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Why say NO to the best exchange rate in 18 months?
Insurance policy for off-plan properties
Mediation and alternative dispute resolution
THE PROTECTION OF BUYERS IN THE CASE OF THE BUILDING TO BE BUILT
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- If someone offered to cut 15 percent off the cost of your dream overseas property, would you say NO? I think I know
the answer to that question but that is what many European property buyers are doing right now although some of
the reasons for doing so just don’t make sense. MORE
Insurance policy for off-plan properties
- According to article 4 of the legislative decree 122/2005 the construction company is obliged to deliver to the buyer,
at the moment of the transfer of ownership, an insurance policy as guarantee for eventual serious construction
defects affecting the property. Such insurance has a cover of 10 years. A good piece of advice is requesting the
Notary to make explicit reference to the insurance policy in the Deed of Sale. This article is aimed at explaining what
type of defects would be covered under this guarantee. MORE
Mediation and alternative dispute resolution
The need of this short legal note arises from the fact that Italian Courts unfortunately are notorious for being very
slow to judge and taking final decisions. To give you an idea and some unbelievable numbers regarding the
average duration of civil judicial proceedings in Italy at first instance is 968 days and then at second instance is
1511 days. Therefore to get a decision by a Tribunal in Italy normally the private person who wishes the recognition
of his rights has to pay a lot of legal expenses and has to be very patient awaiting usually for 2479 days which is
around 6 and a half years . Also in a case filed in court the disputant will get by the judge or jury a resolution which
probably will leave neither party to the dispute totally happy. MORE
- The closing process for a home purchase can be briefly described as the definitive and official moment of a long –
and sometimes stressful - procedure started with the chosen of a property.
As said by a famous writer “all those hours spent negotiating, late evening spent crunching the numbers, long days
spent walking through and assessing the property, sleepless nights spent waiting for loan approval, the time spent
dealing with your partners and handling investors it is scheduled to come to end on closing day”.
But first there are such many elements which need to be monitored for getting the best result when a private person
is involved in the last moment of his purchase or – as usually named – in the “completion”. Here you have a rough
guide for the completion by all the necessary steps to be performed. MORE
THE PROTECTION OF BUYERS IN THE CASE OF THE BUILDING TO BE BUILT
- The reason of this legal short notes born from the necessity to inform all the English speaking persons who are
buying a off plan property in Calabria as unfortunately many problems have been registered in the last period about
the process concerning the purchase of a unit included in a building to be built. MORE
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