304 lines
9.1 KiB
Plaintext
Executable File
304 lines
9.1 KiB
Plaintext
Executable File
property
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overseasproperty
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8524156
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# Property agents make it easy to enjoy la dolce vita
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## A property agent can cut through Italy's notorious red tape, says Graham
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Norwood
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![Lunigiana, Tuscany][1]
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Image 1 of 3
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Lunigiana, Tuscany
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![San Giorgio, Abruzzo][2]
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Image 1 of 3
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San Giorgio, Abruzzo
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![Cetona, Siena][3]
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Image 1 of 3
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Cetona, Siena
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By Graham Norwood 4:23PM BST 19 May 2011
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[Comments][4]
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Italians enjoy more than their fair share of beautiful landscapes, historic
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buildings and stunning art. Traditionally, however, foreign buyers seeking to
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share in these charms have come up against a wall of bureaucracy.
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That's all changing. There is a clutch of new firms, buying agents, offering
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to help Britons cut through the legendary Italian red tape and find exactly
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the right home in the right place.
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Italy's buying system is radically different from Britain's. Buyers and
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sellers both pay fees to the same estate agent, with a deposit of 10 to 20 per
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cent. This is often paid up front, and purchasers usually need local bank
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accounts. Worryingly, outstanding debts linked with a property must be cleared
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before a deal goes through, otherwise the debts transfer to the new owners.
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On top of all that, there are occasional disputes over homes allegedly built
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without planning consent. And, of course, relatively few British buyers
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understand colloquial Italian. The potential for mishaps during a property
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deal and subsequent renovation work are obvious.
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Buying agents therefore make sense. Charges vary, but they typically levy a
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one-off fee of £500-£1,000, plus a small percentage of the purchase price of
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the property, too. But they often save substantial sums for clients by
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avoiding the pitfalls awaiting novice buyers.
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## Related Articles
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* [Chteaux rescue][5]
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13 May 2011
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* [Britons eye up property bargains in recession-hit Europe][6]
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10 May 2011
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* [Holiday homes near trains, boats and planes][7]
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06 May 2011
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* [Homes that can make you money][8]
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22 Apr 2011
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* [Homes with spa facilities for sale][9]
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01 Apr 2011
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* [International property: estate agents' choices][10]
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15 Apr 2011
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"It isn't that there's anything wrong or underhand with the process, but
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imagine doing it with no real understanding of what you're trying to do. I
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always advise house-hunters to employ the services of professionals," explains
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Karen White. With her husband, Steve, she runs Fervidus White, a buying agency
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that finds properties for British purchasers in Umbria and Lake Como.
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"Usually, clients are busy professionals and don't have the time or the desire
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to undertake big renovation projects or building works. We have some clients
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at the moment who are having a house built for them. They just fly out every
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six to eight weeks to check on progress," says Karen, who divides her time
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between Sussex and historic Perugia in Umbria.
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She says people such as John and Jackie Parkinson from Northamptonshire, who
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are retired, are typical of many British buyers. They wanted an Italian
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holiday home, but did not know where to start, so hired Fervidus White. "After
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a weekend viewing around six properties, we were able to make our choice,"
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John explains.
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The couple selected a derelict house in the Umbrian hamlet of Pietramelina.
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"Subsequent visits sorted out the purchase, as well as setting up bank
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accounts, and agreeing a development plan with the architect and gardener," he
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says.
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The emergence of buying agents for British buyers coincides with Italian house
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prices being surprisingly affordable. Values have fallen only a modest 10 per
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cent since the downturn, according to the Royal Institution of Chartered
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Surveyors' European survey, but the number of sales has dropped more, and
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remains 20 per cent below 2008 levels.
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Ironically, this is good news for Britons looking for a bargain. Sellers,
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aware they may have to compromise on asking prices, are now more willing to
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barter. Purchasers, for their part, are being extra diligent before shaking
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hands on a transaction.
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"Buyers are more hesitant and invest more time, money and energy into
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negotiating a good deal. They carry out intensive due diligence and research
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before committing," explains Gemma Bruce of GK Italian Property. She is
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another British buying agent - in this case in Tuscany and Umbria.
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Yet although the market has had a difficult few years, light is at the end of
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the tunnel. "This year, we have seen an increase in activity in the
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£800,000-£1.3 million bracket, with several sales of farmhouses in the Chianti
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area," says Gemma.
