In reply to A newbie all over again! by Annec
In reply to A newbie all over again! by Annec
Aliena
You will have to make a written offer, which is called the proposta d’acquisto. This offer is revocable (unless it is a proposta irrevocabile) at any time, but once the vendor has accepted it, you enter into a legally binding contract. You will be asked to pay a deposit and this is called the deposito causionale and is refundable (although it is always wise to stipulate this in the offer).
I suggest the following:
Don’t allow the agent or vendor to rush you.
If you really need to move on this then have a professional draw up the proposta and make the offer conditional. It is always wise to insert some conditional clauses to protect your position:
For example:
a) That your offer is subject to satisfactory searches and structural survey
b) That your offer is subject to the parere di fattibilita’ from the local council
c) That your offer is subject to you obtaining a complete breakdown on renovation project costs (including utility installation and change of use)
d) That your offer is subject to you securing a mortgage (if this were the case)
e) That your legal advisor will hold the deposit and only release the funds when all conditions of the proposta have been fully satisfied
f) That the proposta will become ineffective and the deal is off (with no penalty to you) in the event the conditions are not fulfilled.
If you want a survey then get independent advice from either an architect or Geometra. The survey is called perizia in Italian. The report should highlight all the weaknesses as well as the strengths of the property. It should also help you prioritise on the areas that will need the most attention. It will prove useful when negotiating the asking price.
You could appoint a solicitor to handle this for you as they can find the architect/geometra and select the notary for you. If you need the name of a good Italian solicitor, then get in tough with me via pm or email.
Hope this helps.
In reply to A newbie all over again! by Annec
[QUOTE=Charles Joseph]Aliena
.....If you want a survey then get independent advice from either an architect or Geometra. The survey is called perizia in Italian. The report should highlight all the weaknesses as well as the strengths of the property. It should also help you prioritise on the areas that will need the most attention. [COLOR=RoyalBlue]It will prove useful when negotiating the asking price. [/COLOR]....
[/QUOTE]
Charles, does this mean that the Proposta D'aquisto does not include the amount you are offering for the property?
Gerry
In reply to A newbie all over again! by Annec
[QUOTE=Gerry]Charles, does this mean that the Proposta D'aquisto does not include the amount you are offering for the property?
Gerry[/QUOTE]
Gerry...
The proposta d'acquisto is your offer to the vendor and includes what you are willing to pay.
The survey will give you a better idea about 1) the building and its faults 2) what work and expense is required to put it right 3) the value of the property.
It is best to get this done before making the offer if you can, but if you are pushed then make it very clear in your proposta that you do not intend to be bound (senza impegno) at this stage and that your offer is preliminary only and subject to a satisfactory survey.
In reply to A newbie all over again! by Annec
Thankyou, that's very helpful.
Gerry
In reply to A newbie all over again! by Annec
[QUOTE=Aliena]
I want the house surveyed.. and this is where I get confused.. :confused: do I have to make an offer that is acceptable first? What happens if the survey reports the house is held together with string and brown paper? I am confused as to how to withdraw from the sale if the survey results are not good, as it appears to me that any offer made and accepted in Italy is legally binding! Surely this can't be correct if a survey reports the house is unsuitable!
[/QUOTE]
Aliena
Charles (with competence as usual) has already given most of the aswers you needed, so there's nothing more to add.
Just to give some further informations about offers and surveys, you have to consider that, in real estate purchases, a valid offer (and a valid acceptance too) must be written.
The simple fact that you're asking for a survey, doesn't mean you're making an offer and you do not need an offer to ask for a survey.
Otherwise, the fact that the vendor might allow you to do the survey, doesn't mean he accepts to sell you anything.
You're still in a pre-contractual phase: nobody is bound to buy and neither to sell, because you're still negotiating.
The only limit is good faith: both parties, during negotiations have to behave with "buona fede" (good faith), that is a legal term quite hard to explain in forum like this, but, in a capsule, it can be intended as the duty to "play fair".
So if if the vendor decides [I]unmotivately[/I] to interrupt the negotiations, you can act toward him, bfore a Tribunal, for the reparation of the damages (i.e. the cost of the survey), but you CANNOT ask the judge to force the vendor to sell you the house.
On the other hand, if [I]you[/I] interrupt unmotivately the negotiation, the vendor can only get the damages, but NOT the full price of the purchase.
This is because no contract has been signed, so nobody is bound.
Things are different, of course, if there is a compromesso signed or a written offer and a written acceptance: in this case is necessary to draw up the clauses Charles suggested
I have only a theoretical knowledge of the process, not having been through it yet, but I seem to recall someone on this forum once stating that you can make a preliminary offer with a clause built in that the sale will only go ahead subject to a satisfactory structural survey of the property - this will then allow you to back out of the deal if the property is not quite what it was marketed to be.