Hello, i am looking to buy a home in Italy. I have found a property and am ready to make a proposta. How do i make the deposit in a safe way?

I don't have a bank account yet so i can't draw a chck on an Italian bank. Has anybody got any suggestions? I am loath to just hand over a few 1000 euro to the real estate agent....

thanks

First you should have a lawyer representing you. Why is your lawyer not helping you at this point? If you do not have legal representation contact CJ on this forum or go to my website www.italysouth.org and pick a English Italian lawyer from my list in your region of Italy. Always request a real estate agent that speaks English to represent your own interests and contact your own lawyer first before handing over a deposit or signing any further documents. Ask the selling agent to bring you to an English speaking Notaio (Notary Public) in the (comune) town of purchase. Have the notaio witness the deposit transaction. Make the deposit with Euro traveler’s cheques which you can get at any local bank in your area. You must have a Codice fiscal number and remember do not to make a cash deposit! If you do not trust the agent or you are dealing with the sellers agent click on to this website http://www.remax.it/ we have offices in every region of Italy. Call my partner Claudio Aloise Cell: 338 8877289 or Office 0982 610735 from Remax in Calabria to help you.

The legal implications of paying a deposit depend on whether it is a deposito cauzionale or caparra. However, I would suggest that you do not pay any sums of money or sign any documents until you have carried out due diligence on the property. THIS IS IMPORTANT.

You will also need to get yourself a Codice Fiscale and open a bank account at some stage.

By law you have the right to select a Notary to deal with the completion formalities. I would stress moreover, that there is a lot of inconsistency among notaries so don't assume that they will do everything. They are public officials and as such, must remain impartial. If you appoint a lawyer to do the conveyancing, he or she can select and appoint the notary. You don't need to have an english speaking notary (it does help)because the Legge Notarile provides that foreign nationals who do not speak Italian must have an interpreter present during completion (Rogito). In any case, your lawyer in Italy can act as power of attorney for you, thus eliminating the extra cost of the interpreter. If you need any further information, you can contact me via www.luchettipartners.com.

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CJ
Magical Marche &
Luchetti & Partners Studio Legale Tributario