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Once mutual interest is confirmed, the first formal step is the Letter of Intent (LOI). This document outlines the main commercial terms agreed between the buyer and the seller, such as:

• The purchase price and payment structure.
• The timeline for due diligence and completion.
• Any exclusivity period.
• Confidentiality undertakings.

While the LOI is generally non-binding, it serves as a roadmap for the negotiation, ensuring that both sides share a clear understanding of the proposed deal structure. It is important to note that certain clauses — such as confidentiality, exclusivity, and the choice of governing law — are usually legally binding.

After the LOI is signed, the buyer's advisors are granted access to a secure Data Room containing all relevant property documentation. This stage is crucial for assessing the asset and verifying its compliance from multiple perspectives:

• Legal Due Diligence: Verification of ownership, title deeds, cadastral records, zoning and urban planning compliance, existing leases, and encumbrances.
• Technical Due Diligence: Inspection of structural integrity, building systems (electrical, HVAC, fire safety), and potential maintenance or renovation needs.
• Environmental Due Diligence: Assessment of any contamination risk or environmental liability in accordance with Italian and EU law.
• Financial & Tax Review: Analysis of rental income (if applicable), operating expenses, tax status, and potential returns.

The findings are summarized in a Due Diligence Report, which allows the buyer to make informed decisions and, if needed, to negotiate adjustments or warranties in the next contractual phase.

Following satisfactory due diligence, the parties move on to the Sale and Purchase Agreement (SPA). This is a binding contract that defines the legal and financial framework of the transaction.

Key elements include:

• The description of the property.
• The purchase price and payment schedule.
• The representations and warranties provided by the seller.
• Any conditions precedent (e.g., mortgage cancellation or permits).
• The closing mechanics before the notary.

In Italy, real estate transfers must be executed before a Notary Public (Notaio), who verifies the legality of the transaction and registers the deed with the Italian Land Registry (Conservatoria dei Registri Immobiliari).

The closing takes place at the notary's office. At this stage:

• The buyer transfers the agreed purchase price.
• The notary executes the public deed of sale (rogito notarile).
• The ownership is officially transferred.

Taxes and notarial fees are settled immediately, and the notary files the deed for official registration and cadastral update. This ensures that the buyer's ownership rights are publicly recorded and fully protected under Italian law.

Following completion, we assist the investor with all post-closing procedures, including:

• Registration and tax documentation.
• Utilities and service transfers.
• Property management onboarding.
• Coordination with local authorities, banks, or tenants.

This integrated support guarantees a smooth transition of ownership and operational control of the asset.