Terms and Conditions
Terms and conditions
Via Flaminia Vecchia, 25
06049 Spoleto (PG)
Tel. +39 0743 840013
Fax +39 0743 840013
VAT Number: 03346320546
Real Estate Agents Regulations
Pursuant to Section 1745 of the Italian Civil Code, the term “broker/intermediary” (also real estate agent) refers to an individual who “acts as a link between two or more parties in order to bring about agreements and who does not collaborate with, is not employed by or does not represent any of the parties”. A real estate agent should therefore be impartial and solely committed to effecting transactions.
Additionally, in accordance with Italian law 39/89 governing the broker’s profession, those who are engaged or intend to be engaged in the brokerage business (including the Real Estate Brokerage business, Editor’s note) should be registered with the relevant real estate agents roll, even though such business is conducted occasionally.
Consequently, only commercial brokers who are registered with the Real Estate Business Agents Roll and whose registration details are deposited at any Italian Chamber of Commerce have the right to carry on business and are entitled to payment upon carrying said business. The legality of the commercial broker qualification shall be demonstrated by a broker showing an identification card that was issued by the relevant Chamber of Commerce. Chambers of Commerce may be contacted to verify whether a real estate agent or a real estate agency is a registered member.
When your ideal home has been found, putting forward a purchase offer is the first step to take. The purchase offer shall be made in writing in the seller’s name, and earnest payment or a downpayment shall be made.
Our real estate agent shall fill out a form (usually a prescribed form) setting forth the details of the purchase agreement terms and conditions.
Should the terms and conditions be accepted (acceptance must be made in writing) by the seller, the parties shall be bound to conclude the purchase transaction under the terms of the purchase offer. As soon as the cheque is cashed in by the seller, the amount of the cheque shall be considered as earnest payment.
Should the offer be rejected, a real estate agent shall return the amount paid.
Prior to accepting an offer, the following should be noted:
1) Make sure that the purchase offer form contains the real estate agent’s personal details as well as his or her registration details with the real estate agents’ roll (all real estate agents working with Umbria Luxury or any other partner real estate agency have their own licence identification number);
2) The purchase offer and the relevant cheque should be in the seller’s name rather than in the real estate agent’s name (many ill-advised buyers mistakenly write down the real estate agent’s name);
3) In the event of a mortgage having to be arranged ahead of the purchase of the property, the full preliminary contract should bear a date (date is chosen freely) which is at least 30 days after the date on which the purchase offer was accepted;
4) In the event that a mortgage is arranged, the following provision should be included in the offer: “Offer validity subject to mortgage approval”;
5) The total amount of the commissions entitled to the real estate agent should be agreed in writing.