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In the case of a real estate transaction or donation of real estate, the use of a commercial conveyancer is provided for by law and is compulsory.
The transaction mediator ensures that the real estate transaction is done correctly.
The transaction mediator will ensure that the real estate transaction is carried out in accordance with the law and in a fair way for the parties involved. The role of the transaction mediator includes:
- ensure the accuracy of the property documents (including the preliminary contract and the deed of sale)
- verify the identity of the parties to the transaction
- be present in person at the transaction and confirm the transaction with your signature
- make the necessary notifications of the transfer of the property to the Land Registry.
In various situations where property is being sold, you will need a sales representative. These include the donation or exchange of property (i.e. when the property being traded is exchanged for another property instead of money).
The current exception is where the real estate transaction is carried out on an electronic trading platform. In such a case, a transaction mediator is not required. In this case, the Land Surveyor's Office acts as the verifier of the transaction and the seller is responsible for ensuring the accuracy of the documents.
Who can act as a trade facilitator?
Public market inspectors may be certain officials in the civil service or the police (such as the chief of police or the deputy chief of police), among others. Persons licensed by the District Court or the Land Registry, such as estate agents or lawyers, may also act as transaction validators.
Disqualification of a commercial conveyancer
Being a commercial conveyancer also involves a requirement for the conveyancer to be accessible. For example, if a person licensed as a transaction confirmor sells or transfers a property to his/her spouse or other family members, he/she is disqualified from acting as a confirmor of the sale or transfer.
Amos Law Firm Amos Oy's transaction confirmers
Amos Law Firm has three transaction protectors. This ensures that we are able to serve our clients and stakeholders in real estate transactions as comprehensively and flexibly as possible.
What does a trade confirmation cost?
The remuneration of a commercial conveyancer is regulated by Finnish law (Maakaari: Regulation on Commercial Conveyancers), and is currently. 138 euros. In addition, the trade mediator may charge you for expenses such as travel costs and documents.
The costs of the transaction confirmation are typically split equally between the seller and the buyer of the property.
You can call us on 010 299 5090 or send us an e-mail to [email protected] and order a trade confirmation for your shop.
Article written by Amos Attorneys at Law Ltd, Transaction Surveillance Samvel Margarjan, www.amoslaki.fi