Notary Public & Commissioner for Oaths


What is the relevance of the ‘konvenju’ (promise of sale)?

The ‘konvenju’ is a binding promise between the seller and the buyer in which they agree to appear on a final deed of sale and purchase within the time-frame stipulated in the same ‘konvenju’, and with the price and conditions as set out therein.

This means that the parties cannot change their mind and decide not to appear on the final deed of sale. If one of the parties fails to do so, the other party can use the relative judicial procedure to force the other party to appear. The ‘konvenju’ will however typically allow the buyer to withdraw from it if the searches are not in order or if the bank loan is not given. Other conditions may be agreed upon between the parties.


The Deposit on the ‘Konvenju’ - Aid for First-Time Buyers (I)

Created on Monday, 19 November 2012 16:22

Is the deposit given to the seller on the day of the promise of sale (konvenju)?

There is no fixed procedure at Maltese law concerning the deposit. In fact, the law in Malta does not oblige the purchasers to pay a deposit to the seller. However, it is a standard practice for the purchasers to pay a 10% deposit to the seller on the ‘konvenju’. A different amount may be agreed upon between the parties. Nevertheless, first-time buyers should be advised that banks in Malta will not normally give more than a 90% loan of the selling price.


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