Understand what the preliminary agreement commits you to
The Consiglio Nazionale del Notariato describes the preliminary contract as a real contract obliging both parties to sign the final contract. It records the property, the price, the completion date and obligations to be fulfilled before handover. Treat it as a legal commitment, not as a place to hold a property while you investigate borrowing.
Ask your notary or lawyer how a loan refusal or a lower-than-expected valuation would affect the agreement. Any protection you need should be drafted for the particular transaction. An agent's verbal reassurance does not replace the terms you sign.
Decide how to protect money paid before completion
The Italian notaries' guidance identifies substantial advance payments, a long interval before completion and seller insolvency risk as reasons to consider a notarised and transcribed preliminary contract. Transcription has legal effects beyond a private agreement. Your notary should explain whether it is appropriate for the property and seller involved.
Keep a separate schedule of the deposit, later instalments, fees and the balance at completion. For each payment, establish who receives it, the evidence supplied and the contractual consequence if completion does not take place. The amount held as liquid cash should reflect that schedule.
Build a lender file that matches the purchase
Present the lender with the proposed ownership, residence, purchase price and timing. Ask which income documents, US tax returns, account statements and translations it requires. Clarify when the property valuation takes place and whether the loan amount is calculated from the price, the valuation or another basis.
If a bank asks you to establish an investment relationship, confirm that it accepts a US taxpayer in that service. Mortgage eligibility and investment eligibility are separate decisions. A quote is only useful when the lender understands the complete borrower profile.
Choose the source of euros before selling investments
Compare the available cash, a property mortgage and any portfolio-backed facility before instructing a large disposal. Selling securities, changing account ownership or transferring a portfolio can have consequences requiring US and Italian advice. The financing decision should be coordinated with that review.
A loan against securities does not remove market risk. Ask how the collateral is valued, what happens after a decline and whether the loan can be repaid from other liquid assets. Also consider the currency of the debt relative to your income and investments. Our portfolio-backed financing guide sets out the mechanics.
Prepare for Italian residence as a separate project
Ask your existing US broker which services it will maintain after an Italian address is registered. If a move is required, identify an institution that has confirmed it can serve you before closing or liquidating the old account. Our brokerage guide covers the questions to ask.
Give your advisers an inventory of foreign accounts, securities, real estate and ownership structures. Ask them specifically about Italian reporting, IVIE and IVAFE where relevant, and how these interact with your US obligations. Special regimes for new residents should be assessed for your arrival year and individual eligibility. A headline tax rate is not a basis for selecting an investment structure.
Do not assume a locally marketed investment fund is suitable for a US taxpayer. Read the PFIC overview before discussing proposed holdings with a specialist.
What to bring to a financing discussion
Send the draft purchase timetable, the proposed ownership, the amount required at each stage and a summary of available collateral. Amberlake can assess whether its banking relationships and portfolio management capabilities offer a route worth pursuing. The lender decides whether to approve the facility; the notary and legal advisers handle the purchase commitments.
Questions about moving to Italy
Is the compromesso only a reservation?
No. The Italian notaries' guidance describes the preliminary agreement as a contract obliging the parties to enter the final contract. Obtain advice before signing it.
When should an American buyer discuss financing in Italy?
Before entering a binding purchase commitment. Establish the lender's requirements and ask your legal adviser how a refusal, valuation shortfall or delay would be treated in the contract.
Should I sell my US investments to pay the deposit?
There is no universal answer. Compare liquidity and financing options and obtain advice on the consequences of a disposal before placing the trade.
Source and scope
Consiglio Nazionale del Notariato: the preliminary contract. Consulted 4 October 2026. This guide provides general information, not individual tax, legal or investment advice.