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 in Malta
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Choose a property and agree on the price with the seller;
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We draw up and negotiate a Preliminary Agreement of sale that is acceptable to both parties;
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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.
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This is normally valid for three months, but a longer or shorter period can be agreed upon.
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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.
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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;
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Signature of a final Deed of Sale and passing of the keys to the new property owners.
Malta Property Purchasing Assistance
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 consists of:
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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 property.
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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 possession.
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applying for an AIP permit (the Government authorisation required by non-resident seeking to acquire property in Malta. A process of 1-3 months.
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drafting of a Maltese will to govern your property in Malta.
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.
Malta Property Purchase Publications
Benefits of purchasing Maltese property.
Conditions for the granting of A.I.P. permits.
See also: Immigration and Residence Permits
