Ten Steps to Owning Property in Italy Through Tuscan Hills, LLC

In addition to being one of the most beautiful countries in Europe, Italy has proven an excellent country for real estate investing particularly in Tuscany, Umbria, and on the Italian Riviera. It also is one of the easiest and safest countries for U.S. residents to invest.

Tuscan Hills offers you the ability to purchase and restore a property in Tuscany or Umbria and commit as much time and energy to the process as you’d like. Our team in Princeton works with clients throughout the process while our architects and project managers in San Gimignano, Italy oversee the restoration on-site. Once completed, Tuscan Hills can manage, market, and rent the property for you to generate an income stream from your investment.

Tuscan Hills provides the full complement of services unmatched anywhere in the U.S. by helping you to locate, restore, rent, and manage your property right from your home or office. Never before has it been so easy to own a piece of one of the world’s most beautiful countryside. Begin to realize your dream today…

Step 1:

Visit Italy as often as you can, stay in one of our villa rental properties, and experience life the way Italians do. Relax and contemplate where you would like to spend your holidays, and perhaps visit several different Regions to get a sense of their distinct characteristics.

How We Can Help: Tuscan Hills in partnership with Tuscany Now Ltd. (London) offers more than 200 properties to rent throughout Italy. We can assist you in locating a property that best meets your needs and arrange the accommodation for you over the phone or in person.

Step 2:

Begin your research process by viewing the property listing here on our website, contacting us and/or visiting our Showroom in Princeton, NJ.

How We Can Help: We will answer all of your questions about buying a property in Italy. We will show you a number of properties currently available and begin to determine your property requirements and budget. We have extensive information on every step of the restoration process including photographs and financial documents of other projects we have recently completed.

Step 3:

Talk to your financial advisor and/or tax accountant to ensure that this investment compliments your portfolio.

How We Can Help: We can discuss several innovative financing techniques and also refer you to financial advisors and accountants who assist clients with the real estate purchase process. We have a wealth of research on property values in Italy, travel and tourist trends, projected costs for restoration, and more than 14 years of rental income data to accurately project your annual income stream.

Step 4:

Further narrow your property search to several properties that interest you and fall within your budget. Contact us to arrange a meeting with our partners in Italy who can show you the properties and several of our restoration projects currently underway.

How We Can Help: We update our website regularly so that you can view our current property listings and prices. Our teams in Princeton and San Gimignano will advise you on properties that best suit you based upon your investment goals, market values, restoration costs, and projected rental income. Visiting the properties to experience their unique structures, positioning, and landscape is a critical step in the process.

Steps 5 and 6:

After visiting the properties and deciding which one to purchase, the next step is to sign the “Option to Buy” agreement. The Option to Buy agreement is not a legal document, but rather represents a level of interest to the seller who often will not allow other clients to visit the property for a period of time (1-2 weeks). This two-week period allows you time to organize financing and if necessary visit the property. It also requires a small fully refundable deposit (5,000-10,000 euro).

An Option to Buy agreement is not always necessary. You may skip this step and complete a Preliminary Agreement. This agreement is a legal document that establishes the purchase price and sets the deadline for transferring the deed (usually 6-8 weeks). A deposit of 25% of the purchase price is payable at this time.

How We Can Help: Tuscan Hills will prepare the Option to Buy and Preliminary Agreement. While the wording of the Option agreement is not critical, the Preliminary Agreement language must ensure that the buyer may withdraw from the purchase without any penalty should unforeseen issues arise that are the responsibility of the seller. We also work closely with you to determine the best offering price (when negotiable) and coordinate all activities necessary to complete the sale. We frequently obtain power of attorney from our clients so that we may act on their behalf for document signing in Italy.

Step 7:

Meet with the Tuscan Hills project manager to review initial restoration plans.
How We Can Help: For several of the unrestored properties, we have developed preliminary architectural plans and artist renditions of the property. We can begin to work with you to discuss internal design requirements and revisions to the proposed plans. We also can begin to discuss the timeline for the restoration, materials, and preliminary landscaping plans. Because strict rules govern construction in Italy, our experienced staff will use this information to begin obtaining any additional planning permits if necessary.

Step 8:

Complete the contract for final deed (contratto notarile). This is the formal agreement between buyer, seller, and the real estate agency. The deed is developed by the notary and affects the property transfer in exchange for the balance of the sale price. (During the period between the completion of the Preliminary Agreement and the Final Deed, the notary prepares a variety of documents for land registration).

How We Can Help: A geometra (whose job is a combination of architect, engineer, and surveyor) must assess the property and provide certification of the structural condition of the building(s). The Tuscan Hills geometre have extensive knowledge of historical building structures and techniques and are well versed in local permitting and regulations governing restorations. They will provide a comprehensive assessment of the building’s integrity. We handle all aspects of the closing process to ensure the final deeds are transferred and recorded correctly.

Step 9:

Begin to restore the property of your dreams.

How We Can Help: Now that the property is officially yours, you can be as involved in the restoration process as you would like or as your time permits. Our Princeton-based staff will work with you every step of the way and provide accurate cost projections and monthly progress reports. Our project team in San Gimignano will handle all aspects of the restoration, contracting local artisans and sourcing top quality materials consistent with the building’s original structure. As the restoration progresses, we will continuously send updated photos electronically so you can see the evolution of your home in real time.

Step 10:

Relax and enjoy your new home as often as you can. If you would like to generate an income from your investment, allow us to manage and rent it to international travelers.

How We Can Help: Tuscan Hills provides full service property management support. Each property under our care is assigned to a property manager who lives nearby and takes full responsibility for every aspect of the building, including the interiors, landscaping, and swimming pool throughout the year. Our managers also serve as the local point of contact for your clients to ensure that the property is well maintained and consistent with the highest quality standards. Our partner Tuscany Now Ltd. currently manages over 200 properties in Italy and will add your property to their exclusive rental program if it meets their strict standards.


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