Making an offer on a property
It is currently a fantastic time to buy a property. Here are some tips:
Make a bold offer!
You can be bold in your offer for a property. If the seller doesn’t accept your offer, they may make a counter-offer.
Making an offer is easy, convenient, and can be done entirely online. Contact the estate agent for the property to learn more about the property and make an offer!
Top tip: The seller may make you an offer
You can ask whether the seller would like to make you a personal offer on a Myyntiturva property. The personal offer may be lower than the official sales price for the property.
Compare banks and save money on mortgage margins
Interest on a mortgage comprises a selected reference rate of interest and a margin, which are added together.
Reference rates of interest are the same for all customers.
Margins, however, are what the banks offer to you personally. It is possible to negotiate margins, and you can also compare different banks to find out which will provide a mortgage with the lowest margin
There is currently fierce competition between banks when it comes to loan margins. Comparing banks can be very worthwhile and save you a lot of money!
Extremely popular properties
Some of the properties that come up for sale are sold based on the first showing, so time is of the essence when making an offer. If you want to ensure that your offer stands out among competing offers, you can make an offer that is higher than the stated sales price for a property.
Ask for the House Manager’s Certificate in advance and read it carefully
A House Manager’s Certificate package usually includes:
- House Manager’s Certificate
- Maintenance requirements report
- Articles of association
- Income statement and balance sheet
- Energy performance certificate
If you buy a property that is rented out, remember:
If the property that you are planning to buy is rented out, the tenancy agreement between the previous owner of the property and the tenant is automatically binding on you as well. If you intend to buy the property for your own use, you should check the tenancy agreement between the current owner and the tenant well in advance. When planning a moving schedule, remember the statutory term of notice for tenancy agreements in the event that the landlord terminates the tenancy agreement.
If the landlord terminates the tenancy agreement, the term of notice is three calendar months for tenancies that have lasted less than a year, and six calendar months for tenancies that have lasted for more than a year. If the tenant terminates the tenancy agreement, the term of notice is one calendar month regardless of the duration of the tenancy agreement. It is however possible to specify in the tenancy agreement the date on which the term of notice can begin at the earliest.
Look out for redemption clauses
In some housing companies, the Articles of Association contain a redemption clause that gives the housing company or its shareholders a pre-emptive right to any shares that are sold. The redemption clause may mean that the housing company or its shareholders may have the right to redeem the property at the price agreed between the seller and the buyer within the redemption period prescribed in the Articles of Association. The redemption right is typically valid for two weeks or 30 days.
The redemption right is usually notified in the sales advertisement of the property under “Redemption clause”.
Sell your current property first
If you are required to sell your property in order to obtain a mortgage and purchase a new property, it is sensible to sell your current property first. Selling is quite often a prerequisite for obtaining a mortgage. If you need help from a professional to sell your property, we can take care of the whole procedure at a favourable fixed commission. Call +358 10 2327 400 or send an email to asiakaspalvelu@myyntiturva.fi.
