The short answer is yes, for the reasons set out below.
It is often the case that individuals start and finalise the sale or purchase of a property in Italy without seeking legal advice, using only an estate agent to assist with the transaction. This can be due to practical purposes, such as a preference for dealing with one rather than multiple professionals, for financial reasons, or perhaps the assumption that a straightforward transaction awaits.
Unfortunately, this is rarely the case due to the following reasons:
1. Language barrier.
Should you appoint a non-English speaking estate agent, you could be signing documents without knowing or understanding their content or their legal powers. It would be unwise to undertake such an important transaction with a professional who does not speak your native language, nor do they have the legal background to advise you accordingly.
2. Different conveyancing methods
UK and Italian methods related to conveyancing matters contrast greatly.
A dual qualified lawyer will be able to explain the differences and navigate both methods, thereby minimising the risk of unexpected and unwanted scenarios.
Estate agents are not legally qualified to provide advice during the conveyancing process. This lack of legal experience often leads to individuals being legally liable towards the other party without being aware of this.
3. Liabilities
Prior to requesting that a client sign any documents, a qualified lawyer would carry out due diligence against the property for sale to ensure that it is commercially sellable. Unfortunately, this does not always happen without a lawyer being involved, and it is very common for individuals to seek legal help when they discover hidden issues which have rendered their property unsellable. The resulting costs to rectify a defective property, avoid liabilities or potential compensation claims not only add to the already stressful experience, but also exacerbate the financial burden. Seeking legal advice at the time of purchase/sale can help mitigate the risk of such events occurring and the ensuing liabilities one could find themselves in.
4. Estate agents’ commission
The law allows estate agents to ask for their commission when the parties are legally bound to each other. This can also occur when an initial offer is signed by the parties (therefore at a very early stage). As such, the general tendency in Italy is to “accelerate” the sale/purchase process to quickly secure the commission (usually 3% of the sale price). As is often the case with hastily executed transactions, this often leads to mandatory steps or checks being skipped, details being entered incorrectly, and potential financial liabilities from one party to the other.
Bypassing critical stages is easily done should you not have any legal assistance, nor knowledge of the Italian system and regulations.
In principle, buying or selling a property in Italy may seem easy and relatively straightforward but unfortunately, it is not. From Italian conveyancing rules becoming stricter and individuals carrying out building work in the past without the required permits, ensuring a property is commercially sellable is essential.
Before selling or purchasing a property in Italy, it is therefore crucial to seek legal advice so as not to incur unexpected liabilities and delays.
