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Buying Your Emilia Romagna Property
After the initial offer for a property has been accepted, there are two contractual stages to purchasing accommodation in Emilia Romagna.
The buying process takes the form of the following process:
1. Make an offer on a property
2. Sign a Proposta Irrevocabile D'Acquisto
3. The Compremisso - Preliminary Contract
4. The Rogito - Final Contract
Making An Offer - Proposta Irrevocabile D'Aquisto
Once you have chosen to make an offer on your dream Italian property and it is accepted, the estate agent may ask you to sign a Proposta Irrevocabile D'Aquisto (Irrevocable Proposal to Buy). Although it is poor professional courtesy to accept more than one Proposta Irrevocabile D'Aquisto on a property, it can happen. This document does not legally reserve your home even if you have written acceptance of your offer from the vendor. Only after you sign the Compremesso is your property reserved.
The Compremisso - Preliminary Contract
The Compremisso includes:
• Vendors Details
• Buyers Details
• Property Description
• Agreed Sale Price
• Deposit Amount (Coparra or Deposito)
• Final Contract Date
The Compremesso is a legally binding contract which once signed and registered with the local Registration Tax Office, commits both the vendor and buyer to the transfer of the property.
Should the buyer choose to withdraw at this stage they are at risk of losing their deposit. Similarly, should the vendor withdraw, they are obligated to return the deposit to the buyer along with a penalty amount equal to the deposit.
The Rogito - Final Contract
Before the Rogito can be signed, you will need a tax code or Codice Fiscal (similar to a National Insurance Number) so that you are able to pay tax on the purchase of the property.
The Rogito is a legally binding contract and must be signed in the presence of an official Notaio (Lawyer/Notary). The Notaio 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.
Once all of this has been taken care of, the transfer of the ownership of the property is complete.
Together, we will make buying an Italian property easy, safe, secure and stress-free.
Properties for sale in italy including:- Houses, Villas, Apartment, Farmhouses in the Emilia Romagna Region
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