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Sweden » The Purchase Process
The first thing that must be done is that purchasers before buying property in Sweden must find out about the citizens registration number. When buying property in Sweden it is a normal practice to hire the services of a real estate agent. Real estate agent can also take the role of a lawyer. The seller of Sweden property has to pay the agents fee which is normally around 3-5% of the sale price. Real estate agents in Sweden handle the sales process, negotiations and the necessary paper work.
After selecting the property you wish to purchase you have to agree on
a purchase price. Mostly people when purchasing Sweden real estate hire
an independent surveyor to get an estimation of the value of a
property. It is not a necessary requirement but to be on the safe side
and it is recommended. Both the parties then engage in a simple process
of questions and negotiations till a date for the completion is set
instead of exchanging contracts as is done in UK.
Once an offer is accepted a deposit of 20% is usually given to the
seller in order to hold the property. When the transaction is
completed, it is the buyer's responsibility to pay stamp duty and apply
for deeds of title within three months of the sale transfer and submit
them for registration. The stamp duty rate is around 1.5 percent of the
purchase price. This fee is payable by the purchaser.
Properties when available are snapped away quickly so one should keep an open eye. In fact the best thing is to ask personal contacts to keep an eye for any accommodation that would be available and to contact the landlord directly.
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Foreign nationals can buy property in Sweden, there are no restrictions. The process of purchasing property in Sweden is quite simple with no extra costs and facilitating fiscal and legal structures. There are the usual government fees and taxes, other expenses are optional. Because of the simplicity of the Swedish real estate purchase process a lawyer is not a necessary requirement but most buyers in Sweden use a lawyer and if you are a foreign investor then you must do so. A solicitor can to do the legal checks on the property, deal with the transfer of the title deeds and other legal formalities. Solicitor's fees are normally between 1% and 4% of the purchase price, and stamp duty is payable at around 1%.