The Perito
What the Bank's Appraiser Checks (and Why It Matters)

What is the perito?

The perito is an independent valuer appointed by the bank to assess the market value of the property you want to buy. They are a registered professional — typically a geometra (land surveyor) or an architect — and they are legally required to be independent from both the bank and the borrower.

Their written report becomes the basis on which the bank calculates how much it will lend.

Note the word "independent": you cannot choose the perito, and you cannot influence their assessment. The bank assigns them. Their obligation is to report accurately to the bank — not to facilitate your transaction.

How the perito directly affects your LTV

Italian mortgage LTV (loan-to-value ratio) is calculated against the perito's valuation — not the purchase price — unless the purchase price is lower. The bank always uses the lower of the two figures.

Valuation gaps of 5–15% below the negotiated price are not unusual. They are particularly common in renovated properties where the seller's price reflects recent works but the cadastral records don't yet reflect those improvements, or in markets where comparable recent sales are thin.

This is not a flaw in the system. It is the system working as intended — the bank is protecting itself. But it is a practical risk that foreign buyers need to build into their cash planning from the start.

What the perito examines

The perito's visit typically takes 30–60 minutes. They assess:

Physical condition and general state
Visible structural condition, quality of works, overall state of maintenance. The perito notes anything that affects market value — but they are not a structural surveyor doing a building survey for the buyer's benefit.

Conformità urbanistica (planning compliance)
One of the most consequential checks. The perito verifies that the property's current physical state matches the approved plans on record at the comune (planimetria catastale). Unauthorized additions or modifications — even minor ones, such as a repositioned wall, a closed-in terrace, or a reconfigured kitchen — will be flagged as abusi edilizi.

Documentation and certificates
The perito reviews key documents, including the certificato di agibilità (habitability certificate) confirming the property is legally habitable. Missing or irregular documentation will be noted in the report.

Market comparables
The perito uses comparable recent sales in the area to arrive at their market value estimate. In areas with few recent transactions, comparable data may be limited, which can affect the precision of the valuation.

Common issues that cause problems

Difformità catastale (cadastral discrepancies)
The floor plan registered at the catasto doesn't match the physical property. Very common in older Italian apartments — kitchens repositioned, bathrooms added, walls removed. Many can be regularized before the perito visit, but regularization requires time and a professional (typically a geometra). Ask the seller directly before making an offer.

Abusi edilizi (unauthorized building works)
More serious than a cadastral discrepancy. Work built without permits. Depending on the era, the type, and the size of the abuse, some can be regularized through a condono edilizio or a permesso in sanatoria; others cannot. Banks will generally not proceed on a property with non-regularizable abusi edilizi.

Below-market valuation
Even without irregularities, the perito may simply assess the property below the negotiated price. This is inherent in the process and not a signal that anything is wrong — it reflects the bank's conservative approach to asset valuation.

What happens if the valuation comes in low

If the perito's valuation is below the purchase price, you have three realistic options:

1. Cover the gap in cash. The most common outcome. You proceed at the agreed purchase price and bring additional funds to closing to bridge the difference between the bank's maximum loan (based on the perito value) and the price.

2. Renegotiate with the seller. More feasible than buyers sometimes expect. An independent third-party professional valuation is a credible basis for renegotiation. Sellers who were priced above market often accept a reduction when presented with objective evidence.

3. Exit the deal. If your proposta or compromesso includes a clausola sospensiva mutuo (mortgage condition clause) that covers insufficient financing — not just outright refusal — you may be able to exit without losing the deposit. How the clause is worded matters; review it carefully before signing.

Timeline and cost

The bank typically orders the perito visit after the initial pre-approval (predelibera) or at the formal instruction (istruttoria) stage. The perito usually visits within 5–10 business days and submits their report within 2–3 business days of the visit.

The cost — typically €200–€400 — is either included in the bank's instruction fee (spese istruttoria) or charged separately. It is paid by the buyer regardless of whether the transaction ultimately proceeds.