Selling an Apartment or House in Finland

• General Information for Sellers
• Selling an Apartment
• Selling a House
• Real Estate Agents page
• Related Links

Primary source of information for this page: Finnish Consumer Agency - KKV
This is a brief guide only, and does not constitute legal advice

General Information for Sellers

Selling a house or apartment on your own is possible if you are familiar with the steps and responsibilities involved. If you are unsure, it is probably best to engage the services of a real estate agent.

Finnish law sets a broad disclosure obligation on the seller. Of primary importance is the seller's liability for provision of information that may affect the buyer's decision to purchase. The information provided becomes extremely important if a dispute arises after completion of the transaction. For example, in the case that a buyer notifies a seller of a defect and seeks compensation, the information provided during the sale can determine financial responsibility.

The seller's liability for providing information to the buyer is not affected by hiring a real estate agent or commissioning a formal condition inspection. The real estate agent and the condition inspector are only liable for performing their work in a professional manner.

Selling an Apartment

Shares in Housing Companies

In Finland when you sell an apartment, it is usually part of a housing company (asunto-osakeyhtiö), so you are not only selling the apartment but your shares in the housing company. Therefore, in preparation for provision to prospective buyers, you must acquire up-to-date information regarding the financial position of the housing company.

Documentation from Housing Company

Acquire copies of:

• House manager's certificate with details of current repair needs. Ensure the information is up to date and accurate; the seller is liable for incorrect information on the house manager's certificate!
• Articles of Association of the housing company
• Minutes of the most recent general meeting of shareholders and any financial documents reviewed in the meeting such as financial statements, the balance sheet and the financial plan

The seller must be familiar with the matters discussed at shareholders meetings, even if they did not attend the meetings. Disputes are often over whether the buyer was informed, or informed clearly enough, about upcoming work such as plumbing or roofing renovations.

Additional Information
Sellers should protect themselves by remembering to disclose information which may affect the buyer's decision:

• Defects or deficiencies regarding the apartment
• Information pertaining to the apartment, services in the residential area and its surrounding environment
• Zoning status of the residential area

If a matter has not been discussed in housing company meetings, or has only been brought up on a general level, the buyer does not need to be informed. It is assumed that a buyer would understand, for example, that plumbing renovation work may be required in a building several decades old.

The Importance of Information
A used apartment can be considered as having a defect, possibly rendering the seller liable for compensation, if:

• It does not correspond to what was agreed
• It does not correspond with information provided by the seller, where such information can be considered to have influenced the transaction
• The seller neglected to provide information which is likely to have influenced the transaction or sale price
• It is significantly inferior in terms of amenities, condition or other properties to what the buyer had reasonable grounds to expect
• Information on the surroundings of the apartment or services in the area was incorrect, misleading, or not provided

In assessing defects in used apartments, key considerations are the contents of the agreement, the information provided by the seller and the buyer's liability to inspect the property. The seller of a used apartment usually remains liable for defects for a period of two years, but this may be extended in certain cases.

Further Information on Sale of Apartments
The Finnish Consumer Agency (Kuluttajavirasto) provides information in English, Swedish, Sami and Finnish on:

• Advertising and showing
• Bids
• Deeds of Sale
• Defects
• Reporting & consequences of defects
• Finnish Consumer Authority: Info on selling apartments

Selling a House

It is important to provide accurate information about the type and condition of the house, age and defects of the building, and what types of repairs and maintenance have been done. Further, Finnish law sets a broad disclosure obligation on the seller regarding the plot of land and the area in which the property is located.

Information and Documentation
If you are selling your single-family house on your own, find out the following information and acquire the relevant documents:

• The type of house in question, ex. single-family house or a holiday home
• Are you selling real estate, a share or parcel of real estate or a building on rented land
• Zoning status of the area, building prohibitions and the contact information for zoning authorities
• If the house is fairly new, its building permits, blueprints and building inspection documents
• Municipality and district or village in which the property is located, its property identifier and street address
• Area of the plot of land
• Building rights
• Buildings and other structures such as playhouses or gazebos belonging to the property
• Restrictions on the use or assignment of the plot of land
• In case of rented land, the lessor, the lease agreement, the remaining time on the lease, the amount of rent and any restrictions on assignment of the right of lease
• Lien, fees payable by the buyer and other encumbrances and easements
• Year the building was commissioned for use
• Construction material(s), roofing type, surfacing material used for the roof and the heating system
• Number of rooms and area, classified into living space and other space
• Average heating costs
• Map of the boundaries of the plot of land
• Floor plan of the building

Further Information: Seller's Responsibilities & Requirements for Sale
The Finnish Consumer Agency (Kuluttajavirasto) provides information in English, Swedish, Sami and Finnish on:

• Condition of the house
• Bid
• Deed of Sale
• Defects
• Claims and compensation
• Finnish Consumer Authority: Info on selling houses

Related Links
Links to other sites are direct to the relevant page, where possible

• Finnish Consumer Authority: The Housing section has information on selling all types of housing
• Suomi.fi: Information and e-services from Finnish government agencies and authorities, for residents, companies and organizations
• Real Estate Agents: Finnish real estate agents, Conveyancing, Costs and commissions

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