The method of property purchase is simple. On finding the right property and agreeing on a price a preliminary agreement (convenium) is signed, binding the vendor to sell and the purchaser to buy the property at the agreed price within a stipulated time and under other terms agreed upon by the parties to the agreement. The agreement must be subject to the acquisition of the A.I.P. permit (in the case of non-residents). It is the practice that 10% of the purchase price is paid on the convenium either by way of deposit or earnest as agreed between the parties. The preliminary agreement is normally but not necessarily for a period of three months during which period the Notary Public nominated by the purchaser carries out searches to ascertain the validity of the title. On the expiration of the agreed period if all the conditions of the preliminary agreement are satisfied, a final deed of sale will be entered into between the parties to the agreement and full ownership is attained.

The same process is repeated for the sale of property in Malta and Gozo, where once again our Agency can assist you.