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PURCHASE PROPOSALS

The proposed sale or purchase to buy property in Italy

The proposed sale or purchase is a document that the parties may sign before the sale itself. It consists, respectively, in the manifestation of willingness to sell made by the owner of the property to a prospective buyer or the manifestation of the will of the purchase made by a prospective buyer to the owner of the property. In both cases, with the acceptance of the proposal, although it is not generally what people believe, the contract of sale is perfected and binding on both parties.

Moreover, the proposal, whether it is for sale or purchase, it is usually irrevocable: that is, the proposer agrees to hold it for a certain period of time during which, even if he wanted to withdraw it because maybe he changed his mind, he cannot do it, or if it does, it has no effect.

However it can also occur that a proposal can be revocable and allows the proposer to retrace his steps, only to a certain limit, beyond which it is no longer possible to revoke it.

Usually business practices mean that the real estate agencies use preprinted forms that, on one hand, do not allow the private contractor to modify the content of the proposal and, on the other, involve the irrevocability to "lock" the future seller or buyer.
So, contrary to what one might commonly believe, it is not so easy, when signed the proposal, to recede from it. The assistance of a lawyer is certainly useful before you sign any document relating to the sale of a property. He will give you all the necessary information on the nature and the content of the document to be signed in order to avoid you unpleasant surprises.

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