In Estonia, the process of purchasing a home varies significantly depending on whether the buyer is looking at a secondary market apartment or a new development. For new constructions, buyers must go through two separate notary signings: initially signing a debt contract followed by an ownership contract. This process is crucial for ensuring that both the financial obligations and ownership rights are clearly defined.

Martin Kalberg, a lawyer specializing in private loans at Luminor, emphasizes the importance of understanding the differences between these two contracts. He points out that many buyers may not be fully aware of what to expect during the home purchase process, especially in terms of the legal documentation required. This knowledge is vital for ensuring a smooth transaction and avoiding potential legal pitfalls.

Moreover, the article raises awareness about the legal implications of buying a property that lacks a usage permit. Prospective homeowners must be cautious and do their due diligence to ensure that the properties they are considering meet all legal standards. This highlights a broader concern about housing regulations and the responsibilities that come with home ownership in Estonia, especially for first-time buyers unfamiliar with these complexities.