What you should pay attention to
Contact the real estate agent early
Due to the increased demand in houses and apartments in the big cities, more and more properties are sold before they even are available for the public. So if you are looking for an apartment or a house to buy, make sure to contact a real estate agent early so that you do not miss out on any great deals!
Investigate the property
Be aware of that you purchase a property in its current condition. Therefore, it is your responsibility to investigate it – as you cannot make complaints about damages after the purchase. Make sure to inspect the house or apartment thoroughly; floors, roofs, facades etc. and pay attention to water damage. It is recommended to hire someone to inspect the property for you.
A bidding war
Unlike other countries, there is not a fixed price on properties for sale in Sweden. Instead, you might have to engage in a bidding war. Prospective buyers bid a price they are willing to pay for the property until the other prospective buyers back out and a final price is agreed upon. There are no legal regulations on the bidding war which results in a final price that exceeds the initial price substantially. Make sure you are aware of this and that that you have met with your bank and agreed on how much you are willing to bid on the property.
The housing association
Except for the price of the property, there are other costs that will apply. When you buy a property in Sweden, normally an apartment, you become a member of the tenant-owner association which owns the building you will live in. They are responsible for the maintenance of the building, finances and other related issues. In exchange, you are required to pay a monthly fee to the association. This varies a lot between different types of apartments and can sometimes be a very large cost. So make sure you are aware of this and how much they are before deciding to buy. Remember that you can require the broker to look up all the financial costs related to the property.