legal advice real estate Italy

Legal Advice for Italian Real Estates

If you are US citizen buying a house in Italy you may be wondering how you can facilitate the transfer of ownership for foreign real estate legally. In this article we will discuss real estate legal advice in Italy and some of the requirements you may have as a US investor in Italian real estate.

Easy Home Italy is here to help you with:

Advising you, as a foreign client, on Italian property law

Advising on inheritance law

Mortgage advice

Assistance with negotiations

Assistance with the work to be done by the notary

Review of agreements and other legal documents

Legal translations

Assistance with any disputes that might arise

Italian property Law

There are no main restrictions for foreign ownership, but  for US citizens would buying a property in Italy can be complex. Many property owners in Italy will seek representation in the transfer of purchase for their real estate to US citizen. Any offer also needs to be accompanied by a 1% deposit and the real estate agent for a seller will also receive a commission from the buyer and the seller. Most commission rates in this area range between 2.5 to 3%.

It’s important to keep in mind these extra fees as an American buying real estate in Italy.

Mortgage Advice

Getting a mortgage in Italy as a foreigner can also come with some challenges.

Under Italian law the value of a mortgage can’t exceed 80% of the property value. You also need to demonstrate proof of income and work with a company that specializes in offering mortgage loans to US citizens. What many individuals end up doing is taking out a home equity loan against property in the USA in order to acquire the funds to purchase Italian real estate. Taking out this home equity loan in Italy can help to protect a buyer against currency exchange rate fluctuations.

Working with a notary

Any legal documents associated with the sale of real estate in Italy need to be properly notarized. When receiving legal advice in buying a house in Italy make sure that you are working with a lawyer that has access to a legal notary. Having access to a notary will make sure that you have appropriate signage for the final deed.

Agreements and other required legal documents

If you are ready to make an offer on real estate in Italy will need to sign a purchase proposal including your 1% deposit. There is also a preliminary contract that comes before the final contract of sale. A lawyer or notary can complete the compresso contract which details the overall sales price, address and what is to be included in the final deal. A supplementary agreement that you may need to sign it includes a registration of your final contract with the land Registry. This can reduce the chance that someone could use the property for a loan or sell portions of the property without your consent.

Keep some of these ideas in mind if you are considering the purchase of Italian real estate.

Find out more about Easy Home advice

Our efforts is not related just to legal advice. Easy Home Italy wants to help you putting at your disposal many consulting services and advices with just one partner: 

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