Read this before making an Offer for a House in Finland

But here’s the truth: in Finland, an offer is not just a handshake. Once it’s accepted, it’s legally binding. That means you need to be absolutely sure of what you’re getting into before you sign your name on that paper.

And it’s not just about the apartment itself. When you buy in Finland, you’re also buying into the housing cooperative (taloyhtiö) – with its board, financials, and future renovation projects. On top of that, the exact terms of your offer can protect you… or leave you exposed.

That’s why I always tell my clients: before making an offer, slow down and check these key points first.

1. Understand the cooperative’s finances

When you buy a home in a housing company, you’re not just paying for your apartment. You’re also responsible for a portion of the cooperative as a whole.

Check that the housing cooperative’s finances are in order, i.e. income covers costs, at least in the long run. If the cooperative has no buffer and it needs to collect extraordinary rounds of charges from the shareholders, it has probably been budgeting to optimistically. This might indicate you will have to pay more charges in the long run than you probably think.

2. Look out for upcoming renovations

The biggest hidden cost in Finnish housing is future renovations.

Even if the cooperative’s financial situation looks solid today, major renovations – like the pipes (putkiremontti) or façades and balconies — can cost several tens of thousands of euros per apartment.

Always check what renovations you have to expect in the longer run, even if they are not mentioned in the cooperative’s 5 year outlook. Also check this blog post.

3. Know your negotiating power

The asking price is rarely the final price for house.

Especially right now, with housing prices in Helsinki still falling, buyers have much more room to negotiate.
But only if you know what to leverage.

Upcoming renovations aren’t just risks – they’re also powerful negotiation tools.
Pointing out future costs can help you bring the price down significantly in your offer

4. The terms of your offer matter

In Finland, once an offer is accepted, it’s binding — you can’t just walk away without a valid condition in place. That’s why the details of your offer are just as important as the price.

Some key points to think about:

• Vacation (key handover date)
• Validity period: how long your offer is binding (usually 1 day).
• Conditions (ehdot): these are your “safety nets.” Without them, you may be stuck.

5. Use conditions to protect yourself

Foreigners often don’t realize how critical offer conditions are. They give you the right to walk away if something unexpected comes up.

Typical conditions include:

• Financing condition: your bank must approve the loan before the purchase is binding.
• Condition to sell own house first
• Technical inspection condition: the deal depends on a professional inspection (makes sense only with detached houses)

Without the right conditions, you may end up buying a property you can’t finance or that comes with unpleasant surprises.

6. Penalty

Normally, each purchase offer includes a clause stating that if the seller accepts the offer, either party must pay a penalty of about 4% of the purchase price if they back out before signing the sales deed.

Final thought

Making an offer in Finland is about so much more than liking the house.
It’s about understanding the cooperative you’re buying into – its finances, future renovations, the terms of your house offer, and your negotiating power with both the seller and the bank.

Get this right, and you’ll not only avoid costly mistakes but very likely secure a better purchase price.