You want to buy in Tuscany?

I had a request to give more information about the process of the purchase…

Although as I stated I highly recommend Sarita with Italian Property Galleries, but here a few things you should remember.

Do not offer anything site unseen-pictures lie, agents are amazing writers, and “close” to amenities might be 20 minutes away…Make a visit-the 1,000 you spend to get there could save you hundreds of 1,000’s. The one I knew was “the ” one was in a rural area with NO road leading to it, you had to cross through someone’s land, and they were not even selling entire house!

Once we found the one that we thought we could see ourselves visiting a few times a year, we came home to “sleep it off”. My hubby one night then commented…”I’m surprised you haven’t low balled an offer yet?” and I said…”really? ok then….”

Well, the dream that became a reality was actually a slower process than here in the US…

1. The offer is more like a promise note…My agent wrote it up and sent to owner and they did not even counter…which was a bummer since that is the fun part. Be aware…when you put in your offer be VERY serious…ha…because we were told afterwards most Italians either say Yes or No….

2.Put all kinds of contingencies in your offer (just in case you freak out and wake up from your “vino” hang over and change your mind) Not that it helped us…I put in 2 contingencies and it still didn’t stop us. Let me explain…unlike an appraisal the Italians use a “valuer”-hired by the bank to value how much it would actually cost (they don’t really use comps like we do, I think it’s more like an insurance quote here…). You can also tell your lender how much you want it to value for!! WOW-so of course I made up some crazy price…and it exceeded that price…so that didn’t work.

Then I said we had to get a loan…who would loan me money?…in a foreign country…I’m an independent contractor married to…an independent contractor…ONCE AGAIN…not a problem…Loan was approved…and they guy asked how much I needed over and above the sale price..I could actually walk away with money for , you know, repairs…I had a LONG talk with this man about that is how the USA got into this economic nightmare and he really shouldn’t offer more money than the sale price (not like they care but I had to get that off my chest).

ok…so, I have money, I have value…now I need a IBAN??huh

3. my agent got me an IBAN number needed for my bank account and loan..it’s like a social security number…

4.Then the agent prepared the actual contract and then we waited for the loan to close…pretty simple really. However, if you do not plan on another trip to the closing you have to give your agent Power of Attorney to sign for you. We did this by jumping a quick morning flight to the Italian Embassy that is over my state located in Detroit. It was fun, we felt like crazy teenagers, and we were pretty smug sitting there in the lobby waiting to sign for our new “flat” in Tuscany!

5.Make sure your agent is Full Service. Mine opened my bank account for me which automatically pays my mortgage. Sarita also arranged for the utilities to be put in my name (hello-the water is 25bucks a year! I love this place) The electric is high so make sure your property manager unplugs everything when no one is there! Sarita found me a super property manager who arranges cleaning, laundry, pays bills, etc. It is super.

I can give you more advice if you need it-but most good companies will have a long instruction manual which sounds a lot worse that I found it to be…of course I am a real estate agent …message me if you would like to talk about it or if you would like me to hook you up with Sarita!!

Casa Carideo We are lucky our 2 bedrooms are quite large.