What if a client in Italy runs out of financing for the second payment date for a new property? Is the first payment forfeited?
If a client in Italy runs out of financing for a second payment date for a new property, the consequences depend on the terms of the preliminary contract (Compromesso). Here’s what can happen:
- loss of first payment (advance payment)
- possibility to negotiate with the developer
- loss of right to real estate
- Legal implications
