How to Sell Your Maltese Property: A Step-by-Step Guide
The selling process in Malta is grounded in civil law and is highly procedural. This guide provides an overview of the stages to help you navigate the Mediterranean market with confidence.
Step 1: Agent visits and the Agency Agreement
The process begins with an estate agent (sensar) visiting your property. In Malta’s competitive market, local knowledge is vital for distinguishing between “asking prices” and actual “market value.”
During this visit, the agent will:
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Assess Maltese features: Highlight traditional elements like maltese tiles, globigerina limestone, or traditional timber balconies (gallarija), which can significantly boost value.
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Discuss the Mandate: You can choose an Open Agency (listing with many agents) or a Sole Agency (exclusive). Sole agency often carries a lower commission (usually 3.5% instead of 5%).
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Verify Permits: Check that all structural changes are covered by Planning Authority permits, as this is a common “deal-breaker” in Malta.
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Collect Property Plans: Accurate site plans are essential for the Notary’s future research.
Step 2: Energy Performance Certificate (EPC)
In Malta, it is a legal requirement to have an Energy Performance Certificate (EPC) before a property is even put on the market.
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The EPC rating must be included in all advertisements.
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It is valid for 10 years, provided no major renovations occur.
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As the seller, you are responsible for commissioning an accredited assessor to produce this document.
Step 3: Marketing and the “Sensari”
Marketing in Malta is fast-paced. Beyond digital portals like PropertyMarket.com.mt, agents often use their personal networks to find buyers. High-quality photography and “staging” are increasingly important as the supply of modern apartments grows.
Step 4: Negotiating and the Konvenju
Once an offer is accepted, both parties meet with a Notary Public to sign the Konvenju (Promise of Sale).
The Konvenju stage involves:
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The Deposit: The buyer typically pays a 10% deposit, which is usually held by the Notary in escrow.
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Provisional Tax: You (the seller) must pay 1% of the sale price as a provisional payment toward your Final Withholding Tax (usually 8% of the total price).
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Terms and Conditions: The agreement usually lasts for 3 to 6 months to allow the Notary to conduct “searches” into the property’s title and history.
Step 5: The Term of Konvenju
During this period, the Notary performs “due diligence.” As the seller, you must ensure:
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Ground Rent (Ċens): If the property is subject to ground rent, you must provide the last few receipts showing it is paid up.
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Inventory: A detailed list of furniture and fittings included in the sale is finalized.
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Liabilities: Any outstanding mortgage or “hypothecs” on the property are identified so they can be settled at the final signing.
Step 6: The Final Deed
Once the Notary’s searches are clear and the buyer’s bank has approved the loan, the Final Deed is signed, typically at the Notary’s office or a bank.
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The Reading: The Notary reads the deed aloud.
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Settlement: The buyer pays the balance. From this, the Notary ensures your agent’s commission is paid and any outstanding mortgage is settled directly with your bank.
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Final Tax: The remaining Final Withholding Tax is settled.
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Handover: You hand over the keys and all original documents (permits, plans, and the EPC) to the new owner.
Congratulations, you have successfully sold your Maltese property!