We’re now onto Part Five of our six-part Guide to Buying in Italy, and that means one of the most exciting steps – putting in an offer. You’ve narrowed down your options to your perfect property and you know how you’re going to pay for it, but you need to make sure you’re up on your negotiating skills if you want it go smoothly from here on. Find out how with these seven top tips for making an offer on a house in Italy.
1. Do some market research
You need to know what you’re talking about when making an offer on a house in Italy. Your estate agent will be a good source of advice on whether your offer is well priced for the market. However, they do work for the seller at the end of the day. This means that they will get a higher commission when you get a higher price. Make sure, then, that you do your own market research so you can confirm their recommendations. And don’t be afraid to show that you’re well informed, and ask educated questions.
2. Be prepared to negotiate
Negotiation is key to successfully making an offer on a house in Italy. Don’t come across as too keen, or the vendor may try to take advantage. Equally, don’t come across as too disinterested – you want to show your enthusiasm. It’s a bit like playing poker. You need to read the seller’s emotions: with some, you might show how much you love the home. With others, you might play it more blasé.
Find out more about how to hone your negotiating skills when buying in Italy with our free Negotiation Guide.
3. Charm the seller
At the end of the day, you’e making an offer on a house in Italy that someone has (hopefully) put a lot of effort into over the years. You don’t want to be too off-puttingly aggressive in your attitude or pricing. You want to keep the seller on your side. You could try, for instance, writing a letter to them to introduce yourself and explain why you’re so keen to purchase.
It’s a bit like playing poker. You need to read the seller’s emotions: with some, you might show how much you love the home. With others, you might play it more blasé.
4. Lead the negotiations
It can be tempting to think of the seller as having the upper hand. After all, they’re the one with the house. But remember, you’re the one with the money – and they need to sell. Understanding their position puts you at an advantage. Ultimately, you can walk away at any moment.
5. Don’t worry if it doesn’t come through
Not every sale will come through, for a variety of reasons. If that does happen to you, try not to worry to much. Many people actually look back finding that this turned out for the better, having found an even nicer home later on.
Not quite ready to put in an offer yet? Or have you found your perfect home, but want a little more advice? Come and speak to the experts at the free Your Overseas Home shows this year in London, Birmingham, Chester, Epsom and Harrogate.
6. Speak to Smart Currency Exchange
Before actually making your offer on a house in Italy, make sure you’ve put your finances in place. The exchange rate is always moving: in the last year, a €200,000 house has changed value by over £10,000. Smart Currency has helped thousands of our readers with forward contracts, whereby they lock in the exchange rate for up to twelve months, so what you pay never changes.
How to negotiate abroad is the guide to put you back in control: