‘rogito’, a declaration between the seller and the buyer and a confirmation that the sale will go ahead. A deposit is usually required.

Only one small step is missing to become the owner of a beautiful home in Italy. Indeed, the paperwork will be verified by the notary with assistance from the seller’s lawyer. Because this process could take a few weeks, usually the buyer takes his time to arrange furnishings and renovations and to get utilities connected.