britaly00

I was wondering how easy (sic) it is to sell an apartment without using an estate agent (realtor).
I know the notary is necessary but one occasionally sees signs for private sales. Any savings to be made from the vultures of the property market are welcome.
Anyone know of any Italian sites which offer guidance with such a procedure?

Thank you.

modicasa

As one of your vultures, Id say yes you can sell privately. HOwever the amount of paperwork has probablly more than tripled in the last 5 years - if you dont speak Italian you will need someone, as will your buyers. You have legal obligations to pass on information which if you dont can mean you have to buy back your property. An agent will take 3% plus IVA - probably less if you sign an esclusive - you can claim some of it back on your IRPEF. Your agent will pay going on 70% of what he gets to the state, and will not only work for you, absorbing alot of your costs, but also have insurance in case he or you muck it all up. Its true there are agents who are worse than useless, and take money for doing nothing - get the compromesso signed, get their fee and you wont see them for dust. As you are paying however, you can to some extent stipulate what the agent does - take his money at atto, for example. You may be happy to deal with buyers trying to be furbo, or just plain stupid - most people not. However, if you want to sell without an agent you certainly can. you wont find many sites however, as the law changes so regularly. And it depends who your market is - some buyers will only use agents as they dont know the local market, dont want to deal with sellers etc etc.

britaly00

Having recently sold a prop in UK there is no comparison in the fees. And as far as I know the rest of Europe is cheaper than Italy.
typically 3k for props under 100k value, or 3%, off buyer and seller is really the bargain you claim it to be. And yes, the State is the worst vulture.

lindanoto

I have bought/sold properties here with and without an agent. My experience has been that for the 3% I was paying the agent ,it was a bargain. Let them deal with the coddling of clients , time wasting tire kickers, and the responsibility . I would not buy or sell thru the many secondary portals ( the Internet is full of sites that just pull info from other's adverts )and would only use an agent who has an office in the area. A good licensed agent only take their fee at time of atto , NOT compromesso. If they want it up front (they can legally ask) find another agency.

modicasa

In Italy a seller pays only the agent, there is no solicitor, no advertising etc, all of which are addons in other countries. However, if you are convinced that an agent isnt worth the money - then dont use one. It isnt obligatory. But if you are not fluent in Italian and conversant with property law, then you're on a hiding to nothing. At least learn the difference between a caparra and an acconto - otherwise you could well end up losing alot of money. There are people now who seek out private sellers knowing that they wont buy the property but will earn on a badly written compromesso

arjacey

My two cents worth...Having spent some time house hunting last year, we were undecided about purchasing privately. This, of course, is a little different from selling as we weren't the ones to decide how the property was being sold.Your fee to the agent does seem a lot unless you say it really quickly but we have come to the conclusion that much of what the agent does would need to be done by someone else to protect your interests so it's probably not that bad.We wouldn't be adverse to buying privately but wouldn't expect to save much money as fees would need to be paid to others who understand 'the system', both as written and as practiced, and the language.Our overall impression of the Italian system is that there is much more opportunity to be caught out, there is much more responsibility on the buyer (and seller) to ensure everything is in order, which I quite like, but does need either an absolute trust in those you are buying from or selling to or the involvement of a good professional.Of course, how you know whether the professional you engage is good is entirely another matter and may depend on personal recommendation.We were only in Italy for a month at the end of last year before we had a pretty good idea of those who were good and those to avoid by the time we left from other expats we met.Of course, if I were looking to but in Sicily, I'd use Modicasa!

modicasa

Too kind! But you're right, though I would also say that the system in Italy, although convoluted actually does give more protection to buyers and sellers than in other countries. It may seem like a series of endless obstacles, but if its done properly it's a watertight system that protects both buyers and sellers from future problems. Those who dont use agents but use lawyers will end up paying more usually. Having said all of that, there are agents out there who are not only useless but lazy and greedy. As with most things there is the luck of the draw - there is no obligation to ever update your knowledge from the moment you get your licence, and I know plenty of agents who have no idea as to the current laws. At least in ITaly a registered agent requires some training. In other countries its something you do when a career as a waiter loses its appeal. While its true that many foreigners have to trust an agent a lot when they buy, there is nothing to stop you asking questions, and checking if what they say is right. If you do decide to sell without an agent though, you need a very good notaio, and the law in Italy says the buyers has the right to choose the notary - which could leave you with problems. An agent by law must be independent in a sale, and work for both sides, which should guarantee a fair deal for buyer and seller. Or at the very least, a deal which is signed knowing all the consequences.