The Purchase Offer

Once you have completed your research and decided on a property, and if it is being handled by a real estate agent, you will in most cases be asked to submit a binding purchase offer (proposta irrevocabile d’acquisto). This is a unilateral legal commitment, meaning that the offer is binding only for you as the buyer. If the seller accepts your offer, you are legally obliged to proceed with the purchase. If, on the other hand, you are negotiating directly with the owner, the process usually moves straight to the preliminary contract once the price has been agreed, without the need for a separate written purchase offer.

Please note that the purchase offer must already include all essential terms of the future sales contract, as well as a deadline for the seller’s acceptance, which is typically around two weeks. Upon submitting the offer, a small deposit is usually required and held by the real estate agent as security. Until the expiry of the deadline set by you, you are strictly bound to your offer. In the event of your death, the offer would even pass on to your heirs. Should you wish to withdraw your offer unexpectedly, you risk losing your deposit and, in most cases, may still be liable to pay the agreed agency commission.

During this two-week period, you have sufficient time to carefully inspect the property with the help of your legal advisor and, if applicable, an independent surveyor. By checking the land register and the cadastral records, you can ensure that there are no debts, missing building permits, structural issues, or other legal claims that might complicate or even prevent the purchase. 

The seller, meanwhile, remains free to accept or decline the offer within the specified deadline. If the seller accepts, they too must already comply with all relevant conditions that will later form part of the official purchase contract and must confirm their acceptance in writing.

You are not obliged to offer the full asking price; you may, of course, submit a lower offer. In such cases, it is advisable to point out any defects or shortcomings in the property to justify your proposed reduction. Around Lake Garda, prices remain relatively high, and properties are often listed with unrealistically inflated price expectations. In most cases, the owner has already factored in a certain margin for negotiation, even if the property is officially advertised as a fixed price.

Keep in mind that once you have submitted an offer, you cannot lower it afterwards. 

However, you can make a second, higher offer if your first proposal was rejected. In general, avoid appearing too eager or overly interested, as this tends to reduce your chances of negotiating a better price. Always ask how long the property has been on the market, as a long listing period often indicates that the property is overpriced.

Once your purchase offer has been accepted, the next step is to sign the preliminary contract. Read more under Preliminary Contract.