Selling you Property
Selling your property is one of the biggest decisions you will ever make in your life. It creates many uncertainties such as whether this is the right moment to sell, what price to sell at, which agent to use and if it is in the ideal condition to sell. At Jerome Estate Agency we have been in the business for three generations in the real estate industry in Malta. It runs through our blood. Each individual that represents the brand has the best qualities needed when offering such essential advice. Our team aims to build long term value relationships with our customers by offering honest expertise. All our personnel are highly qualified and accredited at the Jerome Academy for Estate Agents.
Easy steps to selling
a. Contact Jerome Estate Agency
b. The best estate agent for your property whether it is in Malta or Gozo from the south to the north with 10 offices and 110 team members we got you covered.
c. We will come within 2 hours / our motto is Number one for speed and selection with a smile
By law you need an Eneregy performance certficate prior to marketing and selling your property known as EPC. Normally new builds already posess these however the older properties need them. We can offer recommendations on which company to use to carry it out.
d. We view it, take the details and professional photos or videos and upload them on our website instantly
e. We offer honest advice such as tips on how to improve your property to realise its full potential. Whether to sell now or wait longer depending on the economic conditions in the country or that location presently
f. We can even recommend to rent it out in short term till the economic conditions improve or that location increases in value thereby cashing in and maximising your profits
In th event that you need a quick sale perhaps you have another investment opportunity you dont want to miss we can offer at lower ask then market price to get it sold or on an exclusive basis at 3.5 per cent for a larger marketing effort
g. The agent assigned to you will be your point of contact. They will market your property for you, bring qualified customers so as to not wast your time and offer regular feedback
h. If you are busy you can also give the key to the agent you are dealing with.
We call you to make offers on your buyers behalf, negotiate and close deals by agreeing on the selling price and any there conditions we agree upon.
Jerome Estate Agency picks up one per cent deposit from the purchaser and a date is set with the purchasers notary to sign the promise of sale known as a konvenju,
At that point it is the notary s job to take over and the contract is signed.
Generally the minimum period in between the promise of ale and final contract it takes 6 weeks to activate. The notary must conduct a search of the property s history, any research on the individual or company selling, etc..
Registered at the lands authority
The purchaser selects there notary of choice which they have to pay, stamp duty and taxes whilst the vendor has to pay the tax on sale depending under which category you fall
Taxes and fees
Capital Gains Tax / Final Withholding Tax
As of January 2015 a ‘Final Withholding Tax‘ of 8% of the sale price (not the profit). Payment is made to the Notary during the final contract of sale.
Zero tax is payble on selling your primary residence in Malta or Gozo after 3 years of living in it
Selling inherited property in Malta is subject to capital gains tax at the rate of 12%.
Taxes in certain areas such as Gozo and the south vary also. We have a very favourable tax system in Malta and Gozo.
For further details kindly speak to your estate agent who can recommend a meeting with one of the company notaries.
For properties registered on an exclusive basis at Jerome Estate Agency a fee of 3.5 per cent plus 18 per cent vat is due. For an open agency agreements a fee of 5 per cent plus 18 per cent vat is payable upon the final contract of sale.