Real Estate in Italy
An Overseas Property in Italy
There are many reasons to buy a property in Italy, mainly it can be done for vacation, relocation or investment.
Foreigners love to buy real estate in Italy! Perhaps, because it is the first nation in the world for UNESCO heritage, for its natural beauty, for the excellent food, for the history we breathe, or for the Italian lifestyle. However, real estate sales by foreigners in Italy represent around 5.5 billion a year. According to a report published by the World Tourism Organization, Italy is the fifth most visited Country in the world with 58.3 million visitors per year.
Contacting a Lawyer means having legal assistance in your exclusive interest, unlike any other professional involved in a property purchase in Italy
Yes, but hiring a lawyer means additional costs! Yes, but it is relatively true.
It could mean more spending, but often this expense is nothing compared to the security and guarantees that it holds with such an important purchase, as a property, in a foreign Country, where, in the case of Italy, the bureaucracy and the laws are so different and among the most complicated of the World. Without neglecting the linguistic and cultural wall that is encountered in communications with the various operators of the transaction, the banking institutions, the notary, the owner of the property, or the eventual real estate agent involved.
Not to mention that in our due diligence, some legal issues can be discovered that represent a good negotiation element that can lower the final purchase price.
The legal due diligence in the buyer’s interest
The legal protection is ensured through scrupulous due diligence and property investigation, checking the regularity of the eventual agreements or contracts – also already signed – and the legitimacy of the actual claims by the parties, if these are regularly registered and formally valid through appropriate due diligence at the Competent Offices.
The lawyer identifies the taxation applicable to the specific case and proposes it to the parties as well as checking, following indications from the parties, the existence of the requirements for any tax benefits (for example, benefits for the purchase of a first home, or a tax credit or exemption in the case of transfers pursuant to separation or divorce proceedings).
Buy safely, avoiding future Courts litigations thanks to our legal check that can be done both in the ordinary and distressed market.
Are you really sure that you want to purchase unassisted a property in a Foreign Country?
Buying a property can be tricky, it’s a process with several steps and variables that change the options and the terms of agreements, that’s why is always better to have a legal check in any step of the transaction from start to finish.
Sometimes people hear that other foreigners bought safely alone, or just with the real estate agency, and they think that it is the rule: no lawyer needs. They think that everything will go smooth in their transaction too, but a lucky transaction isn’t a rule. Is always better, and cheaper, to hire a lawyer before the legal issues, to try to avoid possible pitfalls during the process of purchasing a property in Italy.
We discover evidences that can reduce the property price
As usual, preliminary checks can lead to lowering the price, solve the problems with the right negotiations, terms, and clauses, and this can lead to paying even less the previous property price!
If during our Due Diligence we find out any legal issues, we will suggest to the Client to negotiate the price keeping in mind this legal unexpected complication.
Often, we negotiate on Client’s behalf and we obtain a price reduction, or an agreement with the seller that obliges himself to pay the costs of the cleaning of the property’s issue.
Off Plan Development
In Italian you will read many property under construction with the definition “vendita su carta” it means is under development, so you buying a off plan development.
This particular case has different clauses and legal warranties that an independent lawyer obtains for the best protection of the buyer.
Ex. Warranty that cover all the sums deposited by the buyer to the seller, even in the case of failure of the developer.
Buying assisted always leads to a better and smooth process.
Be sure to hire Independent Lawyers that represent only your interest in every single phase of the purchasing process.
Our Legal Check is done in the real estate registries, check judicial issues or prejudicial property recording, mortgages, loans, liens or any legal issues upon the property, donations history check, protecting the Clients from any hidden fee or cost.
Without a professional legal assistance, the buyer could discover these issues only after being the new owner, becoming obliged to pay and losing the possibility of negotiations with the seller when he has the power to do it.
It’s crucial to hire an English-speaking Italian Lawyer specialized in Property Law, working only on Client’s interest. We offer trustworthy independent legal services to international and foreign Clients with a specific focus on cross-border residential and commercial property transactions.
There is a good way to do the whole process in complete peace of mind. Keep reading to discover more about it!
Online” Purchase of Italian Property, Remote Transaction
The time is the most precious asset.
A service particularly appreciated by foreign investors concerns the case in which the client chooses to delegate all the formalities to our trusted professionals and see himself becoming the owner of the property without his physical presence in Italy.
In this case, the customer can sign a special power of attorney and be represented directly by the lawyers of the firm, also in the notarial deed.
You just need to push a single button and prepare the transfer to the Escrow Account, held by our Notary, and you’re done! We will take care of distributing the sums for the payments of balance price, expenses, and taxes.
Once the Notary Deed is ready, we will send it to you by email. At this stage, you will be officially the owner of the property and, if you need, we will keep the keys of the building for you.
Real Estate Investments in Sardinia, Italy.
