How to purchase an apartment in a YIT project

In order to purchase an apartment in a YIT project, first a consultation will take place with our representative who will be further assisting you in choosing the most appropriate apartment. Once an apartment is selected, three steps of selling procedure will follow: reservations, signing a letter of intent and signing a purchase contract.

Online reservation

Book your dream apartment for 7 calendar days online for free!

Reservation agreement

Over the Reservation agreement you will make the first payment in the amount of 5 % of the total transaction amount. This agreement provided you with prerogative to purchase the reserved property. However, in case you change your mind and cancel the reservation, you will be able to receive this first payment in full.

A letter of intent

Within the period of a month after the reservation agreement, a letter of intent will be signed. During the letter of intent you will have to pay another 5 % of the amount of the transaction.

A purchase contract

We will sign a purchase contract after the buildings have been put into operation and the respective property has been documented. After signing the purchase contract the rest 90 % of the transaction amount will be paid.

Frequently asked questions (FAQ)

Choosing and buying a home is an important step in everyone's life. How not to get confused by the wide range of options, how to compare options and possibilities, how and where to find answers to so many different questions. While the YIT sales team is always happy to provide you with a detailed information and advice on buying a home, we have compiled the answers to the most frequently asked questions so that you can access them in a convenient and clear way at any time!

FAQ

*THE DESCRIPTION IS INFORMATIVE, GENERAL AND OF A RECOMMENDATORY NATURE. SPECIFIC CONDITIONS, OFFERS AND TERMS ARE SPECIFIED IN CONTRACTS AND IN ACCORDANCE WITH YIT'S POLICIES. YIT LATVIA RESERVES THE RIGHT TO CHANGE AND UPDATE THE TERMS AND CONDITIONS DESCRIBED HEREIN WITHOUT PRIOR NOTICE. 

What does full finish mean?
We define full finishing as: the apartments have flooring (grade and material may vary from project to project), painted walls, internal doors, bathrooms are tiled and plumbed.

Is there a lift/elevator in the building?
The presence of a lift in each project depends mainly on the design concept, the technical solutions and the number of floors. Currently, all YIT projects which are on sale have an elevator.

How long can I choose the finishes?
The choice of finishes, as well as the possibility of individual changes, is determined on a project-by-project basis and tends to vary. The choice of finishes is usually possible at the start of construction, unless otherwise specified (these conditions are clarified at the start of project construction and apartment reservations). If you are considering buying an apartment at the very beginning of construction, a deadline for the choice of finishes will be specified in the pre-agreement and will be communicated to you by the sales team. This information is also provided on our website and in posts on our social media accounts.

Finishing options are only available for a certain period of time to ensure that materials are ordered and delivered on time and that the construction work can be carried out according to schedule and deadlines.

Does the price include parking, storage space or built-in kitchen?
The price quoted in the standard cases is for a fully finished apartment only, unless otherwise stated.

However, there may be special offers or package prices which are highlighted separately (see Apartment details - Additional information for information on whether another item is included in the quoted price).

Does the building have underground parking?
Whether the building has underground parking depends on the technical design of the project. The project description as well as the floor plans indicate this information.

How can I see the parking and/or storage plan?
If you have decided to buy an apartment with parking and/or storage, by contacting our sales team you will be sent a parking and/or storage plan electronically, which you can view and choose the most convenient parking and storage (if still available at the time)

When will the house be ready and when will I be able to view the apartment?
On average, it takes 12-14 months to build a building. We inform our buyers when the building is ready and you can follow the progress on our website. We invite you to an official viewing of the apartment as soon as the building is commissioned.

No site visits during construction!

What would be a better home for our family of 3 children?
If possibilities allow, we recommend a 4-bedroom apartment. We also offer 3-bedroom apartments with larger rooms, which will allow you to easily divide one of the rooms and create areas for more children.

