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Buying property outright

Transferring money to complete purchase

jlineton
post 10.Sep.2018, 12:52 PM
Post #1
Joined: 31.Oct.2016

Hi,

I want to purchase a small apartment in Sweden outright. I want to understand the process. I understand that you will sign a contract with an estate agent and then the money will be transferred to the seller’s bank by your bank. This is done by the bank if you are taking out a loan, but, how does this work if you have all the money in your account. What protection do you have that the money goes to the right person and what protections do you have – how do you know the person selling has own’s the property? How do you know the money goes to the right place? I have been told that as I am not taking out a loan I will have to pay the bank 5000Skr to do this, what is this service for? What protections does it have?
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skogsbo
post 10.Sep.2018, 01:32 PM
Post #2
Joined: 20.Sep.2011

You can pay it through you solicitor, land agent or who ever processes the paperwork. You are correct, don't ever transfer direct to the seller as you are more at risk of scams.
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bonviveur
post 10.Sep.2018, 03:58 PM
Post #3
Location: Värmland
Joined: 12.Oct.2015

when I bought my house,I did transfer money to estate agency special account for this, after papers signed estate agent transfer money to seller, job done
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