Frequently asked questions
Buying property
What does buying property involve and what are the benefits?
Buying property lets you acquire a real asset with real value. Property is often a long-term investment that can grow in value over time.
Owning a home – When you buy a home, you create a stable living environment for yourself. It gives you security and lets you adapt the home to your needs and wishes.
Growth potential – The value of property can rise over time. A good location, development potential, growth of the area and improvements can all increase the value of the asset.
Rental income – If you buy property as an investment, you can earn rental income from tenants. This can provide a steady income and help cover the costs of owning and maintaining the property.
While buying property has many benefits, you should carefully consider your financial situation, goals and needs before deciding. It is also important to do thorough research and consult professional advisers to make sure the transaction meets your expectations and goals.
How do I find the right property?
Finding the right property can be a challenge, but by following a few key steps you can improve your chances of finding one that suits you. Here are some steps to follow: define your needs and goals, set a budget, choose an area, do thorough research, and talk to agents and owners. Be patient when searching. Remember that every property search is unique, and your individual needs and goals determine which property suits you best. Be prepared to invest time and effort to find a property that meets your requirements and budget.
What are the buyer's rights if the seller breaches the contract?
If the seller breaches the sales contract, the buyer has several rights depending on the specific breach and local law. The buyer may seek legal remedies and possible compensation. Possible steps include: demanding performance of the contract, claiming compensation, cancelling the contract, claiming damages, taking legal action, or clarifying the contract terms.
What do banks require from borrowers?
Banks’ requirements for borrowers vary depending on the loan type, amount, term and other factors. Still, there are some general requirements banks usually expect from applicants: income, employment history, other debts, collateral, savings, other documentation and the applicant’s age.
These are some of the main requirements banks usually have for loan applicants.
Before applying for a loan, it is advisable to contact the bank or lender for precise information on the requirements and terms, and to make an informed decision based on your financial situation and needs.
How are furniture and fittings valued in the purchase price?
The value of furniture and fittings in the purchase price depends on many factors, including their condition, age, brand, rarity and market price. Sometimes it may be necessary to consult a furniture valuation specialist, especially for rare or expensive items. A valuer can draw on their knowledge and experience. Buyers and sellers are advised to research similar items and assess their condition, brand, age and market price to get a better idea of the value. Keep in mind that the value of furniture and fittings can change over time, so market conditions and demand should also be taken into account.
Why should I use an agent when buying property?
An agent is valuable because they know the market and the areas, often find offers you would not see yourself, and save you time (screening suitable options and arranging viewings).
They also help negotiate the price and terms, share important background information (market situation, neighbourhood) and keep the legal side and the process smooth and secure.
In short: less stress and more confidence that you are making an informed decision that protects your interests.
Selling property
How do I find the right agent to sell my property?
Finding the right agent takes some research. Talk to several agents. Check their background, read reviews and, if needed, ask for references from previous clients. Read my article on finding the right agent here.
What should I consider when setting the asking price?
Setting the asking price is one of the most important decisions when selling, as it affects how quickly and how successfully the sale goes. Points worth considering: the property’s location, condition and unique features. It is also worth watching what is happening in the market at the time of sale. Read the full article on setting the asking price here.
Should I renovate before selling?
Whether to renovate before selling depends on several factors, including the condition of the property, your budget and the location. Read my full article on this topic here.
How is the sales contract concluded?
Concluding the sales contract is an important stage of the selling process. The contract sets out all the terms and obligations of the transaction for both the seller and the buyer. It is important to draw up a clear, precise and legally valid contract that protects both parties. Before signing, it is well worth consulting professional advisers to make sure every aspect of the transaction is properly covered. In Estonia, property sales contracts are concluded at a notary.
Banks’ requirements for borrowers vary depending on the loan type, amount, term and other factors. Still, there are some general requirements banks usually expect from applicants: income, employment history, other debts, collateral, savings, other documentation and the applicant’s age.
These are some of the main requirements banks usually have for loan applicants.
Before applying for a loan, it is advisable to contact the bank or lender for precise information on the requirements and terms, and to make an informed decision based on your financial situation and needs.
