The (annual) general meeting of a housing company is important. It is simply not worth ignoring. I have already previously written on its importance. And its importance has continued to grow. So have the standards for the boards and management of housing companies in general. Hesari published an article on 21.3.2024 on the subject article […]
12 October. day in 2023 will remain in the history books. On that date, the Finnish government proposed changes to the asset transfer tax. The surprising thing is that the tax is being lowered, not raised! The transfer tax on securities will be reduced from 1.6% to 1.5% from the beginning of 2024. The percentages
Anyone even tentatively considering buying a home will have read a steady stream of news about the economy and the housing market in particular. It is probably obvious to everyone that inflation is running at a gallop and interest rates are “high”. It is true that both of these variables have risen at an historic
Almost all housing companies will have a general meeting at some point in the spring. All too often, attendance at company meetings is far too low. Although in a way it is to some extent a bun, ignoring it is relatively stupid. Because a general meeting has a quorum when it has been duly convened
The Annual General Meeting is coming up. What to expect? Read More »
The turn of the year brought good news for first-time home buyers! The changes to the terms of the ASP scheme made in April 2022 have entered into force at the beginning of this year. The changes have been made to make it easier for people to buy their own home with an ASP loan,
Over the last six months we have seen that the bankruptcy of housing companies, or at least the threat of one, has been getting quite a lot of media coverage. Until recently, the bankruptcy of housing companies was not even considered a possibility. Until they did. And of course, it is obvious that any limited
Buying a home is usually a reasonably big deal. It is a fairly long-term commitment and involves a considerable amount of money. If, and usually when, the purchase is financed by a loan, you should of course be careful about the terms of the loan and the length of the commitment. It is very common
In principle, buying a home is always a good solution. But it involves a huge variety of terms, concepts and even jargon. Since housing is usually a pretty big investment, it’s not a good idea to do it if you don’t really know what you’re talking about. I myself have been involved in the housing
Buying your first home is almost invariably the biggest purchase of your life, and for most Finns, it is the most important form of wealth. This is why I want to encourage more and more (first) home buyers to think like a home investor when buying a home. Before buying my first home, I had
I opened my ASP account with OP in October 2018 when I decided that it was finally time to start saving systematically for my first home. However, I was surprised to learn when I was looking for my first home in spring 2020 that you have to save in an ASP account for at least
The location of your home and the area you live in directly affect your comfort in your new home – you can usually change the home itself to suit your preferences, but location is and will remain. If you remember to think about a few basic things when looking for an apartment, you can avoid
Due diligence? Wikipedia describes the term as: “English term due diligence is used in Finnish only in the business world and usually only in the narrower sense of due diligence by a proposed acquirer on the target of an acquisition. This will identify the risks and liabilities associated with the transaction in advance. In English,
When you buy a condominium, you buy the right to manage the shares of the housing company. This brings with it both responsibilities and rights – you need to be careful at least when you decide to renovate something. Under the Housing Act, it is the responsibility of the shareholder – you – to take
Renovation and nice tiles for your bathroom right now! Read More »
There is. A lot. Second-hand dwelling An apartment in an old company is a fairly straightforward matter for the buyer. It is important to understand that. the overall condition of the building, its renovation history, finances, management and future prospects. The weighting of the different components depends on the size of the group, the age
Is there a difference between buying a new home and an old one? Read More »
…because we have a history of delivering ordered services quickly, often talking about hours. We understand that the pressure to buy once you find the home of your dreams is intense, which is why we promise delivery within 24 hours of your order. At the latest. This way, you don’t have to hold your breath in your shopping pants for an unnecessarily long time.
There are quite a lot of different documents involved in a housing transaction, ranging from a sales brochure to a floor plan to an audit report. All are necessary for the evaluation, but it is still possible to summarise the essentials in plain language in a single report. Good riddance to the legalese and welcome the core facts with one (1) single report!
Even if the deed of sale of a residential property is a free-form deed, it should still contain all the essential information. We will check that this is the case. We will also check all the annexes that go on the side of the deed, i.e. the entire bundle of documents. You can then breathe a little easier as you sign the deed to your new home.
We are here to help you negotiate your offer. We tell you what to look out for, what to ask the seller/agent and how to interpret the answers. And what conclusions can be drawn from the situation
There is more to a takeover bid than just the price offered. We will help you to identify critical issues and check that all the agreed issues are properly recorded in the offer. And only the agreed things. So that you can sign it with confidence.
And by that we mean the final price. We also take into account any company debt and the plot share. We compare the price to other comparable realised transaction prices in the area, not to asking prices. Apartments are always individual, and their equipment and condition vary greatly. However, we will find out if the price area is reasonable and acceptable.
We estimate the level of the management fee charged by the company compared to other comparable housing companies in the area. We also look at whether the level has been right for the costs and whether there are clear upward pressures.
We’ll find out if there are any zoning changes afoot, or if that sea view you bought at great cost is about to disappear behind a new tower block in a year’s time. Or whether there are some less radical things happening around the place you are considering.
We look at how the management of the company has performed, including both the management and the board. Has the management been concerned only with making savings at every point or with keeping the company in good shape and maintaining or even increasing its value?
We assess what kind of renovation projects are expected in the near future and the timeframe in which they can be expected to take place. We might also throw in some guesses as to the expected costs!
We look at when and what measures have been taken in the company and mirror them against the technical lifetime of each item. For example, we use the definitions of the Finnish Building Information Foundation RTS and the Central Association of Plumbing and Heating. This allows us to estimate whether the company has a repair debt.
We carefully read through the company’s balance sheet and annual report, calculate the company’s indebtedness, liquidity and assess the overall financial situation. We compile our findings into a plain-language report that gives you an overview of the company’s situation.
