Property market

Charities, double call for the disposal of testamentary legacies

The first expires on 24 April and concerns seven assets between Bologna, Turin, Rome, Belgioioso and Ancona. Following this, with an expiry date of 16 May, a further 12 will be put up for sale spread across Milan and other locations in Lombardy, Piedmont, Liguria and Sicily

by Davide Madeddu

18 April 2025

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Moral organisations put up for sale real estate from testamentary bequests or purchased in the past that is no longer needed for their activities. This is why the April and May auctions have been scheduled.

Tenders

In the first case, these were properties located in Bologna, Turin, Rome, Belgioioso and Ancona. Specifically, these are 7 properties. The starting prices range from EUR 105,000 for a flat located in Ancona to EUR 490,000 for a flat on the 5th and top floor of a building located in Rome (prati Trionfale) with 2 bedrooms, kitchen, bathroom, storage room and two balconies.

The call for bids expires on 24 April. Next up, with a deadline of 16 May, is the 32nd call for bids offering for sale a further 12 properties distributed between Milan and other locations in Lombardy, Piedmont, Liguria and Sicily. They range from the EUR 5,000 cost of a plot of land to the EUR 380,000 cost of a premises rented as a shop for EUR 40,000 a year.

This is a sales procedure by which and since 2009, 1,505 real estate lots owned by more than 50 moral entities and religious institutes have been auctioned.

"Participants in the tenders can count on the utmost transparency and fairness of the procedure," they say, "thanks also to the guarantee of the notary in charge of opening the bids and drawing up the notarial record.

All properties may be viewed by appointment to be fixed with the SAMO Italia real estate agency, which will provide all the documentation of the property, including the form to be filled out for the purchase offer to be sent by registered mail to the notary indicated.

The procedure to participate

No deposit is required to participate in the tender as the participation form has a security code that makes it usable only by the person to whom it was delivered during the inspection.

Once the highest bid resulting from the minutes drawn up by the notary is accepted, the entity will send a formal request to make a security deposit equal to five per cent of the price. The deposit must be made within three days of receipt of the entity's letter of request. It will then proceed to the stipulation of the compromise with the normal procedures and then to the deed.

Whoever wins the property will also be able to apply for a mortgage and thus take advantage of the usual time required by the bank to allow it to disburse the sum for the sale. "It is important to emphasise the ethical value of this type of property sale," the promoters underline. "In fact, thanks to the disposal of the properties put up for sale through this procedure, organisations will be able to finance their humanitarian and social projects, which are of fundamental importance, especially at this particular time in history, full of political, social and environmental criticalities.

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