'House Doctor* has yet to reach this region, giving you a great opportunity to buy an unmodernised property at a realistic price. 

"It is often true that the next area to come up is likely to be next door to an already popular area...This is called the ripple effect." Sarah Beeny, Property Ladder ** 

Each region in Italy has a different rate per square meter of renovations and new build costs. In the region of Penne new builds, dependant on materials and finishes on a basic rate per square meter is 1.200 euros. On renovations this can vary quite dramatically i.e; dependant on what extent the renovation requires a standard renovation excluding structural works is around 700 euros per square meter. Because the property is relatively cheaper in the region of Abruzzo, don’t let that fool you into believing that the renovation or refurbishment is going to be cheap. We think you should get a well recommended builder to evaluate the costs of the re-building/renovating prior to purchasing.

First stage 

Find the area or type of property you would like to buy. 

Your price range.

When you have found a property you want to buy it is best to satisfy yourself at this stage with any queries you may have.

Get a builder to give you an estimate of cost of works.

If you have decided to seek independant legal advice, this is the point to let your legal representative get involved in the process.

Ask your lawyer for a schedule of usual fees for the purchase.

Decide on how much you want to pay.

Is the purchase dependant on a mortgage ? This can be built into the contract.

List important details that are a condition of you buying the property.

Decide on the deposit that you want to make (non returnable if you pull out or don't complete the sale in time).

Open an Italian Bank account.

Get a tax code, codice fiscale.

Decide on a time you want to complete the purchase.

Then you will sign an agreement to buy 'Compromesso'

Once the seller accepts this, is as binding as 'exchange of contracts' in England.

The Compromesso - which your agent will organise with the notary to iron out any problems early on, Will usually include the following;

The property details. 

The names of buyer and seller. 

The purchase price and the terms of its payment. 

The date of completion - when you will go to the Notary.

The size of the deposit payable with the contract, usually 20%.

The final agreement to be signed at the Notary is called a 'Compravendita'. 

If you are not fluent in Italian you must by law pay for a translator to translate the 'Compravendita' and to be present at the Notary, so that you fully understand what you are entering into.

Organise your home insurance.

Then sit back, and get all the finances in place for the Notary appointment.

Some (not exhaustive) things that may differ from buying say, in the UK.

Unless stipulated;

The sellers will strip the house of everything, including the kitchen.

Or on the other extreme, they may leave everything, including rubbish, right down to the toothbrushes in the bathroom.

The offer is binding.

*copyright channel 5.

**Copyright Talkback productions 2002

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