In reply to A newbie all over again! by Annec
In reply to A newbie all over again! by Annec
I agree with the comment about using a registered agent. It is a good idea to do some research to be familiar with the process. I don't think there is reason for people to feel they are going to be 'stitched up' or 'ripped off' because they are foreign. Just take the same precautions you would at home.
If you didn't understand a contract in the UK, you would get a lawyer to look at it. Same here. You are certainly less likely to waste your money having surveys and starting legal processes and then find out the seller has pulled out or the chain collapsed. That definitely makes it less stressful!
Part of the contract when you buy a house says that the seller has to declare the property free from mortgage or debt and they confirm that no alterations were made after a certain date that did not have planning permission. As John says you are well covered in the contract and if something specific concerns you, you can have it written into the compromesso.
I must admit we did feel the nerves when we handed over all those thousands of euros and got no receipt :shock:
In reply to A newbie all over again! by Annec
Just to clarify....
We haven't signed anything yet or parted with a penny, the Estate Agent is sorting this out before we even sign the Proposta d'acquista ......this may be normal or we may be lucky..I really don't know.....but at least it has come to light right at the beginning of the process and if it isn't resolved, we can just walk away and find somewhere else.....
Lyn.......not as near to Puglia as she thought !!!!!
In reply to A newbie all over again! by Annec
I agree with the above points. When I carry out searches I nearly always find something that doesn't tie, perhaps 80% of the time. Sometimes they become real show stoppers and sometimes they give you leverage to go back and renegotiate price or get further concessions (which often happens).
Remember false declarations regarding the properties compliance with planning consents or building amnesties happen more often than you may think! The vendor's geometra will often slightly adjust the compromesso wording to cover themselves.
A lot of the time between preliminary and final contract of sale is used to sort out such issues. Right now I have a case with 15 illegal modifications that were conveniently forgotten about when the vendor put his house on the market. In this particular case, the buyer was pretty horrified and it will take up to 4-6 months to rectify the situation. In some areas it will become near to impossible to make further alterations to such a property (eg. add a pool) making it very important to know about such hidden pitfalls up front.
David
[url]www.ourtoscana.com[/url]
Searches
Submitted by Anonymous (not verified) on Fri, 02/18/2005 - 08:03In reply to A newbie all over again! by Annec
Alex Lyn
Some very useful and sensible comments from both Penny and David.
The contratto preliminare is often an underestimated part of the process and it is always best, especially of you don't understand the language, to have it checked by an independent person before signing on the dotted line. Remember this is a final contract. The term preliminary is a little misleading.
Moreover, it is rare for older properties to be without legal snags and it is always best to get them sorted before committing yourself. David makes a valid point when he says that the vendor or his/her representative adjusts the wording to cover themselves. All the more reason why you need an independent and expert eye to check the document.
Charles
In reply to A newbie all over again! by Annec
:D
8)
Thanks to everyone for all their comments, advise and experiences. We have taken on board all the info and adapted it to suit us.
We are beginning to feel we are on the right track now...perhaps a bit too cautious for some people, but we feel happy that we are being careful.
After all, the whole point of us retiring to Italy , is to enjoy ourselves now we finally have the time and energy. The last thing we need is unnecessary stress and anxiety...like most other people, we have had enough of that during our working lives and raising the sons and heirs !!!!
I'll let you know how things progress and how we handle it.......we're not ,for one moment, suggesting our way is right for everyone ...just feels right for us !!!!
Finally, we also think it worth mentioning how important and useful this Forum is.
Once again, Thankyou everyone.
Alex and Lyn
in general ....and there are no rules to say it must happen... the notary handling the final act would not have allowed the document to be signed if the sq m area you were buying did not match up with the listing of the building in the official record office... the agent or geometra knowing this would have to get it all legalised before being able to present it to the notary for signing... the italian property system unlike what i have heard say of the spanish one is really well covered under law... and i think you will find that say if you intend any building work or such you will understand the amount of rules and regulations that have to be followed here before you can do anything....
this is a good example of what should have been included in a compromesso.... that the room should be legalised....by a certain date set by you.... and that unless this was done the sale would not proceed....with the penalty clause in place this would make sure the present owner got on with the process very quickly to make sure he did not loose the sale and have to pay you money .... easy to look back .... hopefully it will all be resolved for you soon