In reply to A newbie all over again! by Annec
In reply to A newbie all over again! by Annec
[QUOTE=Frankie & Poppy]We have just come back from Italy where we have been searching for a property to purchase. Before going to Italy we were in touch with 'agents' who we found on the web. We have viewed a property that we would like to purchase through one of these agents. They speak very good English which feels like it may make the process easier and they have a number of contacts, architects, surveyors etc. We are wondering how we can make the necessary checks to ensure that these people are working in a legal way and that we may not, at the end of the day, lose our life savings! Does anybody have any advice?
They are clearly acting as brokers and are only acting for the buyer but should they be registered in some way and if so how can we find out if they are? Our contact with them to date has not made us suspicious but we feel we need to make sure before any money changes hands.
If anybody has any advice they can give us on this purchasing process and any safeguards we can employ we would be really grateful to hear from you.
Frankie & Poppy[/QUOTE]
Frankie & Poppy...
You will find some interesting debates on this subject here in Forum. Hopefully, these threads will be of help. If you could still do with help in understanding the process then feel free to send me a pm.
Godd luck.
Italian Solicitors
Submitted by Anonymous (not verified) on Sun, 10/30/2005 - 08:46In reply to A newbie all over again! by Annec
[QUOTE=Frankie & Poppy] We are wondering how we can make the necessary checks to ensure that these people are working in a legal way and that we may not, at the end of the day, lose our life savings! Does anybody have any advice?
They are clearly acting as brokers and are only acting for the buyer but should they be registered in some way and if so how can we find out if they are? Our contact with them to date has not made us suspicious but we feel we need to make sure before any money changes hands.
If anybody has any advice they can give us on this purchasing process and any safeguards we can employ we would be really grateful to hear from you.
Frankie & Poppy[/QUOTE]
Hello and welcome to the forum! This topic has been discussed before in the Legal Section, and Charles has given some interesting advice in relation to how to ensure that the estate agent is a mediatore or -at least- registered with the Comune. I do not think that the English brokers you have met are estate agents under Italian law but they will maybe find you an Italian estate agent and a Vendor.
The ONLY way you can buy safely from a legal point of view is, as many have suggested in the forum, to appoint an independent solicitor to act on your behalf. The cost varies from £1500 to several ££££, and the benefits of appointing an Italian-based or a UK-based solicitor have also been discussed at great lenght:
1) Italian-based solicitor: Pros: he knows the area, he knows the estate agent (maybe?) Cons: he may not speak English, he may not carry professional indemnity insurance (not compulsory in Italy)
2) UK-Based Italian Solicitors: Pros: they work (or should work!) according to British standards, they are regulated by the English Law Society, they (should) speak fluent English and they MUST carry prof indemnity insurance up to £1M. Cons: they are (maybe) more expensive as they apply UK tariffs. We have been quoted £1750, which is less than 1% of the purchase price but I think that the average cost of an UK Based (Italian) Solicitor is in the region of £1500 (fixed fee and including coveyancing and tax advise)- not a price that would break the bank :eek:
Whoever you decide to appoint, remember what George says:
"Basically, keep your wits about you, if you are at all unsure, use a solicitor recommended here, not by the "agent" (again, use search). Good Luck."
In other words, don't fall for the usual trick that the estate agent will draft the compromesso and the proposta, or that he will carry out the conveyancing for you (land registry searches etc) because HE WORKS AND IS PAID FOR by the Vendor (and by you of course) but [COLOR=DarkOrange][FONT=Garamond]THE ESTATE AGENT ONLY GETS PAID IF THE PROPERTY IS SOLD[/FONT][/COLOR] and therefore he is not in a position to give you independent advice. Your solicitor instead, is paid regardless of whether you buy the house or not, but from a practical point of view it is always better paying £1K to a solicitor who tells you NOT to buy a house (if there is any problem with it) than paying £100K to a Vendor and then realising that your purchase is void: there is a massive debt against the property, there is a charge in favour of a Bank, your new neighbours have pre emption rights over the land, and so on. This would be the major reason to lose your life savings!
