Is a big villa in the middle of the Tuscan hills your dream home? Are you planning on moving to the seaside, perhaps in an airy 20th century house with a panoramic view over the Mediterranean Sea? Or are you in love with the Alps and dream about starting a rural life in a cozy wooden house in Trentino? Well, these bucolic perspectives might not be that far. Every year, more and more people from all corners of the world choose to purchase property in Italy. Some of them choose to retire in Italy and just want to enjoy the country’s warm climate and beautiful landscapes; others relocate to Italy because of the country’s lifestyle and social welfare. Indeed, in recent years Italy has experienced an unprecedented surge in citizenship applications and has attracted thousands of real estate investors.
But what are the steps involved in purchasing a property in Italy?
If you reside abroad and cannot travel to Italy multiple times you can contact a law property firm and rely on their services. Firstly, if you have not identified the property you would like to purchase they will carry out research to find the one that best suits your needs; they will then review the legal status of the property by consulting the appropriate records and Land Registries. Secondly, they will view the property and meet the seller. During this phase they share pictures with you in order for you to have an idea of what the property looks like. If you wish to proceed with the purchase, they can make an offer on your behalf and if this is accepted they draft a Preliminary Contract of Sale. Finally, if you cannot travel to Italy to complete the purchase process, you can sign a Power of Attorney and delegate a trusted person or the real estate agency to represent you and sign the Final Deed of Sale on your behalf. In this particular case, they will draft the Power of Attorney, send it to the Notary in Italy for it to be approved, translate it into English and send it back to you. You will then have to notarize the Power of Attorney and request an Apostille on the document. After this phase, the apostilled Power of Attorney will then be sent back to Italy and a professional translator will translate the notarized statement and the Apostille and legalize the translation in court – a process which is referred to as a sworn translation. In other words, a sworn translation entails taking an oath before a court so that one’s translations are accepted as a faithful version of the original in accordance with the legal requirements. Once this has been done, the person you have appointed can sign the Final Deed of sale on your behalf.
If you then intend to use your new property as a vacation home or you plan to rent it out, real estate experts can provide you with legal advice. Undoubtedly, a good understanding of the real estate market and its laws and regulations is essential and although Italian bureaucracy might seem daunting, relying on a real estate agent or consultant who is fluent is English will make the whole process easier and it will avoid you incurring into any misunderstandings that could arise from language barriers.
But why is this so important?
An understanding of the legal terminology involved in a real estate purchase process is vital because even the smallest mistake can lead to stalls or issues in the real estate transaction. When signing the Deed of Sale before a Notary Public, for instance, an interpreter must be present by law if the buyer is not fluent in Italian. Besides this, an accurate translation is important because in the event of litigation the Italian version of the Deed will prevail.
In conclusion, choosing a professional real estate property firm like ourselves to help you throughout the purchase process means choosing a firm which is qualified not only from a legal point of view but also from a linguistic one, therefore you will never experience difficulties with understanding the laws and regulations. We, as experts in the field, will be more than happy to help you and will do our best to satisfy your needs. Do not hesitate to contact us at firstname.lastname@example.org!