GUIDE TO BUYING
GUIDE TO SELLING
GUIDE FOR AGENTS
INTRODUCTION TO THE BIDDING EVENTS
A Suggested Opening Bid is our recommended starting point for bids to be placed on a property. It is generally understood that the sale price of a property can and will probably reach higher values than the suggested opening bid, in order to meet or exceed the Reserved Price.
The Open Market Price is the price of the property on the open market or as listed with high street agents. This price is often indicative of the savings one can make when bidding through our Bidding Events.
A Preferred Partner is a Real Estate Agent or Broker, who collaborates with Malta Property Auctioneers to list and sell Lots. Our affiliated partners can act as a listing or selling agent for a property, giving sellers and buyers the opportunity to use their own preferred agent. Our partners are trained in the services offered and help guide people through the process of our Bidding Events. Malta Property Auctioneers currently partners with 13 different agencies, who each add immense value to the exposure all properties receive.
All kinds of properties could be found, from luxury villas to apartments, converted and unconverted houses of character and even commercial and investment opportunities, located both in Malta and abroad. All properties are carefully selected to offer good value and fair opportunities and sellers are always well motivated as well as committed. With our events, you have peace of mind that if an offer supersedes the Reserved Price, vendors cannot back out at the last minute.
If your bid is the highest bid at the close of the event, you will be notified of the good news. You will then be required to sign a Promise of Sale within 48 hours of the close of the Event. The standard 10% deposit (less the holding deposit) will be held by the notary until the final deed of sale. It is important to remember that once you make a successful bid, you are then legally bound to purchase the property in full at the pre-determined date of the final deed of sale.
For the last 13 years, as the first and only company in Malta truly specializing in the sale of property by auction, Malta Property Auctioneers has been investing both in their people and in the best marketing and selling tools. Therefore, we decided to move our Bidding Events online and extend our network globally. For each party – whether you are a Seller or a Buyer, or a Real Estate Agent/Broker, we offer you a win-win solution.
As the Seller – your property will be exposed to a much higher number of local and international interested buyers and will stand out from others. Your property will also be listed on a multiple of local and international property portals. Thanks to our online platform with Bidding Events, your property will receive much more awareness and interest and will get you multiple offers at one time, before or during the event. You will be able to compare all those offers, and if any of them meets your acceptable price, the sales process will start immediately. Not only will you benefit from a multitude of agents all working on your property, but you will also have more favourable fees than you would when selling on the open market, with zero fees if your property doesn’t sell.
As the Buyer – you can purchase a property easily, time- and cost-effectively, and be sure that the price you pay is realistic and not artificially inflated. You will see a variety of local and international properties with full transparency, having access to all the information and documents as well as the corresponding event date. Once you find your dream property, just place your no-obligation pre-event offer or register with us to place your bid, making sure that you have your credit card ready with you. If the seller accepts your offer, the property is taken off the auction list and your competition has no further chance to bid against you. The selling process starts immediately.
As the Real Estate Agent / Broker – Whether it’s an older listing or a new in-demand property, list it with Malta Property Auctioneers, and you will have your guaranteed commission, up to 80% of the proceeds of a sale, paid sooner than you might expect. We will promote and expose your property globally, using our wide range of marketing techniques, and maximizing the visibility of the property, automatically increasing the number of interested and committed buyers who will be coming directly to you.
Individual countries may require non-citizens willing to buy local properties to obtain special permits before completing a purchase. Naturally different countries have different regulations, but once you become a successful bidder, and sign the Promise of Sale, we, together with our overseas partners, will support you in obtaining any permits or documentation required.