| Buying
property abroad can be a pleasant and exciting
experience, or can, like all major investment
decisions, become a worry. Although Italy is
known for its bureaucracy, you may find buying a
home in Italy easier than you think, provided you
set out with adequate information and have an
idea of the procedures and potential pitfalls. The procedure can be
compared with the Engish process of making an
offer, exchanging contracts and completion, but
the similarity can be deceptive and the legal and
technical professionals who must be involved have
different roles to those in the UK.
The following
gives you some idea of what to expect. It should
be regarded as our personal opinion, and is not
intended to give any legal or professional
advice. Further information can be obtained by
reading guides to buying homes in Italy.
Finding a
Property.
Exploring the area
and looking at properties is perhaps the most
interesting and enjoyable part of the process...
except of course for the day you move into your
new home.
Property can be
found in two ways, either through introductions
to private vendors, or (and we recommend this
route) through estate agents. Estate agents' fees
can vary, normally about 3 per cent, plus Italian
VAT currently 20%, and unlike the UK system the
vendor pays too.
Generally, agents
do not provide the detailed information you would
expect from an agent in the UK, and they rely on
your own property inspection providing the
information you need. It is wise to warn agents
in advance of a proposed visit, and to have a
clear idea of what type of property you are
looking for and its location. Inspections may
take a day or two to arrange, and because Italian
agents take the traditional long lunchbreak you
might not be able to visit as many properties in
a day or a short visit as you expect, especially
if you are looking at properties in rural
locations. You will always be accompanied on a
property inspection, and you should not expect to
meet the owner at this stage.
As some Italian
agents in Puglia may not yet be fully geared to
dealing with prospective purchasers from the UK
you might find agents speak little or no English,
or have to arrange for a translator. This
situation is changing, but you need to be aware
also that many new agencies have sprung up in the
last couple of years, and the proprietors may not
be as experienced as you may wish.
If you can arrange
visits through an English intermediary this can
be a big advantage, in terms of saving your time,
helping ensure the properties viewed match your
requirements, ensuring local agents are
established and reliable, and helping you through
the purchase process. This should not cost you
any extra.
The Next Stage - Making an Offer and
Signing a Contract.
For any enquiry on
buying property in Puglia, please contact us.
Disclaimer - To the best of our
belief any opinions on fact in this brief guide
are accurate at the time of writing (May 2008),
but should not be relied upon and we can not
accept any responsibility for any loss or
inconvenience resulting from the use of any
information or opinion in this guide.
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