Hello from a very wet and dull UK.I

08/08/2017 - 09:08

Hello from a very wet and dull UK.I'm looking for a little advice on the Rent to Buy scheme operating in Italy. I've been searching to buy my permanent home in or around Brindisi for the past 3 years. I'll still be working here in the UK but hope to retire in around 10 or less years time and move out permanently. I'm not too troubled with the UK about to leave the European Union but wonder where or who I can get legal assistance with the RTB scheme. If anyone is able to point me in the right direction that would be fantastic.    Thank you 



In the financial law of the Monti government, year 2015, there was a specific rule,> http://www.terzobinario.it/comprare-casa-senza-mutuo-da-oggi-si-puo-con-il-rent-to-buy/61227Like all imaginative regulations, created for the purpose of obtaining votes, made a lot of auditorium and then was filed in the forgetting. According to the legislator, the seller with this rule would have the opportunity to free himself of his own property, to the benefit of the buyer, who pays them to installments, without the guarantees and costs of a mortgage -It is quite easy to understand that the seller is not that good and good soul, willing to sell their homes, for the buyer's economic advantage and the political fortune of the legislator - in fact after the first, enthusiastic articles, including newspapers and magazines Real estate agents, have forgotten this carnival invention.The "foreign" investors at first impact with the Italian Republic of Bananas are convinced that everything is possible here and not that the winnings here are made with a certain "lightness" 

Hi I have an american friend living in Italy for a long time, and earlier this year he managed to pass the Estate Agent exam here to be qualified in Italy....anyway I was chatting to him about other stuff, and he mentioned that this new Rent to Buy  scheme that is according to him a real game changer for the Italian Real Estate that is sold to / bought by non-Italians, seeing as a mortgage from an Italian bank for a non-Italian is now a no hoper.I honestly know nothing about it other than it is apparently a serious solid way of financing the selling / buying of Real Estate in Italy. It does not really favour the seller, other than enabling him/her to sell and get monthly installments.I will look up the name of the person promoting it and pass it on to you, and let you judge for yourself 

http://www.renttobuyhousesinitaly.com/who-we-are/  Alessandro Clemente seems to be the man behind promoting it - have you already had contact with him? If you want I can put you in touch with my american friend who may be more impartial

In reply to by Ronco

Thank youI recently have read the article and history behind the scheme by Alessandro Clemente but became aware of it last year. I've not made an approach to him yet.It could be helpful to speak with your friend in the first instance to gauge which way to go.Many thanks 

Yes the lawyer is very better than a  real estate agent .., In fact I'm wondering why this useless category of real estate agents was invented, I see that she is also specialized in mortgages - in fact she does everything, less her lawyer's profession - Eeeehhh SI .. Italy is a large banana plantation.

Hello Ugo, I am sorry if you do not like it, and yes indeed my american Estate Agent friend was quite annoyed also at having a lawyer (Clemente) who seems to be acting also as an Estate Agent which is apparently contrary to Italian Law, but he did say that the Rent to Buy was a good thing for foreign buyers

An old Italian saying recites> everyone is free to choose, the tree, the branch and the rope - the only suggestion that can be given, is to sprinkle the soap rope... Ronco, All that costs little, looks beautiful, and all those who promise us, easy business, look good and good people -Unfortunately, many people forget that the hen who made Colombo's egg died a few hundred years ago..... 

Rent To buy - as Ugo says- is now possible to Italy but is not widely used.  Remember that no seller is obliged to sell with this scheme and 99% will choose not to.  If I sell I want the money now, not in a few years.   You will still need a mountain of paperwork, all translated into Italian that gives no guarantee of a successful outcome. Personally, I avoid anyone who describes themselves as a guru! 

Introduced in Italy at the end of 2014, Rent to buy (a.k.a. rent to own, affitto con riscatto) is where a potential buyer initially rents a property with an option to purchase it at the end of the rental period, up to 10 years (after which they would lose important legal protections). Each payment is part rental fee and part installment payment toward the future purchase. At the end of the rental period the potential buyer will need to pay the outstanding balance to purchase the property. If they choose to walk away, they may or may not get their installment payments back, depending on the terms of their contract. For most buyers, Rent to buy only delays the need to come up with a significant part of the purchase price but could be useful in the case the buyer believes their situation would improve a few years after the initial commitment to the property. For most a traditional mortgage will remain a much more attractive option rather than a rent to buy solution. For sellers rent to buy may be worth considering for properties that would not sell otherwise. In either case the parties will need to closely scrutinize the terms of the rent to buy contract they choose to use. For most, buyers and sellers, rent to buy would not be their first choice. On a separate note, current Italian law requires real estate brokers to be trained in tax, legal and technical areas, certified (only 20% pass on average), licensed and insured. If a dentist, accountant or lawyer wishes to assist buyers and sellers of real estate, they too must undergo the training and licensing process and by law they must give up their current career. If someone practices without a license, not only are they breaking the law, but by law a client working with a fake agent does not have to pay the fee. Disclaimer: I am a licensed real estate agent in Italy.

Carlos ,this info about dentist , also applies to lawyers ? If yes ... It is time to say this to them because it seems they do not know it  ... :) Rent-to-buy is an operation that is implemented, with the greatest attention paid to savings.So it can happen that expensive controls, which in a normal sales transaction are usually carried out by notaries, are not made, and consequently, for the saver buyer, to be contracted at a nest of wasps.We admit, for example, that during the term of the contract, the seller has no money to pay one tax, the tax office, will guarantee his credit, placing a mortgage on all his property, so also the rented property.To get rid of the mortgage, the only option is to pay the tax with all the penalties, the sum could also be higher than the sum already set off in the Rent to Buy contract share and the total value of the property.To enforce his  right, the tenant / buyer is obliged to hire a lawyer and bring to court  the owner of the house, who is unable to pay both the evasion fee and the damage incurred by the tenant, because the office of Taxes, according to Italian law, before placing the mortgage on the house, also freeze all his bank  current accounts.Let readers draw conclusions ... Disclaimer: I am a NOT licensed real estate agent in Italy ..... but Italian from birth ... ( about 67 year ..) ...angel.