The legal assistance is provided within the property ownership and all the legal rights of real estate transactions. Assistance is guaranteed at every stage of the purchase and sale agreements of properties with the intended uses such as residential, commercial, logistics, deposit or land, through the preparation of contracts and the necessary research and analysis of the legal files and documentation in order to prevent any prejudicial situations.
The consulting services offered also concern the drafting and negotiation of the lease, rental, rent to buy, loan and mortgage, exchange, loan, collateral arrangements, and commercial lease, with particular analysis on the special legislation, as Law n. 392/1978 and Law 431/1998.
We ensure that the interests of the clients are properly protected, landlords or tenants depending on the case, in critical situations such as breach of contracts and notice.
In the event of a breach of contract, the party is assisted before the competent Authorities, including the case of eviction procedures for arrears or for the end of lease with consequent release of the property, also thanks to the experience gained in the execution, expropriation and bankruptcy procedures.
The legal protection is experienced through a scrupulous investigation and due diligence and therefore the regularity of the private agreements – also already signed – and the rights claimed by the parties are properly verified. The property documents are then inspected with all the formalities required by the law to be carried out through appropriate due diligence at the competent offices, such as the Land Registry and the Conservation Office.
Distressed and Non Performing Loan (NPL) Procedures
Within the executive and expropriative procedures, concerning the so-called distressed properties and NPL (non-performing loans), the Law Firm team provides legal protection according to the case to the client in court auctions, to the debtor, the creditor or to the bidder that intends to participate to win the auction obtaining the distressed property ownership. To this end, rigorous control of the documentation relating to the real estate assets is carried out and, for the best outcome of the practice, the most appropriate legal instruments are used according to the procedure under examination.
Contacting a professional, such as a Lawyer, is crucial and is synonymous of legal protection as his work is exclusive with the interests of his Client and this translates into savings on future expenses, legal disputes or litigations, and also in this last case, the assistance is given in any disputes.
In the matter of the related fiscal aspects and tax fees related to the purchase, sale or any other contract agreement of the real estate asset will be done, when necessary, professional communication with the Fiscal Agency.
The assistance offered also concerns all real estate rights, legal and/or conventional communions, easements, usufruct, possession and misuse, legal distances, lights, and views, as well as the property, condominium, including relationships with the administrator and other condominiums.
Condominium Law in Italy
The Firm offers its own consultancy to protect the interests of both the individual or the entire condominium, depending case by case.
The client is assisted in matters and disputes related to the condominium, below are listed the most common cases. Abusive occupation of common parts, advice in the assembly and related resolutions, validity of the same, advice in the procedures of mandatory mediation (Italian Legislative Decree n. 28/2010), appeals for payment injunction, proceedings for delivery of properties, complaint of new work or property damages, appeals against the Public Administration for defaults and omissions, appeal for release of property, evictions, violation, building abuses, water consumption concerning payment claims already prescribed or abnormal compared to the use of the single condominium or condominium.
Buy Your Luxury Italian Villa
Buy your Villa in Italy safely with our assistance and find exactly the property you were looking for thanks to our Real Estate Agency Partner that assists you in finding prestigious villas in Sardinia and in the other Top Destinations in Italy. Your dream property by the sea, in the countryside, on the lake of Como and Garda, or in the historical centers to enjoy the real Italian Dolce Vita in privacy with family and friends. Charming Villas in Tuscany or Rome and Cozy Houses with Pool in the best holiday locations in Italy.
Renovation and Rebuilding Agreements
The Firm, in synergy with qualified Partner Professionals with whom the Firm works, assists Clients through the delicate phase of the renovation and rebuilding of real estate properties and the related drafting of agreements.
Following the desire of our Clients, we take care of the check and legal due diligence upon the property drafting all the necessary agreements with the right clauses for the renovation and rebuilding of the property, especially if it an old residential property that needs a strong renovation. In this way, the property will gain an enhanced market value for maximization of asset profitability.
Thanks to our technical partners, the assistance can be achieved, according to the Italian law, in the following ways too:
- Technical and economic analysis of the real estate;
- Opinions on possible development initiatives in compliance and within the constraints of urban planning and landscape;
- Check and possible “sanatoria” request to the various Authorities in charge, in case of building abuses (abusi edilizi);
- Change of use and destination, structural reorganization, and re-determination of the functions of the property;
- Check of the Certificate of Habitability (certificato di abitabilità);
- Check of the Energy Certification of Buildings “Certificato di Certificazione Energetica” “APE” and “AQE“;
- Restructuring, rebuilding, renovation, and in general upgrade of the assets.
Real Estate Contracts
After the legal due diligence, our Lawyers provide their expertise drafting various real estate contracts as preliminary contracts; lease and rental contracts both for commercial and residential buildings; share transfer with related real estate assets; company rental contracts or leases of company divisions. The Client gets a consulting service for every legal aspect without having to suffer unpleasant “surprises” related to unfair terms, lack of guarantees.
Check Govonilaw Property Purchase Consulting Pack for a complete legal assistance or directly contact us for further information.