What to do in the first week after signing a Konvenju

Signing the Promise of Sale — the Konvenju — is the moment a Maltese property purchase becomes real. It's also the moment a clock starts ticking: from the day you sign, you typically have six to eight months to reach the final deed, and a sequence of legal and financial steps begins behind the scenes.

The first week is where good buyers set themselves up well. Nothing here is urgent in a panic sense — but a few things are worth confirming and acting on early. This guide is the first chapter of our step-by-step Buyer's Guide, with the legal framing from notary Dr. Michael Laferla.

1. Confirm where your deposit is — and that it's protected

When you signed, you almost certainly paid a deposit — customarily 10% of the purchase price. Your first job is simply to know where that money now sits.

In the standard arrangement, the notary holds your deposit in their client account — a regulated, separate account — and releases it to the seller only at the final deed. This protects you: during the months ahead, your money sits with an impartial public officer rather than in the seller's hands. There's one common exception, particularly with developers, where the deposit is paid directly to the seller in exchange for a reduced price — if that's your situation, make sure you understood the trade-off when you signed.

Action: confirm in writing with your notary how and where your deposit is held.

2. Re-read your Konvenju — know the conditions you're relying on

A Konvenju isn't a blank commitment. A well-drafted one contains protective conditions — and now is the time to be crystal-clear on which ones you're relying on, because they're what let you withdraw safely if something goes wrong.

The clauses Dr. Laferla highlights are the ones to check for:

• Subject to an architect's report — confirming the property has all necessary permits and is structurally sound.
• No debts on the property — no hypothecs or charges that would follow the property to you.
• No court cases affecting the property.
• Subject to your home loan — the "subject to sanction of loan" clause, so a refused home loan doesn't trap you.

Each operates as a condition: if it isn't met, you can withdraw without losing your deposit.

Action: read your signed Konvenju in full. If anything is unclear, ask your notary to walk you through each condition.

3. Make sure your notary has everything to start due diligence

The notary's protective work — the title searches and checks that justify engaging one — begins now, and it depends on having the right documents in hand.

The two essentials are proof of identity (ID cards or passports) for the parties and the seller's deed of acquisition — the contract by which the seller originally bought the property, and the starting point of the title chain. Depending on the property, the notary may also need planning permits, details of any ground rent or hypothec, and condominium information.

Action: ask your notary whether they have everything they need to begin searches, or whether anything is still outstanding.

4. Mind the 21-day registration deadline

Within 21 days of signing, your Konvenju must be registered with the Commissioner for Inland Revenue, together with payment of the 1% provisional stamp duty (one-fifth of the eventual 5% total). In practice your notary handles this — but it's a hard statutory deadline, so it's worth confirming it's in hand.

Action: confirm with your notary that registration and the provisional stamp duty are being taken care of within the 21-day window.

5. Start your home loan application now

If you're financing, the six-to-eight-month term assumes you move promptly — and the bank's process is the single biggest reason that timeline runs to the longer end. The sooner you submit your application, the more comfortably everything fits before the Konvenju expires. Your "subject to sanction of loan" clause protects you if the home loan is ultimately refused, but it doesn't pause the clock. You can plan your borrowing with the Home Loan Calculator.

Action: submit or progress your home loan application this week. Have your sanction letter as the goal.

6. Mark the dates that matter

The Konvenju runs for the period you agreed — typically six to eight months. Put the expiry date in your calendar now, because the deadlines around it have real consequences.

If you need more time, the Konvenju can be extended — but only by mutual agreement, formalised in writing. Don't leave it to the last day.

If a Konvenju simply expires without the final deed and without being extended, it becomes null and void at law — and, as a rule, your deposit is returned (the seller can only retain it by following a strict court procedure under Article 1357 of the Civil Code).

Walking away without a valid reason at law is the one scenario where you risk forfeiting your deposit — so if doubts arise, talk to your notary about whether a recognised condition applies before doing anything.

Action: diarise the expiry date and a check-in a month before it.

Your first-week checklist

• Confirm where your deposit is held (and that it's protected)
• Re-read the Konvenju and understand every condition
• Check your notary has all documents to begin due diligence
• Confirm the 21-day registration + provisional stamp duty is in hand
• Submit or progress your home loan application
• Diarise the expiry date and a one-month-before check-in

How Yitaku helps

The legal process has a rhythm; the tools make it manageable. Yitaku's Home Loan Calculator helps you plan borrowing, you can request life and buildings insurance quotes in-app, and the Knowledge Hub carries expert answers on every step of the Konvenju and beyond. Download the Yitaku app.

Frequently asked questions

How long do I have after signing the Konvenju?

Typically six to eight months to reach the final deed, extendable by mutual agreement. The exact period is whatever you and the seller wrote into the Konvenju.

Can I get my deposit back if the deal falls through?

It depends on why. If a protective condition fails (for example, your home loan is refused under a subject-to-loan clause), the deposit is recoverable. If you simply walk away without a valid reason at law, you risk forfeiting it.

What if I need more time?

A Konvenju can be extended by mutual agreement, in writing, registered with the tax authorities within 21 days of signing the extension. It can't be extended one-sidedly.

What happens if the Konvenju expires?

It becomes null and void at law, and as a rule your deposit is returned — unless the seller has followed the strict Civil Code procedure to retain it on the basis that you had no valid reason to refuse.