Buying a home step by step: from loan promise to ownership (2026)

The right order is your most important safeguard: loan promise first, then offer, condition inspection, deed and payment, transfer tax and finally registration of ownership. This order is not a formality. An accepted offer is binding, so everything to do with money and condition needs to be clear before you write the offer. Below we go through each step in the order in which they are best done, and tell you where the money changes hands and when the agreement becomes irreversible.

1. Loan promise: know your budget before you look at homes

A loan promise is the bank’s preliminary decision on how much you can borrow. It tells you the maximum price, and with it you can act quickly in a bidding contest. The promise is usually valid for a few months, and it does not tie you to any bank. Apply for a promise from more than one bank, so you see the differences in margin.

Important: always look at the debt-free price, not just the sale price. The debt-free price includes the share of the company loan attached to the apartment, and that is the sum the home actually costs.

2. Offer: from here on it binds

The offer is the point where many people make the most expensive mistake. Once the seller accepts your offer, the agreement binds both parties. You can no longer back out because you changed your mind without consequences.

That is why these need to be in order before the offer:

• Loan promise valid
• The housing company background read (manager’s certificate (isännöitsijäntodistus), maintenance-needs assessment (kunnossapitotarveselvitys), financial statement)
• Information on upcoming renovations and the share of the company loan
• The offer’s conditions written down, for example a condition for a condition inspection

If you want to do the condition inspection only after acceptance, write it into the offer as a condition. Then you can withdraw if the inspection reveals a material defect. Without the condition you tie yourself to the deal before you know what you are buying.

Earnest-money deposit and standard compensation

The earnest-money deposit is an advance paid with the offer. If you back out of a binding offer without a valid reason, you lose it. The law caps the maximum amount:

Item	Rule
Earnest-money deposit or standard compensation	At most 4% of the purchase price
Binding force	The offer binds once the seller has accepted it
Digital offer (DIAS)	Just as binding as a paper one
Offer condition	Write the condition inspection and financing in as conditions

A digital offer in the DIAS service binds in exactly the same way as a paper one. Do not click accept until you are ready.

3. Condition inspection: what you are really buying

A condition inspection is done before a binding deal or as a condition of the offer. The inspector goes through the home and records the observations. In a detached house the inspection is almost mandatory; in a housing-company apartment the focus is on the condition of the housing company and the upcoming renovations.

The inspection report does not remove your duty to investigate. Read it carefully and ask about anything unclear. If the report mentions a risk structure or an upcoming pipe renovation, price it in. Unknown does not mean bad, and an unresolved risk is always worth opening up before you commit.

4. Deed and payment: ownership transfers

When the conditions are met, the purchase deed is signed and the purchase price is paid. At this stage the financing materialises: the bank pays the loan portion, you pay your own funds.

In a real-property deal (a detached house, a plot) the deal requires a public purchase witness. Without one, a real-property deal is not valid. A housing-company apartment deal does not need a public purchase witness, and the deal can also be made digitally.

5. Transfer tax: pay on time

The transfer tax is paid to the Tax Administration after the deal. It is calculated from the debt-free price, that is, also from the share of the company loan. The first-home buyer exemption was removed from 1 January 2024, so a first-home buyer pays the transfer tax the same way as everyone else.

The timing of the tax payment is tied to registration. With real property the delay can become costly, as the next step shows.

6. Registration of ownership: the last and mandatory step

The deal is not complete before registration. The method depends on the type of home.

Type of home	Registration	Deadline	Consequence of delay
Housing-company apartment	Residential and Commercial Property Information System (ASREK)	2 months from the deal	Paper share certificate is invalidated
Real property	Registration of title (lainhuuto)	6 months from the deal	Transfer tax +20% / half-year, up to 2x

For a housing-company apartment, ownership is registered in the Residential and Commercial Property Information System within two months, and the old paper share certificate is invalidated. For real property you apply for registration of title within six months. If you are late, the transfer tax rises by 20% for each started half-year, up to double. This is one of the most expensive needless mistakes, and you avoid it by marking the deadline in your calendar right after the deal is made.

The whole path at a glance

Step	Binding	What you check
1. Loan promise	No	Maximum budget, margin
2. Offer	Yes, after acceptance	Conditions, debt-free price, housing company finances
3. Condition inspection	Depends on the conditions	Risk structures, upcoming renovations
4. Deed and payment	Yes	Public purchase witness (real property)
5. Transfer tax	Payment obligation	Debt-free price, payment to the Tax Administration
6. Registration	Mandatory	ASREK 2 months / registration of title 6 months

A simple rule: never make a binding offer before the financing, the housing company finances and the condition of the home are clear. After acceptance, backing out costs you, and failing to register real property grows the tax.

Once you have found a listing you are considering, paste the listing into Heimer. Heimer reads the housing company finances, the share of the company loan and the renovation needs for you, so you see before the offer what you are really buying.