1. Why are the rates higher in some areas?

The rates are based on the population and popularity of an area. The higher the demand for property in the specified place, the higher the rates will be. A villa along the coast will cost more than a farm house in the rural area of Italy.

2. Will it be a good investment?

Italy has a strong economy and is a popular tourist spot. It is a preferred location for many dream homes. While there are no absolute guarantees you are unlikely to lose money if you choose to buy and then resell the property. In the end, location and market forces will determine the true value of your investment.

3. Can I get a mortgage?

Yes, you can get a mortgage. In fact most real estate agents will suggest it to you. Do note that the lender must be registered to extend mortgage loans in Italy. You have many establishments to choose from: Italian banks, Italian branches of the bank that you already patronize in your home country or third party offshore banks such as ABN Amro.

4. Is it necessary to have a Compromesso?

Some vendors or sellers will tell you it is unnecessary however it is in your best interest to have one. The compromesso binds both the seller and the vendor to complete the transaction or pay the necessary penalty. Specifically, if the buyer changes his mind though he will forfeit the deposit he has already given. The vendor on the other hand will have to return the deposit (in some cases, they must give double the amount of the deposit) if they back out from the deal.

5. Do I need to be present when the final sale is made?

Usually both the buyer and the seller appear in the Notaio to complete the agreement. However, if you prefer, you may assign a third party to represent you instead as long as he has your power of attorney.

6. Are the prices of the properties fixed at a certain amount?

The rice depends on the vendor or seller. Some may be unwilling to negotiate especially if they need to have a certain amount of money for other purposes as well. It never hurts to ask though so you should not hesitate to name an amount that you hope will be acceptable to your seller. You may simply need to practice your bargaining skills to convince them to sell.

7. How much do agents charge for helping to find property?

Some specify a professional fee that you pay once you’ve actually purchased your new home. Others will say that they do not charge a thing but actually add a percentage to the actual cost on top of the price given by the seller. They will then simply remove their OcommissionO before passing on the payment to your seller