BUYING PROPERTY IN MALTA
Our firm can provide you with
comprehensive assistance in connection with buying your holiday home
or your permanent / retirement home in Malta.
Procedure for property acquisition
Choose a property and agree on the
price with the seller;
We draw up and negotiate a Preliminary
Agreement of sale that is acceptable to both parties;
The Preliminary Agreement is signed at
our office by you (or, in your absence, one of our lawyers on your
behalf by power of attorney) and by the seller.
This is normally valid for three
months, but a longer or shorter period can be agreed upon.
Normally a deposit of 10% of the
purchase price is lodged with us on signing this contract; this is
forfeited in favour of the vendor, if the sale is not completed by
you without a legally valid reason.
This contract binds both parties to
keep their agreement for the sale subject to a number of conditions
/ procedures being fulfilled before the contact lapses;
Signature of a final Deed of Sale and
passing of the keys to the new property owners.
We are in a position to provide a full
service in connection with the drafting, review and
negotiation of preliminary agreements proposed by the sellers.
Our role during the three month term of the Preliminary Agreement
conducting the necessary legal searches
and trace the seller's title to the property to ensure that the
property rightfully belongs to him and that it is not affected by
any liabilities (hypothecs, privileges, etc.) burdening the
instructing an architect to check
whether all the necessary planning permits are in place and to
ensure that the property is vacant so that you can take up immediate
applying for an
AIP permit (the Government
authorisation required by non-resident seeking to acquire property
in Malta. A process of 1-3 months.
To afford our clients a comprehensive
service, we have fostered relationships with property sales consultants who maintain the same level of service and loyalty that
our clients are used to getting from us. These will pick you up at
your hotel and drive you round on various property viewings,
possibly on weekends if your time is limited.
The typical fee chargeable to
sellers and buyers by private property brokers for their services is equivalent to
one per cent each. The brokerage commission chargeable by
local real estate agents is incorporate in the price and is payable
by the seller only.
Benefits of purchasing Maltese
Conditions for the granting of A.I.P. permits.
Property in Malta
Immigration and Residence Permits