käsirahaa

Käsiraha is a Finnish term that translates to "earnest money" or "hand money." It is a sum of money paid by a buyer to a seller as a sign of serious intent to purchase a property. This practice is common in real estate transactions in Finland and serves as a commitment from the buyer to proceed with the purchase under the agreed-upon terms.

Typically, the amount of käsiraha is a small percentage of the total sale price, often ranging from 1% to 5%. The exact amount is a matter of negotiation between the buyer and the seller. Once the käsiraha is paid, it is usually held by a neutral third party, such as a real estate agent or a lawyer, until the transaction is finalized.

The purpose of käsiraha is to protect both parties. For the seller, it provides some compensation if the buyer backs out of the deal without a valid reason. For the buyer, it signifies their commitment and can sometimes secure the property exclusively for them for a specified period while other arrangements, like financing, are finalized.

If the sale proceeds to completion, the käsiraha is usually deducted from the total purchase price. However, if the buyer withdraws from the purchase without a legally recognized reason, they typically forfeit the käsiraha to the seller. Conversely, if the seller withdraws or fails to complete the sale, they may be obligated to return double the amount of the käsiraha to the buyer, as stipulated in Finnish law. The specific conditions and regulations surrounding käsiraha are important for both buyers and sellers to understand before entering into a real estate agreement.