When buying property in Italy it is important to understand the process and the Italian personality to enable a successful transaction. The Italian history has affected the nature of the process as well as the Italian culture.

In all negotiations it is important to make sure that the Vendors do know you or your agent. Discussions can become protracted and trust is of the essence. When buying property in the UK, an offer can be made with a simple two minute phone call and then the legalities can start. In Italy an offer can be made but this means nothing to the normal Italian unless there is a willingness to sign a compromesso.

The usual method is once an offer has been accepted, very quickly, a simple contract called a compromesso is drawn up for both parties to sign. This is equivalent to an option to buy. One can have clauses within the ‘Compromesso’ which will enable a buyer to do the searches and planning on the property. If it is impossible to fulfil the conditions, as laid down in the ‘Compromesso’, then one is entitled to receive the full deposit back without damages. If you place a third of the purchase cost at compromesso then you are entitled to twice the value of the deposit

This is the system in Italy. Finding title to property can be difficult and there can be many co-vendors and individuals with rights and covenants on the property or the plots of land being offered with the property. The compromesso is more of an option to buy as is only a binding contract if all of the conditions are met after its signing this is different to that in the UK. The ‘Compromesso’ can be have the names changed before completion and only when the completion document is made and signed at the Notario’s office has one purchased the property and the new owners name is registered.