Express Due Diligence for your Italian Property Purchase

Express Due Diligence for your Italian Property Purchase

Copy of Copy of DD cost image 1 - Express Due Diligence for your Italian Property Purchase

If you’re almost ready to sign an Italian property purchase offer and want some guidance to check the deal with the assistance of an independent expert, before signing on the dotted line, our Express Due Diligence is a good option to have a real estate lawyer review the specifics and advise you.

The main difference between our Express Due Diligence (EDD) service and our standard Property Purchase Plans (PPP) is that, in the EDD, you are able to do a lot of work on your own, in terms of collecting documents and information from the seller, real estate agent, etc., uploading that information in our intake form, and then having us do the due diligence based on that information and those documents. Our intake form serves as an essential checklist to know that the information and those documents are important so that you can ask for them and share them with us. In a PPP, we are the ones doing all that information and document research and collection.

Basically, the EDD is for you if you are more of a DIY (do-It-yourself) person, who would like to be as involved as possible in the purchase and do not mind spending more of your own time to spend less in legal fees, while still having a high level of legal competence and advice at your disposal. But you always have the option to return to the firm later in the property purchase process and upgrade by adding stand alone services from our Property Purchase (PP) Engagement Letter.  This would let you skip the cost of that Due Diligence (1,820 EUR) and the file activation fee (470 EUR) that applies to our standard PP Engagement Letter.

Here is what we provide through the EDD:

  1. Help you identify information that is relevant based on your personal profile and the property you are interested in. We will provide you with questions in Italian for you to acquire more exact information and to give you more accurate understanding of the deal;
  2. Research and review the property record in Italian public registries, including:
    • Check public title records for property title, mortgage and liens;
    • Check public tax records for ownership consistency.
    • Our fee includes registrars’ charges.
  1. Review building compliance survey provided by Client or seller, if any, and advise about red flags, Italian wording to ask your seller or surveyor to address them and/or to provide more information for you to better understand if/how they might represent a prejudice for your purchase;
  2. Advise regarding the owner/seller’s right and power to sell the property, potential liabilities related to ownership profile (multiple sellers, potential bankruptcy and inheritance liability);
  3. Review and advise regarding purchase offer or preliminary purchase contract or compromesso terms provided by Client, if any, whether it’s a draft or already signed document. We will advise about risky terms or about recommended alterations. Although this service does not include SLM providing legal wording to amend any document, we will be happy to advise you about options and costs to tune them up before signing;
  4. Transaction cost estimate: including notary fees, realtor’s commission if any, transfer taxes, etc.;
  5. Retrieve local Township/City tax rates and calculate annual property tax estimates;
  6. Provide basic advice on purchase tax reduction and tax deferred payment options, if any;
  7. Exclusive 2024 Do it Yourself (DIY) Due Diligence Guide (includes terms, definitions, tax formulas, etc.); 
  8. Written due diligence summary with red flags and recommendations to address them. 

BONUS:  After we send you the Express Due Diligence summary, you will be able to do a concluding remote consultation with a senior real estate lawyer regarding the due diligence findings and suggested action plan (up to 30 minutes).​