Buying a house is always a big step in everybody’s life. And it’s the same when a person sells a property because there are many different things taking part in the process: the investment, the transformation of his assets, the necessity of a change. In both cases selling and buying a property has to be taken seriously.
In fact buying and selling a real estate property is a complex and very detailed transaction which can not be carried out without the advise of an expert consultant. Do you think you have the legal knowledge to know which are your rights and obligations in order not to have any unpleasant surprise? Do you know all the restrictions and obligations created by a preliminary contract even when drafted as a private written work?
Nowadays the two important figures in the real estate market are the notary, who is in charge of drawing up the legal documents, and the real estate broker who plays a more and more important role. In fact he is able to give to the parties all the essential information to lead to a successful conclusion of the sale and he is able to guarantee a great deal of security and reliability in the real estate market, where the acquired sold and properties can be of high value.
Thanks to his experience and ability the real estate broker, enrolled in the Register of the real estate agents, is able to give all useful information concerning the rights and obligations coming from a property sale, and he can guarantee the fulfilment of the expectations of both parties.
Taking the right steps when “moving” in the real estate market is very important therefore allow your trusted real estate broker to guide you. We will be able to meet your needs and to reach your goal and he will also advise you about the best solutions from a fiscal standpoint.
The seller and the real estate agency:
From the seller standpoint the essential elements are the following:
• A correct estimate of the property value; in other words a shared approval of the seller requested price;
• A complete clarification of all costs the seller will have to afford;
• A discussion about the property strengths and weaknesses which will contribute to determine it’s “real” value beyond the generic “market value” evaluated considering the type and location of the property;
• A professional advise, if needed, in order to enhance the property features making it more attractive at all levels;
• A commitment from the estate agency to advertise the availability and the features of the property on the market using all possible channels (adverts on publications, TV adverts, Internet). The research of a trusted (creditworthy) purchaser.
The essential documents the seller has to bring to the Real Estate Broker in order to aloud him to offer the property for sale are the following:
• The Title-deed: the act of purchase, the declaration of succession or of division of the property;
• The documents concerning the constitution of a servitude (easement) if it was established after the property purchasing;
• The documents concerning a possible condonation request and it’s reception by the competent municipal office. The receipt of payment for the paid indemnity;
• The original or updated Cadastral documents; the scale drawing planimetry;
• The electric wiring and gas plant in compliance with latest safety standards;
• The most recent Cadastral certificates to confirm all data;
• A mortgage check if a mortgage exists. The Mortgage latest payment check;
• Condominium Standard rules, if applicable, with “tabelle millesimali” (condominium expense rate chart calculator). The two latest condominium balances;
• The two last Condominium meeting memorandums together with a copy of all condominium fees payment and the receipts related to the current year;
• The registered lease contract if the apartment is rented out;
• APE (Energy Performance Certificate).
The commission: According to the article N° 1755 of the Italian Civil Code the brokerage commission is set by the broker and the seller together at the date when they sigh the contract giving the broker the power to sell the property. The agreed commission has to be put into writing. If such agreement doesn’t exist the parties will refer the real estate market local “customs and practices” which are classified and kept by the local Chamber of Commerce. The commission has to be paid when the sale is closed, in other words when a valid preliminary contract is signed. The signed preliminary contract is a legal bond allowing both parties to proceed to the implementation of the contract itself.