Selling a Property in Malta

In this guide, you will learn why you should use a local estate agent, how to make the most out of your viewings and the legal process involved in selling.

Selling your property through an estate agent

We recommend selling your property through the services of an experienced estate agent in your area to help reduce the stress involved with selling.

By using one of our registered local estate agencies, you will benefit from the following services:

• You will be given the real market value from an agent who knows your area
• They will market your property in the right places to bring you the right people at their expense
• They will arrange viewings with serious buyers
• Negotiate any offers
• Guide you through the selling process and help the buyer with other professional services required to see the transaction through

It’s important that once you have decided to use the services of an estate agent and you have signed a selling agreement with them, that you understand it and their commission rates. On your behalf, they will market your property, take high quality photographs and write a good description. Local agents who know your area will get you the most accurate market value as they will understand the current market better than anyone else.

Making the most out of your viewings

Once your property is on the market it’s important that your property is ready, give it the best chances of selling. First impressions are so important and it’s a proven fact that some buyers can make their mind up before even entering the property.

Things to consider:

• Could you tidy up the façade in anyway?
• If you have a garden, is it in good order?
• Does the front door need a fresh coat of paint?
• Do the front windows need a clean?

Once inside its equally important to leave a good impression. You want the potential buyer to see this as a possible home.

• Keep it clean and tidy. Remove any extra clutter and use storage sensibly.
• Do all minor repairs, so not to give the potential buyer an extra reason not to buy.
• Make the place comfortable, cool on a hot day and warm on a cold day.
• If you have pets or you smoke, make sure there are no odours. Freshen the place up in advance with some fresh flowers, air freshener or even some cooking.

When the time comes and an acceptable offer is passed to you through the agent, it’s important to do a Promise of Sale as soon as possible at a Notary to make it official.

If for some reason, you’re having problems selling you should: contact the agents you’re using and ask them why; see what feedback has been given to them from the viewings; see if your listing can be improved with better pictures or a description and possibly consider reducing the price.

Selling the property

Once you and the buyer have agreed on a price through the agent, the next step is to go to the buyer’s Notary to put the agreement in writing in the form of a preliminary contract known locally as a ‘konvenju’. This contract usually expects the buyer to pay a minimum of 10% deposit to be held by the Notary for a predetermined amount of time and is typically subject to some terms and conditions. The buyer will also have to pay 1% of the value of the property towards the taxes (Total amount of tax to be paid varies).

The Notary will then be responsible for the transfer of the property through a number of procedures which can sometimes make the whole process seem rather complex.

It’s important to note that the Notary fees are the responsibility of the buyer and settled on the day of the contract.