We are signing the compromesso at the end of July, this is a bit earlier than expected due to the lack of people around in August.
We were told by the agents agent that we could stretch out the time between the compromesso and the final signing for a year, we do not necessarily want this long but 6 months would be good. I know that it depends on the circumstances of the existing owner but I am looking for any previous experiences, thoughts or legalities.
Any responses would be greatly appreciated.
Thanks
Stribs
Category
Property Sales/Rental Advice
Submitted by Anonymous (not verified) on Thu, 06/30/2005 - 17:54
[QUOTE=Stribs]We are signing the compromesso at the end of July, this is a bit earlier than expected due to the lack of people around in August.
We were told by the agents agent that we could stretch out the time between the compromesso and the final signing for a year, we do not necessarily want this long but 6 months would be good. I know that it depends on the circumstances of the existing owner but I am looking for any previous experiences, thoughts or legalities.
Any responses would be greatly appreciated.
Thanks
Stribs[/QUOTE]
The law doesn't fix a minimum or a maximum time between compromesso and the final "atto pubblico", that is the contract signed before a notary with whom the ownership is trasferred.
So you can decide how long you wont.
BUT,
since you've not the property yet, but only a promise fron the vendor that he'll sell the estate and since you've probablly given a deposit, an obvious advice is to wait not too long for the final public contract, because a lot of thing could go wrong in the gap between the compromesso and the final contract: the vendor could die, go bankruptcy, sell to another person etc. etc. etc.
[QUOTE=Stribs]We are signing the compromesso at the end of July, this is a bit earlier than expected due to the lack of people around in August.
We were told by the agents agent that we could stretch out the time between the compromesso and the final signing for a year, we do not necessarily want this long but 6 months would be good. I know that it depends on the circumstances of the existing owner but I am looking for any previous experiences, thoughts or legalities.
Any responses would be greatly appreciated.
Thanks
Stribs[/QUOTE]
The law doesn't fix a minimum or a maximum time between compromesso and the final "atto pubblico", that is the contract signed before a notary with whom the ownership is trasferred.
So you can decide how long you wont.
BUT,
since you've not the property yet, but only a promise fron the vendor that he'll sell the estate and since you've probablly given a deposit, an obvious advice is to wait not too long for the final public contract, because a lot of thing could go wrong in the gap between the compromesso and the final contract: the vendor could die, go bankruptcy, sell to another person etc. etc. etc.