Tips for Buying an Italy Home Cheaper Than the People Who Built It

(CNN) – Buying an affordable property in Italy is an attractive prospect for many travelers, especially with the increasing number of cities offering homes for almost nothing through regeneration schemes.

While some people are brave enough to take the leap and snatch a house in a rural Italian village for anywhere from one to a few thousand euros, others are more likely to fear something going wrong.

But are there any red flags potential buyers should look for when considering buying such a home? And how do you know when you’re walking on slippery ground?

When it comes to offering advice and invaluable tips on this particular topic, there is no one better than those who have actually done it themselves.

Mayor Gianfilippo Mignogna decided to offer homes to revive the ailing city, which has seen its population shrink for years as many residents have left to find work in cities in Italy or other countries.

Here three people who helped buy or have one of the turnkey properties share their experiences.

‘Inherited’ problems

Argentinian Mariano Russo of Italian descent bought a comfortable 55-square-metre, two-story home in sale for €7,000 (about $7,800).

Rousseau’s home was sold when it was refurbished—even the walls were repainted—and has a panoramic terrace, while the entrance is a picturesque one in the city’s historic center. Located in the street. In addition to the purchase price, the notary cost him an additional €3,000 ($3,400) for the purchase deed.

“It’s already habitable. We can just modernize the grid-powered water system and heating, maybe fix parts of the floor,” says Rousseau, a manager in Per El Mondo, Argentina. Joe World It is an organization uniting Italian-Argentines throughout.

“The structure is solid, even though it’s an older house, but there’s no mold on the walls and the roof is in perfect shape.”

According to Rousseau, the procurement process was very smooth due to the support of the local surveyor in charge of the project.

“It’s important to have someone to guide you along the way, we were lucky enough to have this agent,” explains Rousseau, who plans to be in Bickery with his wife and two daughters for most of the year.

“He prepared the paperwork for us and helped us pay the property taxes. He made sure the house was free of any prior debt that you don’t want to know after buying it.

However, Rousseau almost found himself trapped in the labyrinthine nightmare that others have found themselves in when buying an Italian property with multiple owners.

There were two owners of this house – sisters who lived in different cities. Both had to first agree to the sale, and then to the final price.

Thankfully the couple was on good terms and things went well. But that is not always the case.

According to Italian law, even if a property has 1,000 different owners, each one must agree to the sale, otherwise it cannot proceed. And let’s say Italy has its fair share of feudal relatives.

Hence the buyers, with the help of the town hall, must remove the risk of an unknown heir to claim the property sold.

Rousseau notes that it is also important to ensure that there are no pending mortgages on the property and that all minimal improvements or renovations completed by previous owners have legal permits for which costs have already been paid. Otherwise the new owner will have to settle it himself, or face legal consequences.

Before signing the purchase deed, buyers should be aware of any damages to third parties that may be caused to the former owners of the home.

For example, if a damaged water pipe flooded a neighbor’s kitchen, or a fallen tile roof tore down a building next to the property.

Even previous remodeling can be a problem if it was not properly approved or retrospectively authorized through so-called building exemptions.

“One sister could not be present on the day of the deed so she handed over the other to sign on her behalf,” explains Rousseau.

“We made sure everything was fine with the sale. The sisters had remodeled the house in the past, pulling down a wall to unite the two rooms, but the building’s apogee was fixed.

“All this should be reflected in the papers before the sale. Nobody wants any last minute trouble.”

If the town hall is not notified of such remodeling, which is a legal requirement, the new buyer could find themselves in a position where the purchase deed – and the sale – are declared void.

right middleman

Finding a skilled agent was a key factor for Rolf Bauer, a retired engineer from Germany, when choosing a bargain house in Salem.

“I love the atmosphere of the village, I believe that fate has sent me here. I went to Puglia this summer to get a house and it was the first city I stayed in. It was perfect,” says Bauer, who paid €30,000 ($34,000) for her renovated home.

“I got to the surveyor’s office right away, that was great. It’s so important to have the right person to help you choose the most suitable home for you.”

He opted to shop in Puglia, as opposed to Sicily, where various cities are selling homes for one euro.

“Sicily is very far to the south, plus I never wanted a one euro house,” he explains. “It requires a lot more work.”

Bauer, who owns other properties in Europe, found the agent’s charges – under €500 ($560) – far less than the fees charged by him in other countries.

As he lives in Salem, Bauer does not have to pay property taxes, which was another selling point.

“I realized that you have to do something with money, use it to relax and enjoy life,” he says. “I’m a collector of houses, and in Bikri I found a warm place where I can live for several months per year. I hate cold weather, I probably won’t even need to install heating here.”

His 150-square-metre home is spread over three floors with panoramic views, and features vaulted ceilings, an open kitchen, a large cellar, and a stone staircase leading to the front entrance.

Bauer did some minor jobs, such as repairing the floor, upgrading the electrical system, and installing a new shower, himself. He is planning to convert the upper floor bedroom into a verandah.

Unlike most buyers, Bauer didn’t source any furniture, appliances, or even light bulbs locally.

Instead he shipped them from countries like Germany, where he says the prices and sometimes the quality could be better.

“It depends on what you want, and whether you have contacts with suppliers in other places like me. It’s always good to take a look around and compare stuff,” he says.

Bauer, an avid squash player, has already been living in his new Bikari residence for two months, and is enjoying the experience to the fullest.

Although language has been somewhat of a barrier – Bauer doesn’t speak Italian – he has so far relied on translation apps, and has found that locals will often try to find out if they are interested in talking to him.

notary issues

The process of buying cheap sale housing was a bit more complicated for Aksana Klimavets, a Russian interpreter based in Italy, who helped a Moscow businessman buy an old house here for €15,000 (about $16,800).

Tucked away on a narrow cobblestone alley, the three-story home was completely refurbished at the time of sale, with a freshly painted white vault, marble staircase, and a panoramic terrace overlooking a small piazza—the former owner was also a stroller. was left behind.

But according to Klimavts, it was incredibly difficult to find a notary available to see the signing of the deed, while the sale process took several months.

“When we did manage to find a notary, we were asked to transfer the money just before the deed, which is impossible given the strict Russian regulations on outgoing international payments, which take several days,” she explains. , “The bank needed to investigate and authorize, and this delayed the sale.”

To speed up the process, Klimavts’ client decided to send the money to a notary well before the rescheduled meeting to sign the agreement, which meant buying an unseen house.

Once this was settled, the customer went to Moscow to sign the deed and found that the notary had mistakenly added the wrong address.

“Luckily we double checked or we would have ended up buying someone else’s property,” Klimavets says.

When he and the buyer finally met the owners, they found that not only did the house have five heirs, but had inherited it multiple times.

“That house has a really long history, during the deed meeting, the notary read us the list of previous owners and now we are in touch with an heir to move the utility bills,” she explains.

After passing this hurdle, the new owner had to go through the process of opening a bank account in Italy, which can be particularly difficult for Russians, before he could pay any bills or make his own money. Can you Be able to enjoy holiday retreats.

But despite these many challenges, Klimavts says his client has fallen in love with Bikri’s clean streets and pristine surroundings.

“For Russians, Puglia is a top destination,” she adds. “There is [international] The airport in Bari and the Tomb of St. Nicholas, a Russian-Orthodox pilgrimage site.

The buyer, an unnamed business woman, is hoping to be able to make the most of her new property, and plans to add more windows and another fireplace.