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Property sales - Common Pitfalls & The Italian Legal System


Buying property abroad can be a daunting prospect, whether you are buying as a permanent residence, second home or investment opportunity, Tuscan Prestige can assist you in negotiating the local property market. Here are some examples of what to be aware of:

All properties in Italy are freehold (with some very few exceptions, which rarely - if ever, effects the domestic use market).
Estate Agents are strictly controlled and only those registered with the Chamber of Commerce should be entertained. Italian Estate Agents are responsible to both the buyer and the seller and as Property Negotiators have legal responsibilities to both. Their duties are to bring to a mutually fruitful conclusion the Negotiation, acting independently with both parties and in so doing are paid commissions by both parties.

The intrinsic legal system can present many pitfalls but a reputable estate agent can smooth out many of these problems, which, on the surface may not be apparent to the buyer. For example, right of preemption, communal access, right of title, building irregularities, etc

A good Estate Agent will give you immediate and clear answer to all your questions. The friendly Italian met in a bar or the well meaning expatriate who knows a house that is for sale or someone who is selling may unwittingly be introducing you to problems and a financial mess that could well be avoided. Always ensure that your estate agent (property negotiator) is registered with the Chamber of Commerce, this guarantees you that he or she has passed exams on; Civil Law, Property Law, Inheritance Tax and is well versed in all aspects of Property Legislation. Remember that he or she is working for you. Do ask to see their personal License issued by the Chamber of Commerce, any reluctance or excuse not to do so, should be treated with caution.


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