Glossary
The terms you meet from the agent and in the listing, explained short and straight.
A
- Akseptfrist (bid acceptance deadline) The akseptfrist is the moment your bid is binding until; in Norway a broker may not convey a bid expiring before 12:00 the first business day after the last advertised viewing.
- Avhendingslova (Norway's Sale of Property Act) The Norwegian Sale of Property Act protects you as a consumer buyer: blanket "as is" clauses have no effect, and you can complain about defects for up to 5 years.
B
- Belåningsgrad (loan-to-value, LTV) Belåningsgrad is your loan divided by the home's value; in Norway an ordinary mortgage tops out at 90 percent.
- Bindende bud (binding bid) In Norway a property bid is legally binding the moment the agent receives it, and you cannot withdraw it before the acceptance deadline runs out (Contracts Act section 7).
- Boligkjøperforsikring (home buyer's legal-expenses insurance) Boligkjøperforsikring covers lawyer and expert costs if you pursue a claim against the seller in Norway, but not the cost of the defect itself.
- Borettslag (Norwegian housing cooperative) In a borettslag you own a share with a right to live in the flat, and you are not liable for the cooperative's joint debt.
- BSU (boligsparing for ungdom, young people's housing savings) BSU is a Norwegian savings account giving 10 % tax deduction on up to NOK 27,500 saved per year, NOK 300,000 in total, through the year you turn 33.
- Budrunde (bidding round) In a Norwegian budrunde the agent may not pass on a bid whose acceptance deadline falls before 12:00 on the first working day after the last advertised showing (consumer purchase).
E
- Egenkapital (equity / down payment) Egenkapital is the cash you put in yourself; in Norway you need at least 10 percent because a mortgage may cover at most 90 percent of the home's value.
- Eierbrøk (ownership share / sameiebrøk) Your eierbrøk is your ownership share of the property; in a Norwegian sameie, common costs are split by it by default.
F
- Fellesgjeld (joint debt of the housing co-op) Fellesgjeld is the co-op's shared loan in Norway; your share is added to the asking price and is paid through the monthly felleskostnader.
- Felleskostnader (monthly shared costs / common charges) Felleskostnader is the monthly bill in a Norwegian borettslag that covers operations, maintenance, and interest and instalments on the building's shared debt (fellesgjeld).
- Finansieringsbevis (mortgage pre-approval / financing certificate) A finansieringsbevis is your bank's written confirmation of how much you can borrow, typically up to 90 % of the home's value.
- Forkjøpsrett (right of first refusal in a borettslag) Forkjøpsrett lets existing members of a Norwegian borettslag step into your accepted purchase at the same price, within a 20-day deadline.
S
- Selveier (freehold / direct ownership) As a selveier in Norway you own the home (and your share of the land) outright, pay 2.5 % dokumentavgift on the price, and register your own deed.
- Skjult feil og mangel (hidden defect) A defect you could not have spotted before buying; in Norway you can claim against the seller for up to 5 years after takeover.
T
- Tilstandsgrad (TG, condition grade) The condition grade ranks each building part from TG0 to TG3: TG2 means a significant defect, TG3 a large or serious one (with cause, consequence, and cost estimate).
- Tilstandsrapport (condition report) A tilstandsrapport is a surveyor's walkthrough of a Norwegian home that gives each part a condition grade from TG0 to TG3.
- Tinglysingsgebyr (land registration fee) The tinglysing (land registration) fee is NOK 545 to register the deed and NOK 545 per mortgage document with Kartverket, Norway's mapping authority (2026).
- Totalpris (total price = asking price + your share of the joint debt) In Norway, the totalpris is the asking price plus your share of the borettslag's joint debt (fellesgjeld), which is the real number to compare homes on.