Guide to Selling Property in Italy
Here we will give you some tips and advice to sell property in Italy fast and attract as many cash rich buyers as possible. Market conditions vary depending on what region of Italy you are selling in. But the main advantage is Italian property is very much in demand from cash rich Russian and Chinese buyers looking for second or third holiday homes.
Overseas property investors are savvy when it comes to purchasing Italian property so you need to price the property within the market so you need to research what recent properties have sold for in your area. And make your property neat and tidy and presentable for any inspection trips. Do not be biased you need to remove all clutter and give the buyers a blank canvass to picture themselves in.
Get good photos taken and a full written description of the property done ready to give to an estate agent who is an expert in Italian property re sales. Make sure that agent markets into multi lingual markets such as the UK, Russia and China to give your property as much exposure as possible. Your agent will make your online adverts professional to what a buyer wants to see and hear rather than what you think they would like to hear. You need to cut all emotional ties with the property as it is now like a second hand car you need to sell and by doing this it will help you get the best price possible from the buyers.
Experts predict that the housing market in 2016 will have a record number of overseas investors do make sure your property is marketed outside of Italy. This is because property value is still quite reasonable and cash rich UK, Russian and Chinese buyers see Italy as a sound investment because of the growth of the economy of the last few years.
Price is everything so make sure you advertise close to what your nearest competition is advertising for and always allow room for offers. We advise always advertising for 10% higher than what you want in your pocket.
Get in touch with as many online estate agents as possible who market overseas as exposure is the key to selling in Italy. Offer 5% on sale to the agents so they will work to make their money. Market on Facebook and on expat forums. The secret to selling property is exposure long gone are the days of putting property on one website and hoping for the best.
If your property needs any repair work done get this done before putting it on the market. The cash rich buyers want properties that are ready to move into, unless they specifically want renovation projects. So make sure the interior and exterior is in tip top condition to present to the buyers. Overseas property investors want a stress free life this is why they buy overseas to take them away from their busy schedules.
During an inspection trip be polite calm and ready to answer all questions. Never seem to keen or desperate as the buyers will pick up on this and wonder what is wrong and make low offers. Always have a good reason as to why you are selling normally to buy something else is the best answer.
When you find a buyer and agree on a price you will need a reputable law firm to handle the sales contract and all legal documentation in all languages of the buyer and seller. Your Solicitor has to be qualified under Italian law and is there to make sure the transfer of monies and deeds goes smoothly