Can anyone please explain the selling

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10/18/2019 - 10:52

Can anyone please explain the selling process in Italy. What costs we have to consider when we sell and what happens? Does the buyer pay a deposit, do they have a survey on the house, can they pull out at anytime... we literally don’t know what is involved and wondered if it is similar to buying/selling in England.  We have a house on the market and did have a potential buyer that needed to get a mortgage but we have not heard anymore and had no other offers in 6 months. We have reduced the sale price from 95,000 euro to 65,000 euro. Still with no interest. Thank you in advance. 



Sorry to hear that. I know it is a worry as we have a friend who is just in the process of selling and she has been back in the UK for 2-3 years or more. For her it was not quite as bad as she had lived there for some years and knows what needs to be paid and has had someone to keep in touch and help keep things in order. What is your agent doing and have they been of any help?

That’s good about your friend and she has you to help her too, which I’m sure grateful for! The agent has been great. The house though is big, but it has no outside garden so right on the main road through the village and it’s quite noisy. No one was interested in the first price so we dropped it on the agents advice. A few issues with family as on paper my husbands aunt is down as 50% share but my father in law had already paid her half before he got ill, and was in the process before he was ill to transfer the house to my husband and my sister in law and pay off my husbands aunt. So there is an issue with my husbands aunt not wanting us to give the house away but no one has been interested at the price so far. 

Agree with previous post that your agent should guide you. Once a buyer makes an offer that is accepted then they have to make a deposit that they loose if they pull out. They can't renegotiate price once committed and surveys are rare and have to be done before making an offer. The buyer and seller also use the same notary who acts for both parties. It is important to have set the percentage commission for the agent. Good luck.

Thank you this is really helpful. We do have a set commission which I think is good, the agent has been really helpful, it’s just the process of selling that is filling us with dread. I will ask the agent if they should e all the documentation as see also from others that is meant to be provided at the start. 

As a seller you have to produce certain documents that may cost you money if you dont already have them.   An APE or energy certificate is obligatory as is a CDU if you have agrictulural land.   Obviously your paperwork must be in good order, especially the plan of the property which must be the same as its actual state or it will create problems and cost you money.The buyer will usually put down a deposit at the preliminary of sale which is legally binding. If they back out they lose it, if you back out you pay double back.   If your buyer requires a mortgage though, things get more complicated as they will want a clause which allows them to back out with no penalty if they cant get a mortgage.    HOwever the market itself is very different from the UK.  Times to sell properties are longer, above all if you are in the second home market, and it can be years.   Think of the possbile buyers which will be attracted to your property and aim for them.  The process is more secure than in the UK, and the notary usually assures a level of checks and balances which you dont get in the UK.   

Thank you so very much, this is really helpful and we appreciate it. We were not aware of the documents to be produced, but maybe family in Italy have already pulled those together and provided them. We will give the agent a call today and ask them if they have everything. Thank you again.