Home purchase transaction
Buying a home is one of the biggest purchases of your life. When making the purchase decision you should take many different points into account.
- Confirm your bid with a down payment. If you cancel the deal, you will, as a rule, lose the down payment. If the seller cancels, he or she will have to pay compensation. The down payment is 4% of the purchase price at the most.
- Read the written offer carefully because you cannot withdraw from the bid without losing the down payment.
The deed of sale states
- details of the seller and buyer (names, addresses and phone numbers)
- name and address of the housing corporation
- numbers and amount of the shares, flat number
- details of the flat (building, door, flat number, number of rooms and square area)
- price and payment terms
- delivery date of share certificates
- transfer dates of ownership and right of possession, and the date from which the buyer is liable for the maintenance charge
- statement about payment of asset transfer tax
Asset transfer tax
- The trade of housing company shares (block or row of flats) or a piece of real estate (one-family house) is subject to asset transfer tax.
- The asset transfer tax is paid by the buyer.
- If you are a first-time home buyer between 18 and 39 years of age, you are exempt from the tax on certain conditions. Read more at www.vero.fiOpens new window.
With the right interest hedging products, you can protect your finances even when market interest rates change drastically.
FlexiPayment gives you leeway for your monthly loan repayment. Another alternative is to extend your instalment-free period. See which one suits you better.