Buying an investment or home overseas is a big step for any foreign national, especially when it is their first purchase and we know that a knowledgeable, honest and trusted source of accurate information is vital and reassuring to ensure a smooth purchase process.

With our tri-lingual enterprise (English, Estonian and Russian) we work hard to ensure that any information gained through Tallinn-Property.com has been extensively researched and verified.

The following is a guide of the steps necessary to complete an immovable property transaction. If at any point you require further information contact@tallinn-property.com


1. Choose property - Once you have decided on a selection of properties that you require more information on, we will endeavour to provide you with comprehensive, impartial facts on the potential of the investment, whether that information is for an economic long-term perspective or for the potential of buy-to-let, even through to the practicalities of buying an actual home to live in.

2. Make offer on property - Your offer is presented to the seller. If not accepted negotiations will commence to find a value that both parties wish to complete transaction with. Contact is constant during this process and every step is directly consulted with the buyer before the seller is approached.

3. Offer accepted - Once your offer is accepted it is advisable to consult 'The land registry departments of county courts and the Tallinn City Court'. The land register is a register of real rights in immovable property. Here you can obtain and verify ownership relations and other real rights to the registered immovable. There is a fee for this service and Tallinn-Property.com can complete this task on your behalf. This step is considered essential to safeguard and protect your time and money.

4. Obtaining a mortgage - It is recommended that an Estonian bank account is opened, which requires a passport as proof of identity and most banks have English speaking personnel, making the process straight forward. Foreign individuals can now obtain mortgages from Estonian banks, the amount being based on proven income over a certain period of time, proof can consist of bank statements from your UK bank. The current rates available start from a very favourable 3.0% for a variable mortgage, or 4.5% fixed rate for a minimum of 5 years. We have an independant financial advisor based in Tallinn, who can advise on the best current options regarding mortgages through Estonian banks dependant on your requirements.

5. Make an appointment with Notary - In Estonia a Notary completes (list of Estonian Notaries)the role of a solicitor to complete transactions on immovable properties, organizing negotiations and consulting the customers concerning the provisions of the contract, representing and consulting the customer during the negotiations and obtaining necessary documents and preparing to conclude real estate transactions and organizing the conclusion of notarized contracts.

Here is detailed information of the steps completed by the Notary, taken from Estonian Justice Department
'In order to enter a new entry in the land register a notarised transaction is entered into. Upon certifying the transaction the notary public shall consult the parties to the notarial deed, ascertain material circumstances and prepare draft contracts. The notary public shall represent the parties in the court that maintains the land register.

It is possible to agree that the purchase price or the loan amount shall be paid to the notary public’s escrow account and the notary public shall transfer the amount after the notary public has submitted the registration application to the court. Upon amending or deleting a land register entry the role of the notary public is less significant being normally confined to notarial authentication of signature. The notary public shall also inform the parties of how and how much state fee is charged for registration.

Registration documents submitted to the court which maintains the land register shall be originals or notarised transcripts (whereas the court reserves the right to request submission of an original). Documents in foreign languages shall be submitted along with a translation into Estonian which is certified by a sworn translator or a notary public. Public documents issued in foreign countries shall be legalised or certified by an Apostil.'

6. Funds cleared by completion date - Before the purchase agreement is released to the buyer, stamp duty must be paid to the local municipality. These rates are on a sliding scale between 0.3-0.5%. Once paid, the purchase agreement is released and the transaction is complete.

The whole transaction takes approximately 4-6 weeks.

Costs Incurred
Agency fee - 5% of sale price
Notary costs - 0.5% of sale price
Land Registry - 0.25% of sale price


contact@tallinn-property.com

Disclaimer: While all attempts to provide accurate, concise and reliable information have been made, Tallinn-Property.com and all personnel involved with Tallinn-Property.com are in no way liable for, or legally bound by any information, data or statistics provided on Tallinn-Property.com. It is highly recommended that any information, data or statistics obtained from or read on Tallinn-Property.com is verified by a legally registered official body before any intellectual or contractual agreement or monetary exchange is pursued.