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PostPosted: February 21st, 2015, 9:37 am 
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Joined: June 5th, 2007, 4:36 pm
Posts: 1105
Location: Italy
The Italian government has just announced a slew of reforms amongst which there an interesting one regarding the purchase of real estate.

If it passes parliament it means it will be possible to buy and sell property under 100k with a digital signature witnessed by a lawyer, potentially saving costs.

Is this a bit how it's done in the uk?


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PostPosted: February 21st, 2015, 8:21 pm 
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Joined: June 25th, 2008, 6:39 pm
Posts: 1171
Location: Carmarthen, south west Wales / Santa Maria di Ricadi, Capo Vaticano
Purchasing a property in England and Wales can be quite fraught and stressful with solicitors being slow in performing their due diligence and replying to queries,. The property you wish to buy being in a "chain" with the possibility of many buyers all waiting for the first person in the "chain" to complete. Instruct a surveyor to report on the property, secure a mortgage if required etc.
You normally have to sign when you Exhange documents and pay your deposit. Further checks are then made before completion when the full amount has to be paid and documents signed.
If you do get cold feet after the exchange of contracts you can pull out but you will lose your deposit. In Scotland it is different in as much as when you pay your deposit after acceptance of your offer you are then committed to complete the purchase.
There is no facility to accept a digital signature as far as I am aware but your solicitor I believe can sign on your behalf.
I think that this is the situation since I last purchased a property in England in 1997.


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