This work analyses the characteristics of real estate foreclosures in Italy and the way the process works. Evidence is presented on the outcomes of these procedures, their length and the length of the main phases. We also study the effects of recent regulatory changes on the length of some phases and specific operations.
The analysis shows that a large share of foreclosure procedures terminates without the sale of the unit being completed. In procedures where the sale is completed, phases other than the actual sale (either preceding or following it) contribute significantly to the total length. Following recent regulatory changes, the length of the 'pre-sale' and, above all, the sale phase are being substantially reduced.
