However, before buying a property, you need to know that Italy has poor legislation on the sale of real estate, actually the administrative, technical, legal, mortgage, financial, urban planning, cadastral, procedures, and property titles procedures must be carefully checked before purchase, as neither the real estate agency nor notary public are formally obliged to verify all of these steps. In fact compliance with some of these steps can often be based only on self-certifications by the Sellers or by the technicians they appoint. Some of the checks described on our site are very often not even carried out, because they are not mandatory under the current legislation.
As just one example, Italian Law no. 122 of 30/07/2010 provides that if the property subject to sale lacks some of the above specific procedures, the notarial deed that transferred the title of ownership from the Seller to the Buyer is null and void.
You can therefore imagine how important it is for a property be provided with our "Certificate of Approval", which guarantees the Buyer the full compliance of the property with the standards set by the various laws on the sale, purchase and any other transfer of Italian real estate.
The CERTIFIED-PROPERTIES ITALIA system will avoid any kind of problem, unwelcome surprise or dispute, before, during and after the purchase of your new property. And it will save you from long, exhausting and expensive legal proceedings in Italy, allowing you to benefit from absolute peace of mind and the pleasure of your new purchase. On the pages of this website you will find descriptions of all the individual items that we check before issuing our "Certificate of Property Approval": each and every one of these areas and elements will be carefully checked and certified as part of our procedure.
We conduct all the following checks before issuing our approval certificate:
Thanks to our proprietary Thor-Controller™, all the analyses described above will be interlinked and cross-checked, over the past 20 years of the property's history and if necessary to the date of construction.
Only after all Thor-Controller™ operations are complete will we issue our "Certified-Properties Approved" certificate. At that point the property can be purchased or sold in absolute peace of mind.
Buying a property in Italy at this time can be a very advantageous operation. This applies from both the financial point of view, given the future revaluation of the property, and for the profitability obtainable by inserting the new property in the circuit of short tourist leases. Italy is currently the fifth most visited country in the world, with about 58.3 million tourists per year, and is typically considered one the "most fascinating countries of all", given its immense share of the global historical, artistic and cultural heritage, in combination with a mild climate, welcoming population, and its vast and unmatchable offer of excellent food: from precious wines to pastas, cheeses, olive oils and its overall renowned cuisine.
By purchasing your property in one of the popular tourist areas (Tuscany as one example among many), and then renting all or part, it is possible to obtain truly interesting incomes from short-term tourist rentals, by entrusting your new property to specialized agencies or operating on your own through the most common portals, such as booking.com, Airbnb, Expedia, Home Holidays etc.
Beginning with the post-war period of the 1950s the Italian real estate market was completely free of crises until the two-year period of 2006-2007. Italians rank among the first in the world in terms of share of population who own their own homes, and have always viewed real estate ownership as highly favoured over other forms of investment. In 2008, following a brief period of stagnation, real estate prices entered a recessionary phase resulting in a sharp drop in prices, of more than 35% in some areas of the country.
More recently, however, this approximately 10-year downward trend has been interrupted and the country has seen an increase in the number of trades and a slow but steady recovery in prices. The current years therefore seem ideal for purchasing a property in Italy.
The process of acquiring a property in Italy involves two steps: first, the presentation of a formal "purchase proposal" to the Seller, through a real estate agency, and second the execution of the "notarial deed", i.e. the deed stipulated through a notary public, who in this case represents the Italian State and attests to the transfer of property ownership, with registration of the act in the public Real Estate Registers held at the various State Registrars' Offices. In the first step of the purchase proposal, the Buyer proposes the following to the Seller: the price being offered; the date by which the Buyer will stipulate the notarial deed (Italian law does not specify the deadline; the Buyer must make the proposal) and the deposit (the amount of advance payment on the offered price).
The deposit is a very important element, since in the Italian legal system it constitutes acceptance of obligations between the contracting parties (Buyer and Seller), applicable in the case of one of the two parties changing their mind in the period between acceptance of the Purchase Proposal and the notarial deed. If the party changing their mind is the Seller, they must pay the Buyer twice the deposit provided at the time of acceptance of the purchase proposal. (Example: a Seller who receives a deposit of €50,000, but before the notarial deed decides to sell the property to another party, must first pay the Buyer €100,000, or twice as much as they had received, to free themselves from the legal constraints inherent in the purchase proposal.)
You will understand how important is that the verification process should be implemented, possibly, before the Purchase Proposal.
The register of all real estate on Italian national territory, both privately and publicly owned, is known as the "Cadastre"...
When buying a property in Italy, it is of fundamental importance to carefully check and verify the "titles of provenance"...
Once they have found a property of interest, one of the main problems facing the potential Buyer is whether the price requested is appropriate...
Another essential aspect to be checked with great care before buying an Italian property is "liens compliance"...
Before buying a property in Italy it is very important to verify and certify the conditions relating to a number of legal areas...