There are 3 steps to follow when buying a property in Italy:
1. The offer
It is customary to sign a written irrevocable property purchase offer and to give a small part-payment(3%-10%) if the seller accepts the conditions by signing the document.
2. Preliminary contract
Upon acceptance of irrevocable offer , both parties will have to sign the preliminary contract of sale, in which they state the full price of the property, the name of the notary and the dates when the purchasing act will be fully complete. At this time the buyer will have to give 10%-30% of the agreed price of the property (caparra confirmatoria) to the seller.
3. Contract of sale (Rogito)
The final document is the notary deed, at this time the buyer will have to pay in full the remaing balance of the agreed Property price.
However it is possible to simplify the purchase procedure by jumping the second step. In this case the name of the notary and the date related to the signature of the notary deed will be fixed at the moment of the offer. We prefer to apply this simplification when it is possible, expecially when you purchase a property from a private owner (Resale Property).