Varaussopimus

Varaussopimus, often translated as a reservation agreement or a preliminary contract, is a legal document used in Finnish law to secure a commitment to enter into a future principal contract. It outlines the terms and conditions under which the parties agree to finalize a transaction at a later date. This type of agreement is common in real estate transactions, but can also be used for other significant purchases or services.

The primary purpose of a varaussopimus is to provide certainty for both the buyer and the seller. For the buyer, it ensures that the property or item will not be sold to someone else during the agreed reservation period. For the seller, it guarantees that the buyer is serious about the transaction. Typically, a varaussopimus includes details such as the subject of the future contract, the agreed-upon price, the deadline for concluding the main agreement, and any conditions precedent that must be met.

A key component of many varaussopimukset is a reservation fee, known as a varausmaksu. This fee serves as a form of compensation to the seller for taking the item or property off the market and demonstrates the buyer's commitment. If the buyer withdraws from the agreement without a valid reason, the reservation fee is usually forfeited. Conversely, if the seller withdraws or fails to proceed with the main contract, they may be obligated to return the reservation fee, often with additional compensation.

The legal enforceability of a varaussopimus depends on its clarity and the fulfillment of legal requirements. It is distinct from a binding purchase agreement, as it signifies an intention to contract rather than a concluded contract itself. Therefore, it is advisable for parties to seek legal counsel when drafting or signing a varaussopimus to ensure their rights and obligations are adequately protected.