What is the seller's liability for hidden defects?
The seller’s liability for hidden defects is a legal obligation that may apply when a property is sold and it turns out to have defects the buyer did not know about and could not have been expected to know about, but which the seller knew or should have known about. In that case the buyer may be entitled to claim compensation from the seller. Read more about when compensation for hidden defects applies.
Does the seller have to insure the property before selling?
Insuring a property before selling is not required by law, but it can be a sensible precaution for both the seller and the buyer. An insurance policy can protect against unexpected accidents and help ensure the property does not lose value before the sale is completed. Before buying or changing insurance, it is advisable to consult an insurance broker or adviser for information and recommendations suited to your situation. Read the article on this topic here.
Are you available in case of urgent problems?
Yes, I am available for urgent problems and can offer help and advice with any questions or concerns. When working with me, you can count on it: any time is a good time to call. I am available 16 hours a day, every day of the week.
How do you secure the best market price for me?
To achieve the best market price, I carry out thorough market analyses and valuations based on the current state of the Tallinn property market. I also monitor market developments continuously and adjust pricing accordingly.
Renting out property
How does an agent help find the right tenant for my house or apartment?
An agent helps find the right tenant through professional marketing, listings and their network of contacts. Prospective tenants are screened and their ability to pay and reliability assessed. The agent also arranges viewings and communicates with prospective tenants. This is how the property ends up with a tenant who suits both the home and the owner’s expectations.
How do I set the right rent to match the market and my expectations?
The best market price comes from thorough market analysis and valuations based on the current state of the Tallinn property market. I also monitor market developments continuously and adjust pricing accordingly. My aim is to make sure the property is valued correctly and the price makes sense to both the landlord and the tenant.
What are the rights and obligations of tenant and landlord when renting through an agent?
When renting through an agent, the tenant and landlord have the same rights and obligations as under any standard rental agreement. The landlord must ensure the home is in the agreed condition, and the tenant has the right to use it in peace. The tenant in turn must pay rent on time and look after the home with due care. The agent helps ensure that all terms of the contract are clear and comply with the law, reducing later misunderstandings.
How is the rental agreement drawn up and signed with an agent's help?
A rental agreement is generally concluded as follows: the tenant and landlord agree on the rent, the terms and the duration of the lease. A written contract is then drawn up and signed by both parties. The agent helps draw up the agreement.
What checks does the agent carry out during tenant screening?
During tenant screening, the agent takes several steps to verify the tenant’s reliability. This usually includes checking payment behaviour and any debts, asking for references from previous landlords, and reviewing the person’s employment and income. If needed, public registers are also checked to rule out major problems or risks. This helps find a tenant who takes care of the property and meets their obligations.
How do I minimise risks and avoid problems when renting out my property?
Additional protection comes through the Rendin platform. Instead of a deposit, Rendin provides liability cover worth 10 times the deposit. It also covers up to 3 months of rent and utility bills if the tenant fails to pay them.
Does the agent also handle short-term and unfurnished rentals?
Yes, I can also help rent out larger, short-term or unfurnished apartments. Tenants are often looking for exactly that: an unfurnished or short-term rental. Don’t hesitate to get in touch. I will find the right tenant for your apartment too.
How does the agent help achieve the best market rent?
The best market price comes from thorough market analysis and valuations based on the current state of the Tallinn property market. I also monitor market developments continuously and adjust pricing accordingly. My aim is to make sure the property is valued correctly and the price makes sense to both the landlord and the tenant.
What does the agent do in emergencies or if problems arise during the tenancy?
I am available and can offer help and advice with all kinds of questions and concerns. When working with me, you can count on it: any time is a good time to call. I am available 16 hours a day, every day of the week.
When can I contact an agent if a tenant is already living in the property?
It is worth contacting an agent even when a tenant is already living in the property. For example, when problems arise with rent payments or the terms of the lease, when you want to amend or terminate the lease, or when you plan to sell the property. The agent helps find a solution that is legally correct and as smooth as possible for everyone involved. This avoids misunderstandings and keeps the whole process professional.