Malta — Property: Buying Process

Key facts

• The buyer and seller sign a Preliminary Agreement, the konvenju, which binds both and sets a date for completion.
• The buyer pays an agreed deposit, usually 10% of the price, and 1% provisional stamp duty as part payment of the full 5%.
• The notary registers the promise of sale with the tax authority within 21 days of signing, with the provisional duty.
• The notary researches title and checks for debts, hypothecs and liens before the final deed; the government guide gives no fixed timeframe for the deed.
• Within 15 days of the deed the notary must apply for Land Registry registration where the property is in a registration area.

Steps

1. Step 1: Finding a property — Work with a reputable estate agent to find a suitable property. The agent will guide you through the sales process and ensure all necessary paperwork is in order.
2. Step 2: Making an offer — Once you've found a property, the estate agent will help you make an offer on the property. The offer must be in writing and will typically be accepted or rejected within a few days.
3. Step 3: Notarization — The sale of property in Malta is typically notarized, and the notary will conduct the necessary checks. This includes verifying the identity of the buyer and seller, as well as ensuring the property is free of any liens or mortgages.
4. Step 4: Registration — After the sale has been notarized, the buyer and seller must register the property with the Maltese authorities. This includes registering the transfer of ownership and updating the property's title deeds.