These are all the activities which are usually carried out by a Solicitor, and I would have never bought my property in Abruzzo without independent legal advice (and the help/idea of everyone in the Italy Mag forum!! :) :) :) )
We have appointed Giambrone & Law ([url]www.giambronelaw.co.uk[/url]) as they come very highly recommended in this forum and they were also recommended by the Law Society ([url]www.lawsoc.org.uk[/url]) but there are about 2-3 firms of solicitors in the Uk which practice Italian law.
Good luck and send me an email if you want more help about your purchase
In reply to A newbie all over again! by Annec
Well said Laura, couldn't have said it better! :D
In reply to A newbie all over again! by Annec
:D We seem to be on the same wavelenght as I have just complimented you on a different thread!! How bizarre!
:D
In reply to A newbie all over again! by Annec
[QUOTE=Laura72]:D We seem to be on the same wavelenght as I have just complimented you on a different thread!! How bizarre!
:D[/QUOTE]
In the last scene of Casablanca Rick (Bogart) says to capt. Renoir:
"This is the beginning of a beautiful friendship"
well, this is my english translation of the italian version of the movie, I ignore how it was in the original :D
In reply to A newbie all over again! by Annec
Giambrone's price is plus VAT
JHowell are 1500 inc.
Giambrone - allow you to contact them more - but I received no plans by the time I signed the Rogito - I had to get it at the table from the Vendor.
So I dont know who is best.
In reply to A newbie all over again! by Annec
I find this thread quite interesting. Firstly I just want to say hello to George, l hope you are well. ;)
When buying a property abroad I have always found that using an English based broker/agent no different to a local agent. Having followed various threads on this topic and legalities of who sells what I see it this way. I would be interested in Charles Joseph's feelings as I always find his contributions very good.
Some Italian agents, like agents in other countries, don't like it when foriegn companies receive instructions to sell properties in their part of the world. There is nothing to stop an Englishman instructing an Italian company to sell his house/bar/shop/etc in England to the Italian market and beyond and vice versa. I feel a lot of people are fooled by the term "registered estate agent". I believe that in Italy as in many countries anyone off the street can become a "registered estate agent" with an O Level or two and a relatively simple exam after a few months. What guarantee does that really give you. If they behave incorrectly you just end up in the middle of a legal system which I don't believe moves very fast. Some English companies will be superior to their counterparts in Italy, Spain, Portugal.
There is no need to be constantly suspicious but yes keep your guard up. Basically what I have always done when buying abroad is to ask the English broker or local agent for a list of their English clients and contact numbers. If they have a good reputation and deliver what they promise they will have no problem giving you ten names. Two companies regularly use me to give references to their potential clients and I am more than happy to do so. I don't fall for those corny testimonials many companies put on web sites. I want to speak to past clients. Also any company which advertises regularly and has done so for a sustained period should give a good indication to their stability. When I think of Italian property I always think of Brian French as I have always seen his adverts.
I have used local solicitors on foriegn shores recommended by my agents as I was happy they did not want problems and therefore would recommend well and the firms I was introduced to were usually the best in town.
The bottom line i.m.h.o. is that there are a lot of very good British and foreign companies you can use when buying a property. you just need to take your time and find the one who lives up to its promises.
In reply to A newbie all over again! by Annec
Martin,
Although most of the property related problems we so often discuss here on Forum are diverse, there appears to be a common thread running through the vast majority of “disasters”, namely, the poor level of service provided by the real estate agency involved in the transaction.
Unfortunately, the growing appetite for properties in Italy (and most likely in other parts of Europe as well) has given rise to a number of unprofessional operators, and whether they be locally or internationally based, licensed or otherwise, many do not to have the right mix of knowledge, attitude, skills, qualifications and experience.
You are quite right about the exam. Being iscritto nel ruolo helps, but it is certainly not a foolproof guarantee. New legislation was introduced in 1989 in order to reform the category known as mediazione and to ensure greater levels of professionalism - whilst at the same time reducing the level of abusivismo. But the problem continues to exist, mainly because there is an ineffective system of governance (although if you read all the relevant manuals, the authors would have you believe otherwise). Industry organisations continue to fight against abusivismo in Italy, but some of the things that go on are perfectly outrageous and somewhat disturbing, especially to the vast number of Italian estate agents who do their job professionally, diligently and competently.
