What is the process of buying an apartment in Finland?

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Buying an apartment in Finland can be a complicated process, especially for those who are not familiar with the local real estate market. The process involves finding the right apartment, making an offer, signing a contract, and completing the paperwork for the purchase.

In this article, we will discuss the steps involved in buying an apartment in Finland. We will cover topics such as the documents and fees necessary for the purchase, the steps to take when making an offer, and the taxes involved in the purchase. We will also provide some tips for finding the right apartment for your needs.

One very important aspect especially if you are not Finnish or Swedish speaker is to use a real estate agent that speaks fluent English. Of course many Finnish real estate agents do speak English but often not enough to explain the complex workings of the Finnish legal system.

Buying an apartment in Finland - Living room

The Step-by-Step Process for Buying an Apartment in Finland

Buying an apartment in Finland can be a great investment and one of the best decisions you will ever make. With a few steps, you can become the proud owner of a Finnish property.

Here is a step-by-step guide to help you purchase an apartment in Finland:

1. Research and Choose Your Property: The first step is to research the area you are interested in and choose your perfect property. Consider the size and location of the property, as well as its price. A good real estate agent will be able to advise and guide you to the type of area and property that works for you.
2. Find a Real Estate Agent: Once you have chosen your property, it is time to find a real estate agent. They will be able to provide you with information about the property, as well as help you with the paperwork and legal aspects of buying an apartment in Finland.
3. Get Financing: You will need to arrange finances for your purchase. It is best to get a loan from a bank or other financial institution. Make sure to shop around for the best rates and terms. In Finland some agent will be connected to a bank and will be able to arrange a meeting with a bank.
4. Make an Offer: Once you have the finances, it is time to make an offer on the property. Make sure to include any extras such as furniture, appliances, or other items that you may need.
5. Sign the Contract: Once your offer has been accepted, it is time to sign the contract. Make sure to read it carefully as it will outline the terms of your purchase. This is where an English speaking agent will be vital. Finnish property law is difficult enough if you speak and understand Finnish, but almost impossible if you do not. So be sure your real estate agent really does speak English.
6. Close the Deal: Once the contract is signed, you will be able to close the deal. This is when you will need to pay the full amount for the property. Note: Pulling out of a deal after signing a paper or digital contract for whatever reason will get you into hot work. You could end up pay penalty from anything between 5000-50000€ depending on the original price of the property. 
7. Move In: After closing the deal, you can move into your new apartment

Final words about buying an apartment in Finland

Overall, the process of buying an apartment in Finland is relatively straightforward if you have the right professional. The process of buying an apartment in Finland involves researching and finding an apartment that fits your needs, obtaining a mortgage and negotiating a price. Then the fun starts when you need to complete the required paperwork.

Buying an apartment in Finland - Bedroom

It is important to note that you may need to hire a real estate agent to help you with the process.

Remember, in addition to the cost of buying your dream home there are other outgoings such as transfer taxes, registration fees, and commission fees.

This is just a brief overview on the easiest way of buying an apartment in Finland. However, this is not really the easiest way, because the easiest way is to use a qualified Finnish real estate agent that speaks a professional level of English. 

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