First and the most experienced real estate company
IN LATVIA AND ST. PETERSBURG SINCE 1991


 

SERVICES


  • Intermediary services;
  • Consulting;
  • Independent appraisal of real estate;
  • Legal consultations in real estate transactions;
  • Management of residential and commercial properties.

 

For owners/those who wish to sell property

The "NIRA Fonds" offers a full range of services to property owners and those who wish to sell real estate.

   The "NIRA Fonds" offers a full range of services to property owners and those who wish to sell real estate in Rīga and its metropolitan area.  The "NIRA Fonds" ensures the highest level of quality in the services that it provides – personal consultations, as well as the handling of the entire cycle of the transaction, starting with selection and advertising of the object, continuing with all legal aspects of the process, and ending with the involvement, if necessary, of tax and financial consultants.
Experienced real estate specialists will help you to conduct the transactions, starting with express consultations on the market value of your object and ending with the handling of all legal and financial aspects of the transaction.

   Express appraisal:  "NIRA Fonds" real estate agents will provide consultations on the market value of your property, offering an express appraisal at no charge to you.
Submitting an application to sell or rent:  If you wish to sell or rent out your property, you need only submit an application, and our specialists will contact you within 24 hours.

   Full appraisal:  you can receive a full appraisal of your object, the work being done in full accordance with Latvian and international appraisal standards.  The "NIRA Fonds" has more than a decade in appraising the market value of residential and commercial properties.  File an application of a full appraisal here, and our specialists will contact you within 24 hours.

Exclusive contract:  by concluding an exclusive contract with us, you will ensure:
1)  Protection of your legal rights and interests;
2)  Protection of your economic interests;
3)  Realistic property appraisal on the basis of the existing market situation;
4)  Saving time, because we will handle calls from interested parties;
5)  Effective advertising of your property;
6)  Legal consultations and analysis of all documents;
7)  A professional consultant and advisor as part of our services.

Selling the property without the help of a real estate agent:  if you want to sell your property without the assistance of an agent, the "NIRA Fonds" has some advice which you should follow.  Should you have questions, seek the advice of the "NIRA Fonds" real estate company!

Appraisal

   When it comes time to sell your home, a property appraisal will be the first step, allowing you to learn the true value of the building.  The easiest way to determine the average price in the market is to look at prices in real estate advertisements.  Here, however, one must remember that those are desired prices, and they are not necessarily the same as the price which someone might be prepared to pay or which a lending institution might be prepared to finance.

Advertising

   If you have decided to sell your flat on your own, you will have to think about how to advertise this fact so that as many potential buyers as possible learn about it.  You should state a phone number where you can be easily reached.  Please remember, however, that you cannot always be sure of the honesty or the true interests of people who contact you.  Advertising such be placed on as many Internet advertising sites as possible, as well as in the specialised and non-specialised press.  To be sure, this will cost money.

Showing the home and bargaining

   Once you’ve placed your advertisement, you can expect potential buyers to ring you.  They’ll want more detailed information about the home, and they will ask when they can come and see it.  If you receive few or no calls, then you must ask whether you’ve placed the advertising to a sufficient extent and whether the price that you are asking is in line with buyer expectations.  You must treat all callers seriously.  Remember, however, that you will not know the people who are coming to see your house, so act to protect your valuables.  Experience shows that buyers are usually interested in the technical condition of the home, the height of ceilings, the view outside the window, and the things which the seller will leave behind – an installed kitchen, furniture, etc.  Buyers are usually not interested in those things that the seller will not leave behind.  If a potential buyer demonstrates interest in fine furnishings or household equipment which the seller is not planning to leave behind, then you should be careful, because it is quite possible that the would-be buyer is actually interested in something other than buying the property.
   Sometimes a potential buyer will turn up with a real estate agent, and that will allow you to receive some free consultations.  Be careful, however.  A real estate specialist who undertakes to resolve issues that relate to the sale of the property may submit a bill for services rendered afterward.  Make sure that any help that is offered is actually free of charge.

The first deposit

   If a potential buyer who has inspected the home shows an interest in buying it, the next step should be to ask for a deposit and sign a preliminary agreement.  Only then should you stop advertising the property.  Without such an agreement, you will have lost time if the buyer ends up changing his mind.  Buyers, in turn, should not sign a deposit agreement if they are not quite certain that they will buy the property.  This means not limiting choice until such time as a written guarantee from the bank about issuing the necessary mortgage loan has been received.
   The most sensitive issue in the purchase or sale of a property will be payment.  The buyer will not want to hand over the money until the property belongs to him, while the seller will not want to end legal ownership of the property until the money has been received.  In practice, this issue is usually resolved with the help of a transaction account.  The optimal solution may differ from case to case, however, and before any decision is taken, The advice of a legal and financial consultant should be sought.
   Another sensitive nuance is vacating the property in legal and practical terms.  This, too, should be addressed in the contract, because otherwise there might be the unpleasant situation in which the buyer wishes to move to your property before you are prepared to vacate it.  A deadline for this should be defined in the agreement.
   Given the situation in Latvia’s real estate market at this time, the seller is strongly encouraged to ascertain whether the buyer has the necessary funds before a deposit agreement is signed.  It should also be determined whether the payment will be made in cash or via a bank loan.  If the latter is true, it must be ascertained that the bank has issued written confirmation that the loan will be extended.  Otherwise the seller may find that even though the deposit has been received and the deposit agreement has been concluded, the bank will not provide the rest of the necessary financing, and so the transaction may well fall through.

Preparing documents for the transaction

   Before the transaction can occur, the seller will need to gather together all of the necessary documents.  This can be done once the dwelling is already being advertised or when the deposit agreement has already been concluded.  This is a process which will take quite a bit of time, because it involves several different institutions, and each will have its own working hours.  Each document, moreover, will have an expiration date.  This means that you should not start this process too far in advance, because by the time you finally get around to concluding the deal, some of the documents might no longer be valid, and then you will have to start all over again.  On the other hand, if you do not have documents to show the potential buyer, your offer may seem less than convincing, and the buyer may look elsewhere.  This means that while you are gathering together the documents, the buyer might have found a different home to buy.
Click here to apply for the service of preparing the transaction.

Documents necessary to sell a dwelling
Payments, notary services, registration

   It is best to choose a well known Latvian commercial bank for the transaction.  All of them offer transaction accounts for the transfer of money.  This protects all involved parties against fraud.  In some cases, the best solution will be different, however, so before taking any decision, ask for the advice of legal and financial consultants.
   Once the payment issue has been arranged, it is time to visit a notary public to sign the agreement.  The next step is to register the property in the Land Book.

Moving out in legal and practical terms and the document of transfer and acceptance

   Once all of the formalities have been settled, it is time to vacate the premises.  The legal and practical aspects of this should be determined in advance.  Once that is done, the only thing that remains is to prepare and sign a document of transfer and acceptance.


23 YEARS OF EXPERIENCE.