Trevi Elite provides a full range of services for the selection, examination and legal support of transactions for the sale and purchase of hotel properties in Italy. Buying a hotel is very different from buying a residential property.
Here are the main aspects of this process:
Signing a professional search order in Italian with a translation into English, where the data of the potential buyer’s company should be indicated and a presentation should be attached.
Selection of hotel options, including “off-market”. To obtain detailed information on eligible properties, you must sign a Non Disclosure Agreement (NDA).
In case of interest in purchasing a hotel, a Letter of Interest (LOI Letter of Interest) is drawn up in the name of the owner of the hotel, a deposit in the agreed amount is transferred to the deposit account of a trusted notary to confirm the seriousness of intentions.
From this moment, the potential Buyer begins to conduct due diligence with the involvement of specialists entrusted to him.
With a positive result of the examination, an Irrevocable Purchase Offer is drawn up, upon signing of which a cash deposit is paid (usually 10% of the offered price).
The next stage of the transaction is the Preliminary Agreement, upon signing of which 20% – 25% of the value of the object is paid as a confirmation deposit.
The final stage of the transaction is the final contract of sale, signed in the presence of a notary, which is notarized in the relevant authorities.
The cost of agency services when buying a hotel
Real estate agency commission is from 3% to 5% (≤500 thousand € – 5%; ≤1 million € – 4%; >1 million € – 3%), but not less than € 5000 + VAT, depending from the value of the property. The final settlement with the real estate agency takes place at the signing of the final contract of sale.