Agreement To Sell for Malta
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Agreement To Sell
"I need an Agreement to Sell for a residential property in Sliema, Malta, with a completion date of March 15, 2025, which includes a bank financing clause and needs to account for an existing tenant who will vacate by completion."
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1. Parties: Identification and details of the Promise Purchaser and Promise Seller, including ID numbers, addresses, and marital status
2. Background: Context of the agreement, including brief description of the property and parties' intention to enter into a Promise of Sale agreement
3. Definitions: Key terms used throughout the agreement, including 'Property', 'Deposit', 'Final Deed', and 'Completion Date'
4. Property Description: Detailed description of the property being sold, including boundaries, measurements, and any rights or burdens
5. Purchase Price: Agreed purchase price, payment terms, deposit amount, and method of payment
6. Duration of Promise: Validity period of the preliminary agreement and the date by when the final deed must be executed
7. Conditions for Final Deed: Prerequisites and conditions that must be fulfilled before executing the final deed of sale
8. Deposit Terms: Amount, payment schedule, and conditions for deposit retention or return
9. Seller's Warranties: Representations regarding property ownership, absence of impediments to sale, and condition of the property
10. Notarial Searches: Requirements for legal searches and their timing
11. Expenses and Taxes: Allocation of notarial fees, stamp duty, and other transaction costs
12. Default Provisions: Consequences and remedies in case either party defaults on their obligations
1. Bank Finance Clause: Used when the purchase is contingent on the buyer obtaining bank financing, including terms and deadlines
2. Planning Permits: Required when the property requires specific permits or has pending applications
3. Vacant Possession: Included when the property is currently occupied and terms for vacancy need to be specified
4. Condition Report: Used when a specific property condition needs to be documented or when works are to be completed
5. Ground Rent Redemption: Included when the property is subject to ground rent that will be redeemed
6. Third Party Rights: Required when there are existing tenants or other third-party rights affecting the property
7. Works Completion: Used for properties under construction or requiring specific works before completion
1. Property Plans: Architectural plans, site plans, and measurements of the property
2. Inventory: List of movable items included or excluded from the sale
3. Payment Schedule: Detailed breakdown of payment installments and timing
4. Planning Permits: Copies of relevant MEPA permits and applications
5. Property Photographs: Current photographs documenting the property's condition
6. Land Registry Documents: Official property registration documents and plans
7. Energy Performance Certificate: Required EPC documentation for the property
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