I think there are good and bad wherever you go and it would be invidious to try and claim that all international agents/brokers are better than local ones. Without prejudice to Brian French, long before I got involved in this business, a friend of mine wanted to sell his house in Tuscany and asked for my help in finding an international agency to take on the sale. Scanning the many property magazines at the time I too was impressed by their advert. However, the actual service my friend received was a total disappointment.
This brings me on to my next point. I was reading an interesting article in the Times recently in which the columnist referred to some research concerning marketing material for estate agents. Apparently, 90 per cent of the respondents participating in the survey said that they would choose an agent just by the quality of their marketing materials. Honestly though, adverts that look good certainly help, but what really counts is the substance behind them. What use is a nice ad or fancy helpdesk when you can’t even tell the difference between the caparra penitenziale and a deposito cauzionale for example!
I agree with your point about obtaining references. In fact, whether we are selling or renovating properties we always like to provide references to our potential clients. We are very fussy about the service we provide and are not willing to sacrifice reputation by making false claims.
I also agree with your bottom line. It is very valid point!
In reply to A newbie all over again! by Annec
[QUOTE=martin ware]I find this thread quite interesting. Firstly I just want to say hello to George, l hope you are well. ;)
When I think of Italian property I always think of Brian French as I have always seen his adverts.
.[/QUOTE]
I'm well thanks Martin :) I trust you are too.
I, also without prejudice saw the same adverts and used Brian French for my purchase. I am unable to recommend a good agent or agency from my personal experience.
In reply to A newbie all over again! by Annec
Hello George, I am very well. Thankyou for asking.
Thanks Charles for your reply.
Just to clarify I was saying that I have treated both local and English based firms equally. As regards the likes of Brian French I have no personal experience but I was more leaning to the fact of the company's long time presence in the marketplace (or any similar company) should mean you buy safely albiet not always with the service you might have expected.
Goodnight all!!
In reply to A newbie all over again! by Annec
[QUOTE=martin ware] As regards the likes of Brian French I have no personal experience but I was more leaning to the fact of the company's long time presence in the marketplace (or any similar company) should mean you buy safely albiet not always with the service you might have expected.
Goodnight all!![/QUOTE]
[color=black]Well that’s a pretty stupid recommendation then. Service is rather important don't you think? And just because they have been around a while doesn't prove how safe they are at all, it may mean that they got away with unsafe practice because so many buyers just go with what ever the agent tells them. [/color]
[color=black] [/color]
[color=black]This point does not directly relate to Brian French in anyway, as I have never even heard of them until your post.[/color]
In reply to A newbie all over again! by Annec
[QUOTE=trullomartinafranca][color=black]Well that’s a pretty stupid recommendation then. Service is rather important don't you think? And just because they have been around a while doesn't prove how safe they are at all, it may mean that they got away with unsafe practice because so many buyers just go with what ever the agent tells them. [/color]
[color=black] [/color]
[color=black]This point does not directly relate to Brian French in anyway, as I have never even heard of them until your post.[/color][/QUOTE]
I find your reply needlessly aggressive. This thread was on how to buy safely. I had used Brian French or the like as an example of a company long established as at least offering you the security that they have been trading for so long they must be doing what they do in a correct manner. Brian French & Assoc are established since 1972 so I doubt they have been getting away with unsafe or irregular practice for over three decades. :cool:
If you had read my previous post all I referred to was the importance of service. It appears you didn't have the time to do so or follow this thread and what it is about. :confused:
Just to recap I was using Brian French as a generic example of a long established company. Apart from most magazines they have appeared in the Home section of the Sunday Times every Sunday for as long as I can remember so unless you do not read magazines or newspapers it is difficult not to have heard of them. :rolleyes:
Methinks that that trullo has turned you into a bit of a conehead!!! :D
In reply to A newbie all over again! by Annec
[QUOTE=martin ware]
Methinks that that trullo has turned you into a bit of a conehead!!! :D[/QUOTE]
What was that spoof sci-fi film with 'coneheads' in?