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More evidence of an upturn is British estate agency Chestertons decision to
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open an Italian office, following other top-end agencies, including Savills
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and Knight Frank.
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Sarah and Dominic Gothard, whose main home is in Brighton, hope this renewed
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British interest will help them clinch a sale on the old mill, near Siena,
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which they have used as a second home. They are holding two "open weeks" when
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prospective buyers will be offered discounted stays at local hotels, wine-
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tasting and lunch cooked by a chef trained at The Savoy.
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Tactics such as these are essential in today's challenging market, according
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to Karen White. "You can't take anything for granted. Make the property as
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homely as possible with quality furnishings," she says. "In these difficult
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times, you need to make more of an effort to sell your property."
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**For sale **
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**Lunigiana, Tuscany**
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This 250-year-old farmhouse and flour mill is close to the historic town of
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Bagnone, has four bedrooms and has been restored by the sellers with a stone
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courtyard, pool, terraces and car parking. £485,000 from Savills ( 020 7016
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3740; [**www.savills.com**][11])
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**San Giorgio, Abruzzo **
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Casa Rosa is a beautifully restored five-bedroom, three-bathroom farmhouse
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amid rolling hills, vineyards and olive groves. With private pool it has views
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of the Adriatic and Gran Sasso. £484,000, Hamptons (0039 06688 92870;
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[**www.hamptons.co.uk**][12])
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**Cetona, Siena**
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This recently renovated four-storey terraced property has three bedrooms and
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three bathrooms. It has panoramic views over the centre of Cetona. £255,000
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from Chesterton Humberts (020 3040 8210; [**www.chestertonhumberts.com**][13])
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**Special agent **
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Like buying agents in Britain, those abroad know the best locations
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Through estate agents contacts they often get "first refusal" on homes
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Agents speak the language and will be based locally
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They can bargain down the asking price (and sometimes base their fee on the
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saving)
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They can find solicitors, movers, decorators, etc
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A good agent can also supervise improvement work
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* Fervidus White (020 7193 1050; [**www.ferviduswhite.com**][14])
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* GK Italian Property (020 7993 2967; [**www.gkitalianproperty.com**][15])
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**Win a week's stay in a luxury cottage at Combe House Devon **
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Nominate your favourite place to live in the world and you will be entered
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into our fantastic prize draw. A lucky reader will win a week for two at a
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Grade II listed thatched cottage at the entrance to Combe House Devon. This
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Grade I Elizabethan manor house hotel is hidden in a 3,500-acre country
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estate, near Exeter, where Arabian horses and pheasants roam (normal price
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£3,000).
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The thatched cottage has its own walled garden and fully equipped Aga kitchen.
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But full English breakfast is included every morning plus dinner by
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candlelight with canapes on one evening of choice, all taken in the main
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house.
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This prize has been supplied by Combe House Devon (01404 540 400;
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[**www.combehousedevon.com**][16]).
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The lucky reader will also win flights up to the value of £1,000 courtesy of
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British Airways.
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To enter visit [**www.telegraph.co.uk/bestplacestolive**][17], register your
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details and nominate where you would most like to live in the world.
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Closing date is September 25.
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[What are these?][19]
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* Share: [Share][18] [ ][20] [ ][21]
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[Tweet][22]
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http://www.telegraph.co.uk/property/overseasproperty/8524156/Property-agents-
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make-it-easy-to-enjoy-la-dolce-vita.html
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Telegraph
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## [Overseas Property][23]
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* ### [Lifestyle »][24]
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* ### [Property »][25]
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* ### [Expat Property »][26]
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In property
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[![Castles for sale][27]][28]
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### [Property Picture Galleries][28]
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[![Interior of the new Oka store][29]][30]
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### [Interiors and Shopping][30]
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[![World's best places to live ][31]][32]
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### [World's best places to live][32]
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[![equity-release-guide][33]][34]
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### [The Daily Telegraph Guide to Equity Release][34]
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[![Bargain Hunter: The St Sulpice sofa][35]][36]
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### [Bargain hunter][36]
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[X][18] Share & bookmark
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[What are these?][19]
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Share:
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* [ ][18]
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* [ ][20]
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* [ ][21]
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* [Tweet][22]
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* Advertisement
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![][37]
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Please enable JavaScript to view the [comments powered by Disqus.][38] [blog
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comments powered by Disqus][39]
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