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HOW TO BUY REAL ESTATE IN ITALY To own a home in Italy is one of the most intense and fascinating experiences. Sotheby’s International Realty can guide you through the complete process of buying Italian property, leveraging on its expert team of agents and on a number of specialized advisors. STEP 1: PROPOSAL • The buyer acknowledges that he/she has seen the property and makes an offer. The buyer gives the broker a cheque in escrow, for 1% of the offered price. • If the seller accepts the offer he/she notifies it to the buyer. At this point the buyer’s offer becomes binding. STEP 2: PRELIMINARY CONTRACT • Buyer and seller sign a contract binding them to perform the transaction. • The buyer pays 10% to 20% of the transaction value. • The buyer and seller pay brokerage fees. STEP 3: PURCHASE DEED • Buyer and seller sign the deed in the notary’s office, usually within three months of the preliminary contract. • The buyer pays the balance of the purchase price. The entire process involves the assistance of Sotheby’s International Realty professionals, but also of surveyors, notaries, architects, legal and tax advisors, foreign exchange service providers. Sotheby’s International Realty arranges for buyers to work with the best of all such counterparts.
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