Buying real estate in the Langhe
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PIEDMONT HOUSES REAL ESTATE AGENCY PROVIDES YOU WITH ASSISTANCE DURING ALL STAGES OF BUYING AND SELLING.
We are by your side during the purchase of your property, we will support your every need.
Let’s find out all the steps:
If you have found, among those proposed by us, the property suitable for YOUR needs, the first step is to sign a purchase proposal addressed to the seller, indicating the offered price, terms and conditions of payment, the time of completion of the transaction and the term of validity.
For the purchase proposal to be valid, it must be guaranteed by a check (or deposit in the agency’s bank account) made out to the sellers in the amount of 5 percent of the offered price. In case of acceptance of the proposal, this sum will be transferred to the seller and from that moment will be valid as a deposit ( art. 1385 Civil Code); otherwise the check (or deposit) will be returned to you in full and you will not have contracted any commitment with either the seller or the agency.
At the time of the proposal, you will also sign your commitment regarding agency fee payments, which will accrue only if your proposal is accepted.
Once agreement is reached between the parties about the sale of the property, Piedmont Houses Real Estate Agency will draft a document, the preliminary sales contract (or compromesso) detailing the particulars of the contracting parties, cadastral identifications of the properties, the price, terms and payment methods, the date of the notarial deed, and any mutual commitments between the parties.
When the compromise is signed, an additional 20 to 25 percent of the agreed price is normally paid, which increases the deposit paid upon acceptance of the proposal.
The Real Estate Agency will arrange for the registration of the contract and, if necessary, any required notifications for agricultural prelations (in case of purchase of agricultural land). At the time of the preliminary contract, agreed commissions must also be paid to the Realtor.
The task of the mediator (he is the one who brings two or more parties together for the conclusion of a deal, without being linked to any of them by relationships of collaboration, dependence or representation) is to search for a potential buyer/seller for the successful conclusion of the deal using all the means he has at his disposal (advertising on real estate portals, display signs, newsletters, etc.).
The compensation to the real estate agency, that is, the commission, is received at the time the deal is concluded by both parties.
The Piedmont Houses Real Estate Agency will collect all the necessary documentation relating to the contractors and the properties(cadastral and mortgage viewings, floor plans, deeds of provenance, planning permission measures, any certifications) and will forward them to the notary chosen by the purchasing party, who, after the necessary verifications (absence of mortgages, liens, etc.) will provide for the deed, through which ownership is officially transferred.
At the time of the deed, the sellers must be paid the balance of the price and the notary his or her dues and purchase taxes and fees.
According to Italian law, the buying and selling of real estate can only take place through two well-defined contractual forms:
- notarized deed,
- Notarized private writing.
A notarial deed is a document made by a notary public, who takes responsibility for its contents and has the parties sign it after reading it and making sure it is understood.
In the event that one or both parties do not understand Italian, it may be requested that the deed be translated into the languages understood by the parties.
The translation must be done by an official and accredited translator at an Italian court. The additional cost of translation will have to be borne by the requesting party.
Many foreigners who do not understand Italian, and who do not wish to incur the cost of an official translation, resort to notarized private writing. This form of contract assumes, in theory, that the notary’s function is only to verify the identity of the contracting parties and authenticate their signatures, without entering into the substance of the content of the contract, since the parties themselves take responsibility for it. In this case, an official translation is not necessary.
In practice in reality it is always the notary who draws up the contract and makes the appropriate checks (no mortgages, liens, etc.), no more and no less than he would have done for a normal deed.
The notaries with whom our agency works make themselves available to provide a prior draft of the deed so that this can be checked and, if necessary, translated privately by contractors who request it.
They are always and fully borne by the purchasing party.
According to current legislation, they vary according to the legal status of the contracting parties and according to any conditions of applicability of tax benefits:
- Pickup and shipment of the deed to the address given by the customer;
- Assistance in turning over or new utility contracts (water, electricity, gas, telephone), ICI report, garbage tax;
- We are also able to provide contacts with qualified professionals (architects, surveyors, lawyers, insurers), construction companies or craftsmen for small or large renovations.
We offer additional assistance for foreign buyers
We are fully aware of the difficulties that foreign people buying real estate in Italy may face, and that is why, spontaneously and without further charge, we provide our clients with a range of services even after the real estate transaction is concluded. In some cases we have helped our clients enroll their children in school or even find jobs.
