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Purchase

The choice of the apartment is interesting and enjoyable process. Once the decision has been made, several steps have to be taken to be ready to move in: Booking of the apartment; Purchase document preparation; Payment procedure; Getting the keys.

 

Choose the apartment

Usually, you have to choose an apartment, then contact with bank specialists to acknowledge Your solvency and get the best offer from the bank.

Precontract the purchase agreement

To reserve the apartment, You must sign a preliminary agreement with the project developer and make a down payment – 10% of the total transaction amount. There are 2 options for the further process:

Pay from Your personal funds or with bank co-financing

In this case, You plan to pay for the purchase of the apartment entirely from Your own funds or borrow from a bank (except SEB banka).

Co-financing in cooperation with SEB banka

We cooperate with SEB banka, which will provide You with detailed, quick and comprehensive advice on lending options, because it is fully familiar with all the information about our project, and You will definitely be pleased with SEB banka’s special offer for several services. The basic conditions for applying for financing support from SEB banka are:

  • Stable, regular and sufficient income to fulfil credit obligations. The bank evaluates Your declared income – salary, business activity income, rent, etc.
  • Positive credit history. Before granting a loan, Your previous financial obligations are evaluated. A positive credit history consists of timely fulfilment of obligations.
  • Monthly loan payment. It should not exceed 40% of Your net income together with Your other loan and lease payments.
Enter into a three-party escrow service agreement

It is an agreement that You conclude with the developer and SEB banka for receiving additional financing for the payment of the purchase price of the apartment, and it guarantees You that SEB bank will grant You the necessary loan in the amount agreed in the agreement.

Pay 10% booking amount into developer's bank account

According to the concluded pre-contract for the purchase contract, You pay 10% of the total amount of the transaction to the account of the project developer.

Deposit 10% reservation amount into SEB bank transaction account

You pay 10% of the total amount of the transaction into SEB bank’s escrow account under the escrow account agreement. The transaction account provides a security guarantee to both the buyer and the seller, as the bank only pays money to the developer once the transaction has actually taken place and the property documents are drawn up in the name of the new owner.

Enter into a purchase agreement

Once the building has been commissioned and divided into apartment properties, we will invite You to see the finished apartment and sign its purchase agreement. After signing the purchase agreement, You will need to pay the remaining amount of the contract into the developer’s account or make payments under the SEB Bank transaction account agreement.

Check in keys

After the transfer of ownership rights in the name of the new owner and after receipt of the full purchase fee, we will issue You with the keys to Your new apartment.

 

And don’t forget to insure Your new property. Our partner will offer You special conditions:

Find an apartment

Contact us

Anda Enģele

Anda Enģele

+371 29 424 924
anda.engele@elkosia.lv
Apiņu iela 7, Ķekavas novads, Ķekavas pagasts, Krustkalni LV-2111, Latvija