When purchasing real property, a tenant-owned apartment or a leasehold property, neither the buyer nor the seller is legally bound until a written purchase contract has been signed by both parties. Until then, both buyer and seller may change their minds without the other party being able to make any claims.

The estate agent’s role
The estate agent is an impartial intermediary who must safeguard the interests of both seller and buyer. The estate agent can provide advice and guidance, but it is always the seller who makes the decisions regarding the sale.

How does bidding work?
There are no statutory rules governing how bidding must be conducted. Open bidding is most common, where bids are continuously reported to the seller and other prospective buyers. In some cases, closed bidding is used, where all bids are submitted within a specified period without the prospective buyers being informed of each other’s bids.

The seller decides
It is always the seller who decides whether bidding will take place, to whom the property will be sold and at what price. The seller does not have to accept the highest bid and may stop the sale at any time before the purchase contract has been signed.

Bids are not binding
A bid, whether made orally or in writing, is not legally binding. Bidders may therefore raise, lower or withdraw their bids until the contract has been signed.

The estate agent must forward all bids
Until the purchase contract has been signed, the estate agent is obliged to forward all bids to the seller. After the transaction has been completed, a bidding list is prepared and provided to the buyer and seller.

If you have questions about bidding or the purchasing process, you are always welcome to contact the responsible estate agent.

Buyer’s and seller’s responsibilities

A property is sold in the condition it is in on the date the contract is signed. The buyer therefore has an extensive duty to inspect and is responsible for carefully examining the property before the purchase. Defects or deficiencies that the buyer should have discovered during such an inspection can normally not be invoked against the seller afterwards. It is therefore common and recommended for the buyer to engage a professional building inspector.

If the property shows signs of defects or deficiencies, the buyer’s duty to inspect becomes more extensive. The buyer should also be aware that older houses often have natural wear and tear and that certain parts may need renovation or replacement.

The seller is responsible for so-called hidden defects, meaning defects that existed at the time of purchase but could not be discovered during a careful inspection and which the buyer also had no reason to expect in view of the property’s age, condition and price. The seller’s liability for hidden defects applies for up to ten years after completion.

The seller should provide correct information about the property and disclose known defects or deficiencies. Open dialogue between buyer and seller creates security for both parties and reduces the risk of misunderstandings or future disputes.

If you have questions about the duty to inspect, hidden defects or inspections, you are welcome to contact the responsible estate agent.

A well-prepared home often creates a better first impression and can contribute to greater interest among prospective buyers. Here are some tips before the viewing.

Let the estate agent handle the viewing
During the viewing, it is the estate agent’s task to take care of visitors, answer questions and present the property in the best possible way. If possible, we recommend that you are not at home during the viewing. If you are present, please keep a low profile.

First impressions are important
Make sure that the entrance, garden and driveway are well maintained. Mow the lawn, weed flowerbeds or clear snow and grit surfaces in winter. Feel free to turn on outdoor lighting when it is dark to create a welcoming atmosphere.

Clean, bright and inviting
A well-cleaned home is often perceived as better maintained. Turn on the lights, air the property for a while before the viewing and create a bright and welcoming atmosphere.

Create calm and harmony
Turn off the TV, radio and other distracting sources of sound. A calm environment makes it easier for prospective buyers to focus on the property.

Pets
If possible, pets should not be at home during the viewing. Also remember to minimise any pet odours.

Fix minor defects
Small details such as dripping taps, loose handles or broken light bulbs can affect the overall impression. Simple measures can make a big difference.

Order creates a sense of space
Tidy wardrobes, storage areas, basements and attics to create an airy and well-organised impression.

Kitchen and bathroom
These rooms are often examined particularly carefully. Make sure they feel clean, fresh and well cared for.

Bedrooms
Make the beds, air the rooms and keep wardrobe doors closed. A well-organised bedroom feels both more spacious and more inviting.

Unannounced prospective buyers
If someone wants to view the property outside a scheduled viewing, you are welcome to show it if you have the opportunity, but please refer questions about price, terms and completion to the responsible estate agent.