ITALY - How to buy property in Italy: The process

Did you know that the process of buying a property in Italy only takes six months? This means that you may be able to purchase your dream home sooner than you think — especially if you follow our timeline of how to buy below.

Start by thinking of the date you'd prefer to make the big move. By working back from moving day instead of forwards, you can plan sensibly with a deadline in mind. With a fixed date in mind, you can work backwards to plan your purchasing process following the timeline below.

Six months to go

1. Start your planning by sitting down and thinking about your reasons for moving, as well as where you want to buy and what type of property you want to buy.
2. Begin to assemble your team of moving professionals, including an estate agent, solicitor, and a currency specialist. You may also wish to contact a mortgage adviser and financial adviser. These are the people who will ensure things run smoothly.
3. Evaluate your finance options and set yourself a budget.

Five months to go

1. Start your search for property for sale in Italy. You should also think about how to structure any deal for your home, so you can act quickly if necessary.
2. Get your codice fiscal and open an Italian bank account.

Four months to go

1. Talk your options over with your estate agent while booking a viewing trip.
2. Sit down with your team and cover all the aspects of your property purchase to ensure everything is in place. Take care to speak to your solicitor and currency specialist to check your deposit and legal structure are ready to go.

Three months to go

1. Begin organising meetings with specialists that can help you with specific areas of your move, including inheritance laws, property taxes, and removals.
2. Book in extra viewing trips, if necessary, and make an offer when you discover your dream property in Italy.
3. Consider signing a proposta di acquisto (purchase proposal), which is a declaration that you want to purchase the property at a certain price. This is a commitment to buy, but the seller isn't obliged to accept.
4. Once you've made an offer, you will need to arrange a contract with a notaio (notary), who will observe the deal on behalf of the Italian state.
5. Make arrangements on how you will transfer the funds for purchase. It's advisable to use a forward contract through your currency specialist, which will fix the exchange rate for 12 months. This way, if the rate drops, you'll be locked in and won't need to pay more.

Two months to go

1. You'll need to sign your preliminary contract — the contratto preliminare — that is also signed by the seller to signify the sale will go ahead. At this stage you will also pay your deposit (caparra).
2. Yours and the seller's solicitor will work with the notary to verify the paperwork, which can take a few weeks. You can use this period to plan any new decorations and renovation, as well as ensuring you're all set to get utilities connected.
3. Lastly, you need to attend the notary office alongside the seller to sign the atto pubblico di compravendita (public deed of sale) and the final payment is made. You can then start your brand new life in Italy!