Thursday, November 23, 2006

Purchasing Real Estate in Sweden - The parties involved in a Swedish real estate transaction - Buyer

If the buyer is a limited liability company it is wise to have the buyer present a resolution by the board of directors of the company approving the purchase. The managing director of a company is normally not allow to decide on purchases of real estate on his or her own, unless sales and purchases of real estate constitutes the normal business of the company.

Normally, in transactions involving private homes, the buyer accepts to rely on the advice of the real estate agent, even if he is commissioned by the seller. The buyer would not seek the advice of a lawyer. Sometimes the buyer’s bank will read the purchase contract draft and advice the buyer.

When the real estate transaction concerns a commercial property the buyer would normally involve his own lawyer in the negotiations and production of transaction documents.

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