Movie
Submitted by Anonymous (not verified) on Wed, 11/02/2005 - 07:41In reply to A newbie all over again! by Annec
[QUOTE=alan haynes]What was that spoof sci-fi film with 'coneheads' in?[/QUOTE]
Dan Aykroyd - 'Coneheads' - 1993.
[URL][url="http://www.imdb.com/title/tt0106598/"]http://www.imdb.com/title/tt0106598/[/url][/URL]
[url="http://www.imdb.com/title/tt0106598/"][/url]
In reply to A newbie all over again! by Annec
[QUOTE=martin ware]I find your reply needlessly aggressive. This thread was on how to buy safely. I had used Brian French or the like as an example of a company long established as at least offering you the security that they have been trading for so long they must be doing what they do in a correct manner. Brian French & Assoc are established since 1972 so I doubt they have been getting away with unsafe or irregular practice for over three decades.
If you had read my previous post all I referred to was the importance of service. It appears you didn't have the time to do so or follow this thread and what it is about.
Just to recap I was using Brian French as a generic example of a long established company. Apart from most magazines they have appeared in the Home section of the Sunday Times every Sunday for as long as I can remember so unless you do not read magazines or newspapers it is difficult not to have heard of them.
Methinks that that trullo has turned you into a bit of a conehead!!! [/QUOTE]
[color=black]If you take it to be aggressive then sorry, just thought it was silly to name a company that you haven’t even had experience of, especially as others have indicated that the service wasn’t that good. If you think of the number of people just on here that have not had good experiences and then find out how many have actually raised their concern publicly, it would not be that many. If you read adriatica’s post on litigation you may see where I’m coming from. In England it is still a lot of hassle to take someone to court it would depend very much on the situation. I know of a person that lost £22,000 and another who lost about £5000 but neither would take it any further. For various reasons bad service is not always exposed. Yep, guess after 30 odd years they probably are ok but would rather go with your other suggestion of 10 recommendations. Incidentally, it wasn’t me who lost the money because I removed my conehead for a few seconds and got a lawyer involved. [/color]
[color=black]I’m also sorry that I don’t remember every agent that advertises and for not reading the Sunday Times. Yes I am a dunce about buying property abroad, have not had a good experience and that’s why I’m concerned for others and felt that your suggestion may not be the safest approach. [/color]
[color=black]Even with researching the subject previous to purchase, it was not until I found this forum that the whole story of buying in Italy became much clearer, but then I don’t read enough obviously. [img]http://www.italymag.co.uk/forums/images/smilies/biggrin.gif[/img] [/color]
I see you gain pleasure in trying to belittle people that are only showing concern about what really goes on and what could go wrong. This is not encouraging for any new poster that may have a point but does not wish to be treated this way. :(
In reply to A newbie all over again! by Annec
Dear TrulloMF
The last thing I would do is try to belittle anyone and I have purely added some thoughts to which I asked Charles (whose opinion I always read with great interest) to reply with his thoughts. In as many words I was not saying my opinion was gospel.
My posts were from my experience and to hopefully help people. I don't believe any of them put anyone in danger.
I would not consider myself a new poster as I read the forum regularly, but only write when I see a topic that really interest me. I hope my old adversary George would vouch for that!!
I think such an established poster as yourself should know better as you could scare off any new poster with your direct missile accusation attacks of stupidity. :confused:
In reply to A newbie all over again! by Annec
[color=black]Can we move on from the “stupid” and “conehead” bit, I did apologise. [/color]
[color=black]I still do not believe length of service justifies safety. Using and example from my own profession, a nurse may have been practicing for 30 years but hasn't kept herself up to date and her practice could be risky but peers are reluctant to whistle blow because of the consequences etc, so she continues to practice. Whereas another, has been practicing for 3 years but is extremely competent and uses recent evidence based practice.[/color]
[color=black][font=Arial][font=Times New Roman][font=Verdana][size=2]You have to remember that you are an experienced property buyer and more likely to smell a rat.[/size][/font] [/font][/font][/color]
[color=black][size=2]Your point about 10 recommendations would be better for instance Magical Marche has not been in business for that many years but the information gained from Charles combined with recommendations from others [color=black]indicates safe practice.[/color][/size][/color]
In reply to A newbie all over again! by Annec
Just to add to TMF's example, the nurse could have trained in midwifery in England thirty years ago, then sold his/her name to someone else who wanted to recommend Italian shepherds to do brain surgery.
