Promise of Sale Agreement (Konvenju)

Promise of Sale Agreement (Konvenju)

A Promise of Sale Agreement is a legally binding contract between a buyer and seller, outlining the terms and conditions of a property sale. This agreement sets the framework for the transaction, detailing the price, payment schedule, and any conditions that must be met before the final sale. Our role is to ensure that this agreement is meticulously drafted, reflecting all the agreed terms and safeguarding the interests of both parties.

Our notarial services in drafting a Konvenju include a thorough examination of the property’s legal title, ensuring there are no legal impediments to the sale. We conduct detailed searches to verify the property’s history, any outstanding debts, and ensure compliance with planning and building regulations. This due diligence is vital in providing peace of mind to both the buyer and the seller.

We also advise on the implications of the agreement’s conditions, such as any necessary permits, timeframes for fulfilling certain obligations, and the implications of failing to meet these conditions. Our expertise ensures that all parties are fully aware of their rights and responsibilities, reducing the potential for disputes and misunderstandings.

In Malta, the Konvenju is also accompanied by a deposit, usually 10% of the purchase price, which is held by the Notary as a guarantee. We handle this financial aspect with utmost integrity, ensuring that funds are securely managed throughout the transaction process.

Our commitment is to provide clear, comprehensive advice and support throughout the entire process of the Promise of Sale Agreement.

At Sceberras Trigona Notaries & Associates, we understand that property transactions can be complex and stressful. From initial consultation to the signing of the Konvenju, we ensure that every aspect is handled with professionalism, diligence and a deep understanding of Maltese property law, making your property transaction as seamless and secure as possible.