Guide to selling property in Italy

Guide to selling property in Italy


If you are looking to sell property in Italy, you should be aware that market conditions vary in different parts of the country. The big advantage of selling property in Italy is that homes in the country are very much prized by rich Chinese and Russian buyers, eagerly looking for second homes or vacation homes.

However, you cannot afford to be complacent about your Italian property for sale as foreign buyers are likely to be very smart and discerning. If you’re to get the best home prices from them, you, it’s important to do your bit as well, and make your Italian property for sale look really quite presentable.

Also, it’s very important to be completely objective when you’re putting your Italian property for sale. As a home owner, you are likely to be biased and may not look at your property in the same way as a prospective home buyer would.

To help out, get a professional or someone you trust to make an objective appraisal of your property, and use them for the unvarnished truth, what they truly think about your property rather than what they think you would like to hear.

When you put your Italian property for sale, you must stop getting emotional about it. Cut off any ties whatsoever with the house and view it purely as a commodity you are looking to sell, and think from the perspective of the potential home buyer.

You will know that the Italian housing market hasn’t completely recovered as yet from the global housing crash of 2008. The Italian economy has recovered somewhat, but growth rates have still remained very tepid. But you have luck in your favor as experts have forecast that the housing market in Italy is likely to pick up in 2015, because of the influx of home buyers from Russia, China and other fast growing economies.

It is important to be very smart while selling your Italian property for sale. You should not, for instance, overprice the property. Set your property at a price that is 5-10% over the average that comparable properties in your area are selling for, that’s it!

Hire two or three real estate agents, not just one and don’t just depend on real estate agents. Get in touch with the expat communities, visit their favorite haunts – bars, restaurants, etc., and distribute attractive flyers about your Italian property for sale. Offer an attractive commission of 5% to a real estate agent for getting you a really good deal. Market the property on Facebook, blogs, real estate portals, online forums etc., especially those visited by prospective Russian and Chinese buyers.

Next, renovate the property. Hire plumbers, electricians, gardeners, painters and so on and dress up the property in the best way possible. Get rid of the clutter if any. In particular, pay close attention to the repairs done in the kitchen and bathrooms – they have to be at their best, as that’s what an overseas buyer looks at first.

Get high quality photographs of your Italian property for sale taken by a professional photographer, prepare all the documentation required, write a beautiful description of the property – all kept ready to be handed over to prospective buyers.

Visit real estate blogs, portals and so on, and write ads for your Italian property for sale with a neat description. Frequent expat online forums as well and talk about how you’re looking to sell property in Italy.

When a prospective home buyer comes visiting, be on your very best behavior, never over sell the property or look desperate. Be calm and cheerful and explain why you’re looking to sell it.

Finally, once a buyer has been found, hire legal representation to take care of the negotiations and contractual agreements. Any solicitor hired by you has to be experienced and be comfortable in both English and Italian. He or she should help you get your documents in order and ensure that the property transaction goes smoothly, according to plan.

Contact Worldwide Group today to sell property in Italy.

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