Malta is one of the islands that attract tourists every year due to the beauty of the Mediterranean Sea. The island country is attractive not only as a tourist destination but also as a business location. It is appreciated for its beautiful landscapes and architecture. If you are interested in the Malta property for sale, it is appreciated for its beautiful landscapes and architecture. If you are interested in the sale for a property in Malta. There are some processes of Malta property for sale the following:
- Valuing The Property
You are decided to sell one’s property, an owner’s first challenge is to establish the market value of the same and set the price for which it is to be sold. First, you are determining the right price that is crucial not only from a marketing perspective to attract potential buyers. This is also from a financial point of view in that the price set for the sale determines the taxable amount of the said transaction.
- The Promise Of Sale Agreement
The Promise of Sale Agreement is one of the important phases in the acquisition process. This property shall eventually be purchased. The buyer and the seller are based on prior negotiations. A standard Promise of Sale Agreement is including:
- Details of the contracting parties
- A detailed description of the property
- It has details on payment of a deposit
- Minimum conditions surrounding the purchase;
- The agreement is working to be undertaken
- Clauses on the payment due to the estate agent
- The vendor will be warranted peaceful possession according to law
- It is the authority to the Notary to register the Promise of Sale Agreement with the Commissioner of Inland Revenue.
- The Final Deed of Sale
- The bank loan is having the buyer, the balance is not collected directly from the buyer but the seller is paid by the bank on account of the loan granted to the buyer.
- The ways of the property are handed over to the purchaser or their representative. Bank representatives are appearing on the Final Deed of Sale to sign the relevant documentation.
- The Final Deed is usually divided into two parts such as the first agreement made between the bank and the purchasers, and a second agreement made for the purchase of the property.