Buying a house can be a very stressful undertaking especially if you are a first time buyer. There are so many houses available that prices have really hit rock bottom. First, you have to pay your real estate broker. If there are serious defects, bring these to the seller’s attention as needing repaired prior to sale, or negotiate the selling price down in compensation.
When problems occur, it’s worth making the effort to stay in touch with the seller via your solicitor and estate agent. So to light the way, we’ve got a guide to the real costs of buying a house in Italy as a foreigner from home-buying and renovation expert Gary Edwards from D&G Design , based in Le Marche.
Before hiring a real estate agent , find out about their track record, knowledge of your desired neighborhood and what their workload is like. Remember asking prices are often wildly optimistic, showing what the sellerÂ wantsÂ for the property, not what they’ll get.
The contract is not the final sale: it says if all goes wellâ€ you agree to buy the sellers house at the closing. Generally, we recommend you only consider buying a house if you plan to live there for at least five years, but this depends on a lot of factors, like the housing market, rental prices and how much equity you have in the house.
If you decide to work with a real estate agent, and that is usually the case if you don’t know anybody selling what you are looking for, you will have to pay a commission. Your conveyancer will lodge an interest in the property, enabling you to pay the seller, and apply to the Land Registry to transfer the deeds to your name.