The very first question it may occur when purchasing property in Italy is how best to protect your own interest from all the pitfalls along the way.
The answer is quite simple: hiring the service of a trustworthy English-speaking Italian Solicitor who offers independent legal advice to an international clientele; and precisely an Italian law firm specialized in property law.
More in details, your Italian property Lawyer/Law Firm has to be:
The lawyer has to represent only your interest, with no conflict of interest so no business connection with the Seller (Owner, Developer) or the Realtor.
Having a specific in-depth understanding and experience about the Italian property law and Real Estate Industry; this is a crucial aspect to optimize the contractual terms and condition of the purchase.
Being able to fully understand the client concerns and inform accordingly.
Furthermore, there are other considerable advantages; in fact your lawyer has to:
- Explaining the Italian buying process
- Carrying on the Legal Due Diligence on the buyer behalf confirming if there are obstacles to transfer the ownership right; this is of crucial importance as the results of the legal checks very often show important information to be used during the negotiation
- Agreeing with the purchaser the buying strategy in the accordance with the results of the Legal Due Diligence
- Verying if the asking price of the property is correct showing information about similar transaction in the same area
- Representing the very best interest of the buyer
- Tax Planning, meaning to advice the client how to lower the fiscal impact of the transaction and also focusing on any tax issues related to the transfer that may affect the purchaser
- Drafting/Reviewing the contracts, binding, non-binding and ancillar documents involved in the transaction
- Assisting the client at closing, eventully also through a Limited Power of Attorney
This is our idea of a modern property lawyer: the professional guiding the client through the whole process acting in a valuable advisory capacity and adding value to the purchase.