Contract Signed on August 2, 2007

Yesterday at 6 pm we met and signed the final contract and handed over a down payment. We didn't ask for a translation, but Massimo, our realtor, did a fine job of explaining the important points to us. (We think.) It seems pretty standard. The absolute final date for completion is April 30, 2008, but it is expected to be completed a month or so prior. Having lived in Southern Italy for a few years, I dared ask the question: "What if it isn't completed?" Well once all of the Northern Italians in the room recovered from the insult I unknowingly threw at them, we learned that there is an Italian law that imposes heavy fines on the builder if he doesn't deliver by the contracted date -- likewise, we lose our downpayment and rights to the house if we don't deliver the Euro. The current exchange rate (about .70 Euro to 1 dollar) is just killing us.