The new legislation: Decreto Legislativo 122 introduced on 20/6/2005 includes some important changes with regards to the preliminary contract, offering greater protection for buyers.
Apart from the fact that developers must now provide buyers with guarantees, when entering into a contract with an agent/property developer to build your house, the preliminary contract must also contain much more information (it is a mandatory requirement), of which the most important include:
1)Maximum build times (termini massimi di esecuzione della costruzione) required for completion.
2)Details of all building permissions, as per the provisions made in the planning laws (concessioni & permessi edilizi), which relate to your building project.
Il Sole 24 Ore (7/7/2005) dedicated 2 whole pages to the contratto preliminare. The article highlights the importance of this contract, something that many overseas buyers seem to overlook and willingly entrust to people who are not suitably qualified to prepare.
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