What public transport is nearby? What schools are nearby? Is there a shop near the house?
The most convenient way to initially find out this information is on our website, in the Infrastructure section of each project. By ticking the sections of interest, the map shows the facilities in the area.

Our sales material also notes this information.

How much sunlight penetrates the apartment?
How much sunlight an apartment gets depends on where it is located in the building and on which floor - whether the windows face east for morning sun, west for evening sun, south for the longest sunlight and north for the shortest sunlight. When considering the layout of the apartment and the position of the rooms in relation to the sky, also take into account the particular room. For example, unless a bedroom is a study and you regularly spend all day in it, you should not worry if it faces east and only gets sun in the morning hours.

Will I own the land when I buy the apartment?
Yes, when you buy an apartment, you will own the shares in the building and the land.

Will I be able to regulate the heat in my apartment ?
The radiators installed in each apartment in YIT projects have thermoregulators that allow you to adjust the temperature in the apartment and in each room separately. Therefore, the heating costs will also be based on the amount consumed, as each apartment has its own individual heat meter.

Who will manage the house?
The building will be managed by a professional company, which will be selected following a tender procedure. In case a company formed by the apartment owners wishes to change the building manager, this will be possible in accordance with the procedure laid down by law and regulation (through a vote of the apartment owners). 

Is it possible to buy an apartment with a right rent-to-own?
No, currently YIT LATVIJA does not offer this option.

How can I reserve an apartment? Do I have to pay upfront?
When you select an apartment on our website, you have the possibility to reserve it for 7 days.  After reservation, a sales specialist will contact you to arrange the next steps - a tour of the project (if possible), a meeting at the YIT sales office or a video meeting.

*If the apartment you have chosen is already reserved, you have the option to join the waiting list.

After these 7 days (or sooner), a reservation agreement will be concluded, during which you will make a down payment of 5% of the total transaction amount. This agreement gives you a right of first refusal to purchase the reserved property. However, if you change your mind and cancel the reservation, you will be able to get this down payment back in full. The reservation agreement is valid for 30 days.

 

Do you also offer financial advice?
We do not offer financial advice, you can get it from your bank. We recommend that you contact our partner banks. (Contact details are on the same page below).

When do I need to contact the bank?
We recommend that you contact the bank at the very beginning, before you start looking at specific housing options, so that you know your lending options as accurately as possible and we can help you to select the most suitable options. However, you can also contact the bank specialists immediately after your consultation with YIT, indicating the project you are interested in and the apartment you have chosen.

YIT cooperates with leading banks in Latvia, and credit options are also assessed while the building is under construction, before it is put into operation.

When will I start making mortgage payments if the building is under construction?
The mortgage payments will start after the building is completed and put into operation, registered in the Land Register and the apartment has been assigned a cadastral number. Once you have signed the Loan Agreement with the bank and the Purchase Agreement, and the property has been re-registered in your name.

Are there any additional charges when buying an apartment? What kind, how much?
Yes, there are additional charges to be taken into account when purchasing an apartment, such as bank charges for granting a loan, notary fees, land registry state and clerk's fees, and property insurance (the amount of the fee for registering a property right in the Land Register for a natural person is 1.5% of the property value; the clerk's fee for registering a new right in the Land Register; for issuing a land registry certificate; notary fees).

Bank information

In case you need a credit to purchase an apartment we suggest that you addressed the representatives of our cooperation banks in order to consult and agree upon individual, your situation-specific conditions.

Purchase of housing, renovation, furniture and domestic appliances — any of these means additional expenses that we can find a borrowing solution from our range. To learn more details, we recommend that you apply for consultation at any SEB bank branch.

A loan for purchase, renovation or construction of housing. To make your dream of having a new or renovated home true, Swedbank will help to choose the most suitable solution.
 
 

Housing loan. Luminor specialists will assist you in preparing the required documentation, the interest rate will be calculated individually, and, within the Altum program, families with children may have a lower first instalment payment applied.

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