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Property transactions can be completed on the beach or home sofa – electronic transactions increasing

Last year, the number of electronic property transactions increased by half from the previous year. This increase comes as no surprise, as transactions are quick, easy, responsible and affordable in the National Land Survey of Finland’s (NLS) Property Transaction Service: the parties involved can sign the deed of sale at different times and in different locations. This reduces the need for travel and any environmental pollution.

Mies työskentelee kannettavalla tietokoneella ja loikoilee rantahiekalla vaaleanturkoosin meren äärellä.

Electronic property transactions attract Finns living outside Finland, among others. A Finnish person living in Spain can sell a property they have inherited to a buyer living in Finland without the trouble and cost of travelling.

Furthermore, two farmers can agree on trading a piece of land in the evening and complete the transaction at a coffee table the next morning. The Property Transaction Service is also handy in situations where parents want to give a property in full or in part to their children.

No notary public is needed, and no transaction date needs to be set. In addition, a new property owner can apply for a mortgage immediately after completing the transaction.

‘In the service, people can also authorise other people to act on their behalf, such as preparing a deed of sale. The service can also easily be used on mobile devices,’ says senior specialist Pauliina Heikkilä.

Electronic transactions have been possible in the Property Transaction Service since 2013.

Owner information must be up to date

To complete electronic property transactions in the Property Transaction Service, the seller’s ownership must be registered in the register of land ownership and mortgage. The Property Transaction Service helps to prepare the deed of sale and complete all the information required.

If a transaction involves a real estate agent, they can prepare the deed of sale template in their service provider’s service. The parties to the transaction will then accept and sign the deed of sale prepared by the agent in the Property Transaction Service.

The high level of data protection in the Property Transaction Service and the automated checks carried out in different registers make the transfer of property ownership safe. The processing of the buyer’s title registration application starts automatically immediately after completing the transaction.

The Property Transaction Service can be used by anyone who is at least 18 years of age and has a Finnish personal identity code. Users can log in to the service through e-identification using their Finnish online banking codes, a mobile certificate or an electronic identity card.

‘Not only is the service a safe way to complete electronic property transactions, it’s also easy to use, as it guides the user every step of the way. However, the person who prepared the deed of sale is responsible for its content, and it may be necessary to turn to professionals in certain situations,’ says Heikkilä.

Additional information

Armi Hantula, information services specialist, +35850 340 6077, 

Pauliina Heikkilä, senior specialist, +358 40 538 3516, 

Press release
Real estate purchases
Real property

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