Buying Property in Malta

CNW Property Malta Ltd will select an appropriate property that best fits your specific profile and budget. We will guide you through the process step by step and give you ideas on how to maximize the potential from each property.

Buying a property is one of the biggest financial commitments you will make in your life and is an exciting step forward. We understand the commitment required by you which is why we will also be committed to offering you a service that will make this journey as comfortable and successful as possible.

Once you have an idea of the type of property you would like to purchase and have a budget you are already well on the road to finding your desired property. Whilst this exercise may be easy for some it could take others a little longer due to the questions you need to ask yourself, you will also need to take into account your lifestyle and if you believe it will change in the near or distant future. This is a commitment not just financially but more to yourself, and providing the lifestyle you believe you want to live, and above all else deserve.

We will of course provide you with an initial consultation and guide you through the stages.

Stages of Buying Property in Malta

Initial Stages

Completing the personal profile
Contacting us to arrange the first consultation
Viewing of the carefully selected properties
Deciding on a property & presenting an offer
Negotiating the terms & if any work is required to be completed by the vendor etc...

Confirm price
Confirm if there is any ground rent i.e. is the property freehold, or is there temporary or perpetual ground rent?
Specify any works that may be required to be completed by the vendor

Signing of the convenue / promise of sale

This would include the negotiated terms plus
The terms of sale i.e. if it´s subject to Bank Loan or if the vendor is offering any attractive terms
The state the completion date

The purchaser pays 10% of the agreed sale price as a deposit & sign of goodwill to the vendor. This deposit is placed with the Notary or the Agent until the final contract is signed.

Kindly note that it is the purchaser´s right to choose the notary. We continually work closely with several notaries and would be more than happy to provide you with their details should you require it. If the purchaser fails to complete the purchase of the property and there is no valid reason by law the deposit is forfeited and becomes the property of the vendor.

The period between the initial stage and the secondary stage is 3 months unless otherwise stated.

Secondary Stage

Primarily the Notary needs to complete their process, the purchaser needs to put the finances in place & the vendor needs to complete all outstanding jobs.
Notary will register the contract of sale with the Commissioner of Inland Revenue, within 3 weeks of the signing, and pay 1% of the sale price. This is put on account and the remaining amount is paid by the purchaser on the final deed of sale.
Notary will carry out the searches. This will clarify if there are any hypothecs on the property, if there are any outstanding debts, and who the property is owned by at that point in time.

Purchaser needs to ensure that the finances are in place. If a Bank Loan is required please ensure that everything is okay and will be available on the due date.

Vendor is required to complete any works required to be carried out in terms of the preliminary agreement.

Final Stage

Notary would have the following completed; searches,1% paid to the Commissioner of Inland Revenue, clarify any hypothec/outstanding debts, clarify the legal title of the property, have the sale agreement drawn up in accordance with law and to include all the terms and conditions of sale.
Purchaser would have the following payments in order; remaining amount of agreed sale price ( the sale price less the 10% deposit previously paid), remaining stamp duty 4% (5% less 1% paid on account to Commissioner of Inland Revenue),Notary fees and Estate Agent Fees where applicable
Vendor would have completed all the works as per preliminary agreement, and prepare the brokerage fee for the Estate Agent

Once these are in place the final signing by the vendor and purchaser can be carried out and the necessary payments passed onto the relevant parties, then the vendor will pass the keys of to the purchaser - the new property owner. If there is a bank loan in place the signing of the agreements and delivery of payments will be carried out at the said Bank. If there is no bank loan required the signing will be carried out at the notaries office.

Please note these are guidelines on the stages of purchasing property in Malta. They are in no way exhaustive nor legally binding. Your notaries will go through each stage and requirements in a more detailed manner & will answer all legal question or queries you may have with this transaction.

For foreign nationals there are certain criteria and formalities depending on your status. kindly contact us and we will direct you accordingly.

Stages of Buying in Malta..read more>>

Inital Stage>>

Completing the personal profile
Contacting us to arrange the first..read more>>

Secondary Stage>>

Primarily the Notary needs to complete their process, the purchaser needs to put the finances in place & the vendor needs to.. read more>>

Final Stage>>

Notary would have the following completed; searches,1% paid to the Commissioner of Inland Revenue, clarify any hypothec/outstanding .. read more>>

Contact Us

A: CNW Property Malta Ltd
6, Conception Street
Zurrieq
ZRQ 3404
Malta

T/F: 00356 27019394

M: 00356 99809394

E: cnw@cnwpropertymalta.com