As for the "old adversary bit,
Martin does indeed tend to involve himself in a limited number of discussions, and, he does argue his point well, although, I cannot help but get a mental image of William Hague making his 16 years old's speech to the Tory Party conference, with dear old Margaret looking on nodding sagely, every time I read one of his posts (that COULD be a compliment by the way ;) )
In reply to A newbie all over again! by Annec
[QUOTE=trullomartinafranca][color=black]Can we move on from the “stupid” and “conehead” bit, I did apologise. [/color]
[color=black]I still do not believe length of service justifies safety. Using and example from my own profession, a nurse may have been practicing for 30 years but hasn't kept herself up to date and her practice could be risky but peers are reluctant to whistle blow because of the consequences etc, so she continues to practice. Whereas another, has been practicing for 3 years but is extremely competent and uses recent evidence based practice.[/color]
[color=black][font=Arial][font=Times New Roman][font=Verdana][size=2]You have to remember that you are an experienced property buyer and more likely to smell a rat.[/size][/font] [/font][/font][/color]
[color=black][size=2]Your point about 10 recommendations would be better for instance Magical Marche has not been in business for years but the information gained from Charles combined with recommendations from others [color=black]indicates safe practice.[/color][/size][/color][/QUOTE]
I do agree totally with all of your above points. Some of the newer companies will be better due to more dynamism, incentive to succeed, fresh ideas and more.
Generally I like to say, brainstorm a bit, and see things from as many angles as possible. I am 100% on the side of the consumer and hope that everyone buys property in the safest pain free way.
I hope you didn't take any offence about my trullo-conehead line. It was purely meant as light hearted humour, a bit Blackadder like. :o
In reply to A newbie all over again! by Annec
[QUOTE=martin ware]I do agree totally with all of your above points. Some of the newer companies will be better due to more dynamism, incentive to succeed, fresh ideas and more.
Generally I like to say, brainstorm a bit, and see things from as many angles as possible. I am 100% on the side of the consumer and hope that everyone buys property in the safest pain free way.
I hope you didn't take any offence about my trullo-conehead line. It was purely meant as light hearted humour, a bit Blackadder like. :o[/QUOTE]
Great we agree! :D and yes communication on here can be taken out of context. My husband is also a blackadder fan, maybe thats why we argue too! ;)
In reply to A newbie all over again! by Annec
[QUOTE=GeorgeS]
Martin does indeed tend to involve himself in a limited number of discussions, and, he does argue his point well, although, I cannot help but get a mental image of William Hague making his 16 years old's speech to the Tory Party conference, with dear old Margaret looking on nodding sagely, every time I read one of his posts (that COULD be a compliment by the way ;) )[/QUOTE]
Why thank you George, I will take it as a compliment!! :D
I'm glad TrulloMF has seen we are on the same side and whilst I take topics very seriously when needed I do like to [U]attempt[/U] a bit of dry humour every now and then.
It is the lifeline of any forum that people will disagree and discuss and disagree again but there shouldn't ever be any real bad feeling as it is only, after all, an internet discussion forum for us to pass some time, hopefully help a few people and enjoy ourselves.
In reply to A newbie all over again! by Annec
[QUOTE=GeorgeS]Just to add to TMF's example, the nurse could have trained in midwifery in England thirty years ago, then sold his/her name to someone else who wanted to recommend Italian shepherds to do brain surgery.[/QUOTE]
George,
That’s a brilliant idea, sell my registration for loads and retire to Italy! :D
But hey, I don’t believe in dodgy deals or poor service, as you may have gathered so that idea out the window! :(
So back to thread “How to buy safely” Any further suggestions anyone? :confused:
In reply to A newbie all over again! by Annec
[QUOTE=trullomartinafranca]George,
That’s a brilliant idea, sell my registration for loads and retire to Italy! :D
But hey, I don’t believe in dodgy deals or poor service, as you may have gathered so that idea out the window! :(
So back to thread “How to buy safely” Any further suggestions anyone? :confused:[/QUOTE]
I cannot recommend an Agent, I do not believe that they are all bad, I think the only way the "average" english speaking buyer over here can protect themselves is to follow a couple of simple rules.
