Malta Homes

We help you find the perfect property to buy or to rent.

  • Home
  • For Rent
    • Apartments
    • Penthouses
    • Maisonettes
    • Houses
  • For Sale
    • Apartments
    • Maisonettes
    • Penthouses
    • Houses
      • Houses of Character
      • Terraced Houses
      • Townhouses
    • Luxury Real Estate
  • Commercial
    • To Let
    • For Sale
  • Agents
  • Agency
  • Find Me a Home
  • List With Us
+356 9953 7712
Malta Homes

We help you find the perfect property to buy or to rent.

  • Home
  • For Rent
    • Apartments
    • Penthouses
    • Maisonettes
    • Houses
  • For Sale
    • Apartments
    • Maisonettes
    • Penthouses
    • Houses
      • Houses of Character
      • Terraced Houses
      • Townhouses
    • Luxury Real Estate
  • Commercial
    • To Let
    • For Sale
  • Agents
  • Agency
  • Find Me a Home
  • List With Us
+356 9953 7712
Looking for certain features

The Konvenju (Promise of Sale) in Malta: Explanation & FAQ

By

Nicola Schulz

Posted in Real Estate Glossary Malta On Apr 01, 2020

Once a buyer has selected a property he would like to buy in Malta, the konvenju will be signed. We have put together an FAQ to answer the most important questions about the konvenju.

What is the konvenju?

The konvenju also referred to as promise of sale or preliminary agreement is a document drafted by the notary public which binds seller and buyer to conclude a property purchase within a set time span subject to specific conditions.

How long is the time span?

The time span is usually three months and is called term of konvenju.

What are these conditions?

These conditions include but are not limited to:
– The purchase price
– Remaining construction works to be completed by the seller, if any
– Included items (e.g. furniture, kitchen), if any
– Necessary bank loans
– Necessary permits e.g. AIP permit
– Other special requests by either party

What happens if these conditions are not met?

If any of the agreed conditions stipulated in the konvenju are not met the buyer is not obliged to buy the property. For instance, if the vendor’s legal title is not in order or the purchaser is not granted a bank loan the property purchase will not be concluded.

Are there any payments due on signing the konvenju?

Yes, on signing the konvenju the buyer pays a deposit of usually 10 % of the purchase price. The deposit may be transferred directly to the vendor or kept by the notary. Further, 20 % of the stamp duty has to be paid by the buyer. The remaining 80 % is due on signing of the final deed.

If you have any further questions about the konvenju feel free to leave a comment, send us a message or reach out to one of our property agents. For more information, you may also read our guide for property purchasers in Malta or take a look at our properties being offered for sale.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Contact a property specialist

Nicola Schulz

Nicola Schulz

office@maltahomefinder.com
+356 9953 7712

Featured Properties

Featured
View Property

SLIEMA – Tigne point Luxury Apartment For Sale

SLIEMA TIGNE POINT. The dream home! A fully detached, designer…

Bedrooms
4
Bathrooms
3
Area
454 sq ft
For Sale

3.650.000€

Featured
View Property

ZEBBUG- Three Bedroom House of Character with Pool for sale

A lovely House of Character set in a quaint alley…

Bedrooms
3
Bathrooms
2
Area
220 sq
For Sale

630.000€

Related Searches

  • Property For Sale
    • Houses For Sale
      • Houses of Character For Sale
      • Townhouses For Sale
      • Terraced Houses For Sale
Malta Homes

/We find the property of your dreams in Malta!

Important Pages

  • Home
  • Property For Rent
  • Commercial Properties For Sale
  • Commercial Properties For Rent
  • Buying Property in Malta
  • Renting Property in Malta
  • Selling Property in Malta
  • Free Property Valuation
  • Real Estate Agents
  • Real Estate Agencies
  • Home Loan Calculator
  • Contact
  • Privacy Policy

Top Searches

  • Property For Sale
    • Apartments For Sale
    • Penthouses For Sale
    • Maisonettes For Sale
    • Houses For Sale
      • Houses of Character For Sale
      • Townhouses For Sale
      • Terraced Houses For Sale
      • Farmhouses For Sale
    • Luxury Real Estate For Sale
    • Garages For Sale
    • Land, Sites, Plots For Sale
    • On Plan Property For Sale
    • Cheap Property For Sale
    • Property For Sale In Gozo

Office Address

Triq F. Vidal, Is-Swieqi

+356 9953 7712

office@maltahomefinder.com

© 2022. All rights reserved.

|

Owning a home is a keystone of wealth… both financial affluence and emotional security.

Suze Orman
23rd May 2022 Monday!
Malta Homes
  • Login
Forget Password?