When the buyer has chosen the property he/she likes the most in Cozy’s final viewing list, Cozy Property Finder negotiates the price for him/her.
With the tax identification code (“Codice Fiscale”) Cozy will have required for the buyer, an Offer (“Proposta d’Acquisto”) can be made. Cozy highly recommends the buyer to avail himself/herself of a surveyor (“Geometra”) in order to have a survey done, together with a due diligence and potentially a mortgage. Cozy can advise you a credit broker and open a bank account for you. In some cases, if a few conditions need to apply, they must be written in that document. A light deposit (usually, from 5 to 10,000 Euros) is made at this stage.
The owner will have a few days to accept the offer or not. If all is OK, the next step will take place after one month, the time to control that the property is in condition to be sold.
The Preliminary Contract of Sale (“Preliminare / Compromesso”) is a document that is usually registered. It mentions all the outstanding conditions, the rights and obligations of both parties and the date for completion is established (consider one to two months afterwards). Usually, 30% of the property price is paid to the owner then. The Real Estate agent / Property Finder is entitled to the payment of his commission by law once this contract is signed.
The buyer has the right to choose the notary he/she prefers for the Final Deed (“Atto Notarile”) as he/she will pay for his/her fee. An interpreter will be assisting you during the completion in the notary’s office if you are not fluent in Italian. The final payment is required and the legal possession of the property passes from the owner to the buyer.