Research the types of properties you are interested in, and the area which interests you.
Try to have a NON HOUSE VIEWING visit or two
book a limited number of viewings, then, with the Rose coloured glasses firmly in your pocket, take a LONG, HARD look at the property.
Review your budget
Appoint an English speaking solicitor who understands buying over here.
DO NOT assume you will find work here after your move, nor, that people will be knocking at youe B&B door on the night you open for business-
I get the feeling that there are more "sharks" around in Italy these days, just ready to take your money away from you which is a great shame, because this really is a lovely place to live.
I know many people will disregard this post, but, at least,
APPOINT AN ENGLISH SPEAKING SOLICITOR WHO UNDERSTANDS THIS MARKET BEFORE YOU SIGN ANYTHING...
In reply to A newbie all over again! by Annec
Wise words George! Thank you very much for this valuable posting. Putting out
hard earned money to buy a home is a major investment. Better to be safe than sorry.
George Rules
Submitted by Anonymous (not verified) on Sat, 11/05/2005 - 17:23In reply to A newbie all over again! by Annec
[size=3][color=black][size=2]Yep, that’s exactly the conclusion we’ve come to and have noted that the rise in “sharks” appears to have an increasing number of English females involved. Great isn’t it, not only are we battling our way through the mine field of Italian property buying but have to fend off our own countryWOmen! [/size][/color]
[color=black][size=2]Just need to add "use multiple recommendations" to George's list. [/size][/color]
[color=black][size=2]Still our little Trullo is worth it, when we finally get it, still sorting out pre-emption problems that was supposedly sorted out months ago! [/size][/color]
[color=black][size=2]Our recommended lawyer has had to start all over again with this problem but we are getting there! [/size][/color]
[color=black][size=2]APPOINT AN ENGLISH SPEAKING SOLICITOR WHO UNDERSTANDS THIS MARKET BEFORE YOU SIGN ANYTHING...[/size][/color]
[/size]
advice on agents tactics
Submitted by Anonymous (not verified) on Sun, 11/06/2005 - 06:35In reply to A newbie all over again! by Annec
I feel like I am intruding on a private conversation here but to take us back to the start of the thread.....In March when we started looking at houses we were sooo.. niave about agents it makes me cringe!
What we have learnt is
1.Never assume that the agent really has all the information on the house you may want to buy ie if you have cellars or outbuildings they may not actually belong to you if you buy even if they are a part of your house!I met someone on the last trip this had happened to. Check yourself or insist they do and a plan of everthing for the compromesso.
3.Any promises of grants for renovations are probably based hype to make you buy.Ask in the comune if there are any.As has been said here on the forum the chances are very low.
4.If you buy in a very small village or town where you are close to other people don't take the agent's word for how friendly/quiet /helpful your neighbours may be. Always go there without the agents and at night and check for noise and barking dogs! if you are the only outsiders buying there you are going to be the focus of a great deal of interest.Great if that's what you want but a big culture shock if you've lived in a village in UK where privacy is respected and noise not tolerated after 11pm! Also we saw a great deal of poverty in some of the little villages so if you arrive in your 4x4 appearing to be a well off Brit you will be resented.
5.Don't let the agent persuade you to offer a price near the asking price esp for a rustico,there's tons out there.I think 70% is the norm in Abruzzo (of the asking price).Don't be afraid to put in a 'silly offer' if there's lots of work to do.
6.Always be firm but polite as aggression will not help your case and may well
lead to you recieving a poorer service.Things are much slower in Italy! And misunderstandings do happen so don't just assume all agents are out cheat you! try to sort things out in person or by phoning first before you involve lawyers I think this is how Italy operates!
Well thats my views for what they are worth!
In reply to A newbie all over again! by Annec
Hello manopello,
Thank you very much for sharing your points of view based on experience. Putting your well organized thoughts down, and listing them out makes
what you've written easy to read and understand. Very appreciated and well done!
