Buying property in Estonia

12-05-2017

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Initial agreement between the seller and the buyer - Before Contract

What form can this agreement take? Preliminary contract?

A preliminary contract must be in the same form as the contract itself.

With whom must the parties (buyer/seller) formalise the initial agreement? Is a legal form imposed?

The same requirements apply as to the contract itself. As the sales agreement of immovable property must be authenticated by a notary, the preliminary agreement on the same matter should be also authenticated by a notary.

What are the legal effects of this preliminary contract? Is a preliminary contract necessary?

A preliminary contract is an agreement in which parties agree to conclude an agreement in the future with the conditions provided in the preliminary contract. A preliminary contract is not necessary.

Are there amounts to be paid, and to whom? Can these amounts be repaid?

Amounts can be paid on the bases of a preliminary agreement.

Are there any consumer protection measures (cooling-off period, right of withdrawal)?

If applicable, then the consumer protection measures apply. The right of withdrawal depends on the content of the preliminary agreement and does not arise from the consumer protection measures in the conclusion for the sale of immovable property.

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Notarite Koda
Tatari 25, 10116 Tallinn
Tel: +372 617 7900
Fax: +372 617 7901

koda notar ee

www.notar.ee

Information for non-EU European countries is available at the following link.