Hi guys,

I’m using an ad on finn.no and I'd appreciate some clarification on the pricing structure. I’m a foreigner and I’m looking at understanding my purchase costs excluding transaction fees.

I don’t have borrowing/loan costs. Do I still need to consider the total price or is the asking price a closer indication of the cost of the apartment.

I believe my maintenance contribution for the complex is 11468 NOK.

Thanks!

https://www.finn.no/realestate/homes/ad.html?finnkode=433210777&ci=8

by kapps7

4 comments

  1. Asking price what the seller wants for the apartment, you can bid less than this if you feel like it. Total price is the askikg price combined with potential joint debt and asmimistrative costs. Joint debt is the debt of the apartment complex/collective. This is nonegotiable and you have to pay it to buy.

  2. Well first of all. SEK is Swedish Krone. So this is a Swedish ad.

    But it is pretty self explanatory no?

    Asking price: What the current owner is demanding in cash from you or your bank.

    Charge: Tax

    Joint debt: How much debt the collective is in. An apartment building spreads its expenses on the owners of the apartments within the building. The fine details differ from building to building, some rules are stipulated by law while others are more varied. Definitely read up on the small print before making bids.

    Communal food/month: Weird translation. It is how much you have to pay each month to the collective, the sum is used to pay for any applicable taxes, public services, debts as well as any other financial obligations the building may have.

    Price of loan: Is just an example sum under certain assumptions. You will obviously have a chat with your bank to get the exact figure.

    So if you buy this apartment:

    1. You pay 1,9 million to the owner either with your own cash, or you loan the money and your bank pays the owner. How much you pay per month depend on your agreement with the bank.

    2. You enter into an agreement to owe the collective 2,28 million

    3. You agree to pay the collective 11 468 per month. Part of this amount will be used to service the 2,28 million debt.

  3. I do hope you’re not considering buying a 26sqm apartment built in 1938, with 11.500kr monthly common charges for a total price of 4.2 million though.

  4. Have to assume this is a joke. 4,1m for a closet with high debt and monthly costs? The hell is this exactly?

Comments are closed.