Kiinteistökauppa

Kiinteistökauppa refers to the legal transaction of buying and selling real estate in Finland. This process involves the transfer of ownership of land, including any buildings or structures permanently attached to it. The key legal document governing kiinteistökauppa is the Land Code (Maakaari).

A binding real estate transaction requires a written purchase agreement signed by both the buyer and seller. This agreement must contain specific essential terms, such as the identification of the property, the purchase price, and the payment terms. The buyer typically pays a deposit, often referred to as 'käsiraha', upon signing the agreement.

The transfer of ownership is formally completed through a registration process at the Finnish Land Survey. The buyer must apply for registration of ownership within six months of signing the purchase agreement. Before the final transfer, the buyer is often entitled to inspect the property.

A crucial aspect of kiinteistökauppa is the seller's obligation to disclose any known defects or encumbrances affecting the property. If significant undisclosed defects are discovered after the purchase, the buyer may have grounds for legal recourse, such as claiming a reduction in the purchase price or, in severe cases, rescinding the contract. Due diligence, including property surveys and title searches, is highly recommended for buyers to understand the condition and legal status of the property before entering into an agreement. Real estate agents often facilitate these transactions, guiding both parties through the legal and practical steps involved in kiinteistökauppa.