The reasons why investors usually buy cheap property for sale by owner in Florence, Italy (FSBO) is because this can offer some unique advantages, but it also comes with some risks.
Florence (Firenze in Italian) can be found in central Italy, within the Tuscany region, situated alongside the Arno River and approximately 275 km north of Rome and 85 km south of Bologna.
Why buy properties or invest in luxury real estate in Florence comprises of many reason including that Florence is easily accessible by train, car, and air via Florence Airport (Peretola).
Owning property for many wealthy buyers means prestige to the buyer, and a connection to Italy’s rich culture, world-renowned art, architecture, and world famous museums.
Buying cheap homes for 'Sale by Owner' is usually down to a lower price, there are No Agent Fees, as sellers often price FSBO properties lower because they're not paying a real estate agent commission which can be 5-6% of the sale price.
As a buyer or investor, there may be room to negotiate a better deal directly with the owner, which may allow for more flexible terms and quicker and easier negotiation.
If the property is undervalued due to being in poor condition or in a transitioning neighborhood, renovate to hold and build equity over time could be viable.
FSBO properties are often marketed less aggressively, meaning fewer buyers may be aware of the listing, and these properties are ideal for investors or looking to buy at a low price as FSBO deals are often below market value when requiring attention.
A higher risk of errors in paperwork or missing disclosures can though occur, so due diligence is required at all stages, and hiring a real estate attorney for the legal aspect is essential.
If you are an experienced buyer or investor, have cash on-hand or good options on financing, buying cheap homes in Florence, Italy that is for 'Sale by Owner' can be an option.
If looking at Italy as an overseas or foreign investor or buyer into Italian real estate, those who typically invest or purchase at €250,000 which varies according to the area chosen, can obtain Italian residency through the Golden Visa Program, making Italy an attractive gateway to the EU.
Italy offers both stability and opportunity to buyers and investors, as tourism to Italy brings in over 30 million visitors across the mainland and the Italian Isles.
Real Estate Agents and Property Developers in Florence, Italy