In reply to A newbie all over again! by Annec
[QUOTE=manopello] 4.....Also we saw a great deal of poverty in some of the little villages so if you arrive in your 4x4 appearing to be a well off Brit you will be resented.
5.Don't let the agent persuade you to offer a price near the asking price esp for a rustico,there's tons out there.I think 70% is the norm in Abruzzo (of the asking price).Don't be afraid to put in a 'silly offer' if there's lots of work to do.
[/QUOTE]
Most of us on this site are potential buyers but if we buy in poor rural areas what effect will we be having on property prices and on that rural society?
On another thread I asked the question: if an agent buys a property at 10 and sells it at 15 (thus making a 50% profit on top of his commission) who has been defrauded - buyer or seller? The situation we have now where quite a few buyers have budgets vastly in excess of the sellers' expectations is not sustainable - is it?
In reply to A newbie all over again! by Annec
[QUOTE=sdoj]Most of us on this site are potential buyers but if we buy in poor rural areas what effect will we be having on property prices and on that rural society?
On another thread I asked the question: if an agent buys a property at 10 and sells it at 15 (thus making a 50% profit on top of his commission) who has been defrauded - buyer or seller? The situation we have now where quite a few buyers have budgets vastly in excess of the sellers' expectations is not sustainable - is it?[/QUOTE]
Exactly right Stoj, but who is fuelling this trend - the buyers, sellers or the agents???
Rob
In reply to A newbie all over again! by Annec
[QUOTE=Rob]Exactly right Stoj, but who is fuelling this trend - the buyers, sellers or the agents???
Rob[/QUOTE]
If the trend you are referring to is the inflationary trend in house prices then I would say it is being fuelled by the spending power of potential buyers and exploited by some unscrupulous agents.
poor rural areas
Submitted by Anonymous (not verified) on Mon, 11/07/2005 - 06:11In reply to A newbie all over again! by Annec
thanks for your nice comments greatscott!
I too worry about the impact the Brits will have on rural areas of Italy. Coming from Cornwall where in 1980's you could by an old cottage for £20,000 and most people were farmers or hippies I have experience of this!
The difference is that in Italy the type of old properties that Brits like are not popular with Italians.The chances of the old family rustico with no running water or electricity being sold to a local in Abruzzo are pretty slim so I think that by buying it ourselves we are helping out some pretty poor people who'd be stuck with the property otherwise.
Things are changing with some younger Italians who want to return to a more simple lifestyle and they will find it difficult in some areas to find cheap property.But there are so many delapidated houses arround I can't see it ever being as big a problem as it is in the UK.
The best thing we can do is to not be fooled into paying more than we should do for a property.It's really hard as to us £30,000 for a little rustico seems such a bargin compared with the UK but in Abruzzo it may only be worth £15,000 on the local market.Just speak to a local to find out what the prices in the area are really like.....not an agent!!
Becky
Advice in general
Submitted by Anonymous (not verified) on Mon, 11/07/2005 - 14:45In reply to A newbie all over again! by Annec
I agree that most of the people on this forum are buyers or potential buyers. What is important to bear in mind is the advice given by fellow Senators on here, who all agree and repeat the same advice (GeorgeS, TMFranca, Charles Josephs):
1) do not sign any documents until you instruct a solicitor
2) do not instruct a solicitor who does not speak English or you would need to pay someone else to translate
3) use common sense and do not throw money away "because it's a house abroad"! :)
I remember that when I joined this forum, we were recommended these few tips, and we followed the advice almost litterally. We were recommended Giambrone & Law by other users, they managed to negotiate a substantial reduction off the asking price, and all the advice has been in plain, simple English. Mostly by email and over the phone.
I must admit that I feel much safer knowing that professional advisers are taking complete care of the process. Is Bryan French another firm of Italian solicitors in the UK?
Hi, welcome to the board, if you look at the dark blue bar at the top of the page, you will see search, click it, the type in "agents", this will bring up the threads already dealing with the problem. Basically, keep your wits about you, if you are at all unsure, use a solicitor recommended here, not by the "agent" (again, use search). Good Luck.