Looking for a home in Norway?

Looking for a home in Norway?

The realtor in Norway  mostly work for the benefit of the seller, while buyers and leasers are usually on their own.  Concultancy for real estate buyers and leasers is a fairly new business area in Norway and Krogsveen is the first real estate company to offer this services.

Our home buying consultants can offer you the following services:

  • Finding a house or apartment that meets your desires and financial capability
  • Helping you to make a safe property investment
  • Doing research on all the aspects of the property you are interested in, including checking the sales material
  • Helping you to estimate the correct buying price.
  • Participating in viewings at potential properties
  • Helping or represententing you in the bidding round and negotiations
  • Additional services such as help for relocation, interior design and refurbisment through highly qualified partners

We only work for the buyers:

The home buying consultants in Boligkjøpsrådgiver Krogsveen are educated realtors. That means that we have good knowledge of laws and regulations, the market and the methods of the seller’s realtor.  Therefore we are able to secure you a good investment and a secure housing trade.  We have chosen to only work with the buyers in the housing market as an impartial representative.

We have already helped many people, both foreigners living in Norway and people living abroad, to find a suitable home in Norway.

You are very welcome to contact us for a noncommittal talk or send us an e mail.

Trude Larsen,    T: +47  950 37 330                    trude.larsen@boligkjopsradgiver.no

How to buy a home in Norway – short info

The buying process.

The buying process with help from a home buying consultant

The home buying consultant works as an impartial representative for the buyer.

The buyers position in the housing market

  • Usually on their own, without a professional support
  • To some extend protected by the laws that regulate the home buying market, such as Alienation Act (Avhendingsloven) and the Real Estate Law (Lov om Eiendomsmegling)
  • Must make quick decisions (usually the buying process takes only one week)
  • Must take a lot of responsibility checking the condition of the apartment – buyers duty of inspection is regulated in the law.

Don’ t be scared – but you have to be careful

The buying process in short

  • To find the apartment – go to www.finn.no
    99% of the sales objects are listed there.  The ad is usually available one week before the Open House viewing.
  • Read the ad and download the prospect.
    But of course it is difficult for you to read because it is in Norwegian !
  • Visit the Open House viewing or you can ask the realtor for a private viewing
  • If you decide to give it a try, you have to give a bid.  The only can only accept a bid after 12.00 a.m the day after the last Open House viewing.
  • The bid is legally binding, you can’t redraw.
  • The final contract is just a confirmation of the information in the sales material and the conditions in the bid.

Seems easy ?         or      maybe not?

Money and budget.

You need to prove they you are in a position to finance the property you want to buy before you can give a  bid.   The realtor and the seller will demand this before accepting a bid.

You do not need to be a citizen of Norway or be a resident with a job in the country to buy a property in Norway, but to get a mortgage you have to fulfill a lot of these requirements.

What can you afford within your budget?

Before you start looking try to find out what you can afford to buy.
Size, location and quality standard.  These are all  important factors deciding the prize of the apartment.  Location is the most important.

Prepare the search

When you have found out if you are able to buy and where you can afford to buy, you can start the search.

  • Be aware:The asking price – «prisantydning» is seldom the final prize. It may be lower than the real market prize. If your budget is the same or lower than the asking prize it is likely that you can’t afford to buy the apartment, because the bidding process normally will increase the final prize, depending on the attractiveness of the apartment.

Be realistic so you don’t waste time on objects that are unachievable

The responsibility to check the property

  • The seller and the realtor are by law obliged to give the buyer all important information regarding the property at hand.
  • But negative factors are not always obvius. Therefore you have to examine everything carefully. As a buyer you are obliged to make an independent inspection of the sales material and the property itself.
    If not you might run into trouble and costs later on.

In Norway 1 of 4 housing trades causes complaints after the purchase.

Checking the sales material.  Key elements

Sales prospect = salgsoppgave

  • Economy price of the property and monthly cost
  • Key information (nøkkelinformasjon)
  • Technical status report – tilstandsrapport
  • Sellers declaration – selgers egenerklæring

The bidding process

  • The bid is binding
  • You must only give bid on one property at the time
  • Don’t get carried away giving bids you cannot afford or risking paying too much for the property.
    Prepare the bidding round and set a limit for yourself before you start
  • You have to state suggested take over date in the bid
  • You have to inform about the contact person in your bank so they can confirm your finance plan. BUT do not send the loan approval sertificate to the realtor, he must NOT know about your top level.
  • If you are married both parts have to sign the bid

A lot to digest and a big investment

It is quite a lot of information to digest when buying a property Norway.

You are responsible to obtain the information before you buy.
And when all documents are written in Norwegian you might require heltp from a Norwegian speaker.

But even Norwegians have trouble to understand it all,  so you might be better off seeking professional support.

You are welcome to contact me if you have more questions,
or use the chat here on the website.

Trude Larsen,    T: +47  950 37 330                    trude.larsen@boligkjopsradgiver.no

Trude Larsen

If you are looking for a house or apartment to buy or lease in Norway, I will help you to find a home that meets your desires and financial capability

For home buying consultancy:

  • Dette feltet er for valideringsformål og skal stå uendret.