Buying property in Italy is a dream for many international buyers. But what if you want to sell your current home and buy a new property in Italy at the same time? It’s possible, but careful planning is essential to avoid delays or unexpected costs.
Assess your finances
Before starting, review your budget:
- Value your property: Get a professional appraisal or consult a local agent to set a realistic selling price.
- Plan your purchase: You may use the deposit from your sale to secure your new property. A preliminary contract with flexible timelines can offer extra security.
Timing is key
Legally, selling and buying a home simultaneously in Italy is allowed. However, timing is crucial:
- Avoid gaps between selling and buying to prevent temporary housing problems.
- If you have a mortgage, plan how it will be cleared or transferred.
Practical steps
Selling your property
You can sell through a local agent or independently. Allow around six months for completion to give yourself time to find a new home.
Searching for your new home
Start looking early. Agree on flexible move-in dates or conditional clauses if renovations or approvals are needed.
Coordinating the handover
The most critical step is the transfer of keys. Work with your notary to align both transactions and ensure you have the funds needed for closing.
Using the same estate agent
Working with the same agency for both selling and buying can simplify the process. A single point of contact can coordinate timelines, optimise marketing, and provide personalised guidance.
Managing an existing mortgage
If there’s an outstanding mortgage, options include:
- Early repayment using sale proceeds.
- Transferring the mortgage to the buyer.
- A bridge loan to cover the gap between sale and purchase.
- Transferring the mortgage guarantee to the new property.
Always involve a notary and your bank to confirm the details.
Selling and buying privately
You can manage the transaction without an agent, but a notary is still needed to draft the final deed. Prepare a preliminary contract and gather all necessary documents, including the Energy Performance Certificate (EPC) and cadastral papers.
Timing rules for first-home incentives
If you benefit from first-home tax incentives in Italy:
- Your old property must be sold within two years under the 2024 Budget Law, giving more flexibility than before.
Reserving a new property
You can reserve a property before selling your current home by:
- Making the purchase conditional on selling your home. The deposit is held by the agent until the preliminary contract is signed.
- Setting a deadline for the sale, after which the deposit is refunded if your property hasn’t sold.
- Using a compromise agreement to temporarily block the sale while paperwork is completed.
Costs to consider
For buyers:
- Stamp duty: 2% for first homes, 9% for second homes, based on cadastral value (minimum €1,000).
- Mortgage registration: €50.
- Land registry fee: €50.
- VAT: 4% for first homes from developers, 10% for second homes.
- Notary fees: 1–2% of purchase price.
- Estate agent fees: 2–5% of sale price.
For sellers:
- Estate agent fees: 2–4% plus VAT.
- Capital gains tax: if sold within five years of purchase.
- EPC certificate: ~€200.
- Notary fees: especially if cancelling an existing mortgage.
For more on the cost of selling property in Italy, check out our guide.
Key takeaways for foreign buyers
- Selling and buying a home in Italy simultaneously is possible with careful planning.
- Work with a reliable estate agent and notary experienced with foreign buyers.
- Plan for costs, mortgage management, and timing of key handovers.
- Conditional contracts or preliminary agreements can help secure your new home before selling your old one.
With the right approach, you can move smoothly into your dream home in Italy without stress or unexpected delays.