Selling a property my husband has inherited with his sister - my father in law passed away in 2017. the house was 50/50 owned by my father in law and one of his siblings.
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 have inherited a 4 bed large house in San Giorgio a Liri in Italy. We live in UK. We have the house on the market to sell and it has been 6 months no offers. The house is vacant but will there be any taxes, bills to be paid?
Hi! Thank you so much for helping. 2012 my father in law and his 5 siblings all inherited 1/5th each of their parents (my husbands grandparents estate) which totalled €31700 each. There were numerous properties and outbuildings and land so each sibling got something; 1 got a shop, 1 got some land, etc etc my father in law and his sister got the house jointly. it was always the agreement between them that my father in law would buy her out as he wanted to transfer the house to my husband and sister in law. He also spent over €20,000 on the house modernising it but only for his own benefit as it was never assumed he would get that money back and he never had to consider getting any money back, because he never thought that my husband and his sister would ever want to sell it, but since his illness and subsequent death they have not spoken. we found out yesterday my father in law paid his sister €18,000 in 2014. At that time he also was drawing up the documents t transfer the house over to my husband and my sister in law and he would have paid the balance of €13,700 to his sister too. However, in June 2015 he was diagnosed with a brain tumour and didn't recover. He passed away in 2017. so my husbands aunt we believe is owed €13,700. The house has had an offer of €63,000 but she wants more. So we assume that she is expecting more than what she was initially inherited in 2012, because half of €63,000 is €31,500 minus the €18,000 = paying her €13,500sonwe can only also assume that something else is going on here, but we don't know what.
Thank you so much this helps! We had an offer today as we reduced the price. I will post a new post and hopefully can get some advice... thank you again. Super helpful!!
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.
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.
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.
Hi, yes we have done the succession. It’s a bit more complicated because my father in law inherited it along with his sibling. He had already paid over half to buy her out and was in the process of transferring to my husband and my sister in law in 2015 before he got his terminal illness diagnosis. Then 6 months later when he had his brain tumour and health was in such a rapid decline my husband and sister in law could not carry on with the transfer to them. So nothing was done. Now on paper my husbands aunt owns half and him and his sister 25% each, but there will only be less than 20% to pay his aunt when it sells. It’s all so complicated and a bit of an elephant in a room
Thank you so much this is very helpful.
Hi billy, thank you. Do you mean a tax bill in England?
Thank you for helping! We are pulling our hair out here.
Thank you! No one has been in the house since June 2015 as my father in law became terminally ill and he sadly died in 2017 (he was born in Italy but moved to UK in 1970’s) but inherited the house in Italy from his parents so we used it as a holiday home. So no one has stayed in the house since 2015 with all electricity, water etc not used.