Housearounditaly

[Chukkie]

To be clear - this is important - unless the vendor is unable to complete, you will forfeit your deposit in full if you back out after signing the compromesso. Check with any lawyer!

[estherina34]

mille grazie once gain guys and gals...xx

[miolas]

Hi Chukkie!

Thanks for the corrections ;-)

I obviously still need to check that Compromesso thing more in detail from a certified law specialist (are you one yourself, BTW?) , if it ever becomes relevant to us again.

What I basically meat (and excuse my wording here, legally binding was not best term for this, i.e. not accurate), is that signing the compromesso kicks-off the process with the notary to find out all relevant points related of the deal.

E.g. who owns the land the house is built on, who actually & officially owns the property, debs or other limitations related to the property, links to the land registry etc.

Also the house condition check (if one decides to take one) done by a local Geometra takes place at this stage, if not done earlier.

From buyers perspective it is thus possible, if real problems found related to the property exist, still at this stage withdraw from the deal. So, you are 100% right, the Compromesso is legally binding and should be treated as such. My intention was not to undermine it in any way, with all my respect to Italian law.

But it is not as final (as the word says) as the Final Act, after which changing ones mind is no longer possible, being sealed & singed by an official govement notary.

Sorry for being vague in my wording and using the word legally binding incorrectly. :-)

FIAP is an organization giving ethical guidelines of doing real estate business, so agree that some members might naturally interpret their advices their own way.

Nevertheless, I think their members are quite clear on what fees are charged etc., an important point for a customer coming from outside Italy, not knowing the local customs.

Also, an agent wishing to be part of these type of etchical guidelines & financial visibility is a good sign to my mind. The FIAP webpages pretty well describes what they do & suggest their members to do.

My best advise still is to go with an agency with positive comments from previous customers. That usually is a pretty good guarantee in any purchasing activity, though not 100%. As nothing in life. ;-)

Cheers & good luck to all with house hunt to all !
Your own rare pearl is somewhere there.. :-)

[Chukkie]

I am not a lawyer but have specialised in the Italian property market for over twenty years and have been involved in hundreds of transactions. I agree with all your sentiments! What you say is true in effect but let's be clear about the compromesso. The searches you mention should be done BEFORE you sign, at least a check on ownership etc. and if you want a structural survey get it done before you sign. You can only withdraw if the vendor is unable to complete under the terms of the compromesso - ie. he is unable to deliver to you what he has promised to deliver to you. That is your only way out. Take a look at my home site maybe.

Happy hunting.

[miolas]

Fortunately we are already done with your hunting :-), time to enjoy the fruits of it now ! Thanks for you infos, one never knows too much .. :-) Be the force (& a bit of luck) with you, those who are still looking... Have a good fall!

I bought a house with them a year ago - got ripped off with the translator fee - 500 eu to translate a document a few pages long - which he hadnt translated but a girl in the notarys office had. It should have come out of their fee.

On the day - lots of money had to be paid in cash which had not been mentioned before hand -

The survey you get done through romalo - nice guy but useless as a suveyor is not worth the paper its written on. I was told the roof need a few tiles replacing and am now having to redo the whole roof - he just looked at it through a window. I never got the plans for the house inspite of numerous letters requesting them and having paid extra for them.

I have heard stories of their agents buying up cheap property and then selling it on at a high price and of people being blackamiled to get more dosh at last min.

Not a very proffesional set up at all

[abruzzoliz]

so brilliant to hear another tale of woe! I agree about Romolo, very nice and tried to be helpful but again lots of things wrong in my survey. I had about 12 amounts of cash and cheques to provide on completion with no explanation and a much much lower figure on the contract than i paid. Sadly there seems little one can do about it or to protect others from what basicly is sharp practice all around. Liz

[Chukkie]

When did your purchases take place? It is completely illegal to use cash and to under-declare the price on the deed. Why don't you go to the Chamber of Commerce and complain? Otherwise they will continue to get away with it.

I agree - but when you have just spent a few hundred quid on flights etc and you suddenly find you have to cough up significant amounts of cash - incl the Notary you end up having to go through with it. I now have a house I paid a few thousand pounds less for on paper - which means its me who has to pay more tax if I dont do the same.

One person I know - had the Notary try to extort more money out of her - said they had not calculated the taxes properly - her name is Clair and I think she has made a website about it.

I have heard other people complain they wouldnt tell you how much tax you had to pay and then got stung on the day.

Whatever - they are totally un proffesional - BUT I did get my house and I do like it .....I would just advise people to avoid them - Their agent Gianni is really good - but some of the rest of them are sharks.

[dario]

How I understand you all and your tales of woe when facing the italian property market.
It is a shark's game and my best advice is, when you buy in italy and sign the "compromesso", include everything you can possibily think of in the contract. Unfortunately the compromesso is often drafted by people who don't really have the right qualifications or a legal way of thinking and the result is often a series of disappointments and anger because they do it in a very mechanical way and leave out a lot of information which I think ought to be included.

Get a lawyer or get a few crates of magnesia tablets!

(SNIP)