THE BUYING PROCESS - BUYING PROPERTY IN CENTRAL LE MARCHE

The house buying process in italy has several distinct differences to the english one.

You decide the property is right.
Our Engineer, who was born and brought up in the area, and owns a house in Avenale, will conduct a survey.
Our Engineer will ask at the "Commune" (Council) whether the house is listed and establish how much flexibility we have.
We agree a price with the owner.
Within a couple of days a "Compromesso" is signed. This is a contract between buyer and seller and an agreed deposit is paid, e.g. 10,000/20,000earos. No lawyers are involved. The contract outlines a set time period for the seller to arrange all necessary documentation for the sale. If the Seller does not honour the time period, twice the deposit amount is paid back to buyer and links are severed.
The normal case is that the documentation is arranged and the buyer and seller meet with a Notary in order to exchange. The Notary will cost in the region of 2000 Euros.
Property Taxes - we are looking into the precise details.
The house is now yours, ready to renovate, let and enjoy.

Buying a property in Italy can have its complications and is not always as straightforward as buying in the UK or some other countries.

Understanding the technicalities of the property process, property language and contract procedure, knowing where to start looking, how to utilise the knowledge of the local agents and understand their fees, property taxes, price negotiation techniques, electricity, gas and water connection etc can be quite a minefield. We will assist with all of this, within our fee.

Our fee is 5% of the final agreed purchase price. 50% is payable at the time of the Compromesso (exchange of contracts), and the balance upon completion. The minimum fee payable is €3000 (euros). We will ask you to sign a simple contractual agreement agreeing the fee prior to us making your first purchase offer.

The services that we can offer include:-

· Personalised search for suitable properties, found using local knowledge and avoiding any other agency fees.
· Accompanied property viewings to translate, provide advice and assistance - our travel as your agent should be paid by you on each trip.
· Negotiation and submission of offers on your behalf.
· Advice, guidance and help with completion of all necessary documentation and paperwork through to completion of the purchase. This includes liaising with any agents and a notary on your behalf, and accompanying you to the signing of any of these documents when we verbally translate where necessary and generally provide advice. If a full English translation of all documents is required we can arrange for this at an additional cost.
· Arranging for a Structural Engineer to do a survey on your proposed property and to provide an estimate of the costs of any renovation if necessary. A full English translation of this document averages €200.
· Regular updates on the progress of your purchase until completion
· Guidance with opening an Italian bank account
· Your travel and accommodation requirements are not included within our fee (although we will be more than happy to help you) .

Post-purchase services
The following assistance and additional services are available and can be costed on an individual basis, post-completion:
· Application for planning approvals in the case of any building works required.
· Applications for connection of the main utilities including water, gas, electricity, telephone.
· Lists of local suppliers for building materials.
· Introduction to local builders, electricians, plumbers, architects and technicians, or a full renovation service including project management and Structural Engineer.
· Full furnishing of the property, ready for habitation.
· Advertising and letting management of the completed property.
· Advice on how to go about buying a car and getting insurance - free service.
· Help and advice in relation to buildings and contents insurance - free service.
Advice, guidance and help to obtain a Codice Fiscale (National Insurance number).

BREAKDOWN OF GENERAL REQUIRMENTS

1. Translations - We can provide translations for £150 per 2000 words. This would not be in technical legal language but would accurately convey the meaning. (Silvia teaches Italian to adult education students and I have a TEFL qualification.) For certified translations we would need to go to an external agency for an estimated price of £120 per 1000 words.

2. Independent Valuations are not common in Italy as they are in England. We have a good idea as we have been looking in the area for two years. In the tour of your long list, you will gain an idea of what is a reasonable price and what can be expected for your investment.

3. Planning - See the case study for more information but as a general rule, we will ensure habitability has been secured before purchase. Other than this, some houses are protected and must be reconstructed exactly as they were built and there is no leeway, effectively grade 1 listed. Other buildings are more flexible and some changes can be made. We will ask at the "Commune" how much flexibility there is on individual cases before the decision is taken to purchase. From here, once the house is purchased, proposals are put forward for permission. much like the English system.

4. Renovation - We are in contact with an Avenale based restoration company that can provide a complete service, from initial concept designs and sketches, to materials, to project management and complete renovation. We can also carry out work with our contacts, as we know architects, engineers, project managers and tradesmen in the area.

5. Support Services - We will follow and assist through every step of the buying procedure and the renovation, leading to letting and maintenance if that is required. We will locate and brief, follow any professionals that you require throughout this process.

7. Rental - We can give a good idea of rental values as it is an area I have been researching and learning about for the two years and a half. It will depend on the property and location. Another major factor that should be considered at an early stage is a swimming pool. This will have huge impact on the cost and desirability of the property as a holiday destination. E.g. Casa Frances high season rate is £850. With a nice swimming pool it would be perhaps as high as £1300 per week. This will however have an effect on point 8.

8. Running costs - We can give an idea of running costs. This will again depend very heavily on a swimming pool, which will push the cost up dramatically. We will also need to find a friendly, responsible and willing "Primo" to help with any situations when you are not present, and arrange the cleaning between guests. We can help you with all of these areas.

9. A time scale - can be supplied when a house has been selected, it will be an outline, but it will give an idea. Generally we should allow between 1 and three months for the exchange, and a year for the work involved in a complete renovation. Please see the case study.