The reasons why investors usually buy cheap property for sale by owner in Milan, Italy (FSBO) is because this can offer some unique advantages, but it also comes with some risks.
Milan is located in northern Italy, within the Lombardy region, and is known as the Italy’s economic and fashion capital, as well as easily reachable by rail and air to from European cities and across the globe to North America and Asia.
Why buy or invest in luxury real estate in Milan can be linked to Milan having the Italian Stock Exchange and the headquarters of major banks, multinational corporations, and design firms
With a stable economic base it ensures long-term demand for high-end properties in Milan.
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 Milan, 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 Milan, Italy
