How high is the deposit when buying a house Italy?.
How much is the ‘caparra’ when buying a house in Italy?
To whom must the deposit be paid when buying a house in Italy?
The deposit is 10% of the purchasing amount!
To show evidence that you are really interested in buying, it is common practice to enclose 10% of the purchasing price of the property to the proposal as a deposit or down payment (caparra confirmatoria, art. 1385 of Italian Civil Law). By means of a non-negotiable cheque in favour of the vendor. Usually 10% with a minimum of € 10.000,00.
This cheque is usually kept by the real estate agent and will only then be handed over once the vendor has accepted and signed the proposal himself. From that moment on, the contract is legally binding. In case the buyer has second thoughts and wants to pull out, the vendor may keep the whole amount of the down payment by way of compensation. Vice versa, should the vendor want to pull out, he has to pay double the down payment received to the buyer by way of compensation.