Wholesale Real Estate Contract for Malta

Wholesale Real Estate Contract Template for Malta

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Wholesale Real Estate Contract

"I need a Wholesale Real Estate Contract for acquiring rights to a commercial warehouse property in Qormi, Malta, with the intention to assign these rights to a retail developer within 90 days, including specific provisions for property access during the marketing period."

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What is a Wholesale Real Estate Contract?

The Wholesale Real Estate Contract is a specialized agreement used in Malta's property market when an intermediary (wholesaler) seeks to acquire property rights with the intention of assigning or reselling them to another buyer for profit. This document is essential for real estate investors and intermediaries operating in Malta's property market, providing a legal framework for wholesale property transactions while ensuring compliance with Maltese property law, including the Civil Code and Real Estate Agents, Property Brokers and Property Consultants Act. The contract includes crucial elements such as property details, assignment rights, due diligence provisions, and specific requirements for property transfers under Maltese jurisdiction. It's particularly valuable in scenarios where investors identify undervalued properties and seek to contract these properties to then assign their rights to end buyers, typically for a fee or profit margin.

What sections should be included in a Wholesale Real Estate Contract?

1. Parties: Identification of all parties involved, including the original seller, wholesaler, and end buyer if applicable

2. Background: Context of the transaction, including property details and purpose of the wholesale arrangement

3. Definitions: Key terms used throughout the agreement, including specific Maltese legal terminology

4. Property Details: Comprehensive description of the property, including legal designation as per Land Registry

5. Purchase Price and Payment Terms: Details of the purchase price, deposit requirements, and payment schedule

6. Assignment Rights: Terms governing the wholesaler's right to assign the contract to end buyers

7. Due Diligence Period: Timeframe and conditions for property inspection and document verification

8. Closing Terms: Requirements and procedures for completing the transaction

9. Representations and Warranties: Statements of fact and guarantees from all parties

10. Default and Remedies: Consequences of breach and available remedies

11. Notices: Process for formal communications between parties

12. Governing Law and Jurisdiction: Confirmation of Maltese law application and jurisdiction

What sections are optional to include in a Wholesale Real Estate Contract?

1. Tenant Rights and Obligations: Required if the property is currently leased or has existing tenants

2. Development Rights: Necessary if the property has pending or potential development permits

3. Environmental Conditions: Required for properties with potential environmental concerns or requirements

4. Special Conditions: For unique property features or transaction requirements

5. Multiple Transaction Structure: Required when dealing with multiple properties or staged transactions

6. Property Management: Needed if interim management arrangements are required

7. Financing Contingencies: Required if the transaction depends on specific financing arrangements

What schedules should be included in a Wholesale Real Estate Contract?

1. Property Description Schedule: Detailed technical description of the property including boundaries and measurements

2. Title Documents: List of all relevant title documents and encumbrances

3. Due Diligence Checklist: Required documentation and verification items

4. Payment Schedule: Detailed breakdown of payment terms and timelines

5. Property Condition Report: Current state of the property and any identified issues

6. Planning Permits and Restrictions: Copies of relevant permits and zoning information

7. Service Agreements: List of existing service contracts affecting the property

8. Energy Performance Certificate: Required energy certification documentation as per Maltese law

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Property Development

Commercial Property

Real Estate Investment

Property Management

Construction

Legal Services

Financial Services

Property Consulting

Relevant Teams

Legal

Real Estate

Acquisitions

Investment

Compliance

Due Diligence

Property Management

Commercial Development

Risk Management

Contract Administration

Relevant Roles

Real Estate Investor

Property Developer

Real Estate Broker

Legal Counsel

Property Acquisition Manager

Real Estate Investment Manager

Commercial Property Manager

Real Estate Agent

Investment Analyst

Due Diligence Officer

Compliance Manager

Contract Manager

Property Portfolio Manager

Real Estate Investment Director

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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