Before the transaction
A DIAS property transaction always requires a real estate agent who sends the transaction information to DIAS from their own agency system. The real estate agent prepares the deed of sale and has the draft approved by the parties to the transaction. Once the parties to the transaction have approved the deed of sale, the real estate agent can send the transaction to the banks’ work queue in DIAS.
You should contact your bank immediately after accepting the offer to agree on the details of a possible mortgage for the property to be purchased. Your bank will need at least the property manager's certificate for the final loan decision. Once you have received the loan promise, you must agree on the necessary matters with the bank and sign the financing documents so that your loan is ready for withdrawal for the transaction. Even if you do not take out a loan from the bank, your bank will take care of the verification of the deed of sale, transfer of payments and registration of ownership, among other things. In such a situation, your own bank and the seller’s bank may contact you regarding the proof of origin of the funds as part of the preparation of the transaction.
Preparation of banking matters
As a rule, a DIAS transaction is ready to be signed approximately five banking days after the transaction has been sent to DIAS. The duration of the preparation phase may be extended, for example, by the incomplete loan negotiations with your bank, the need for other collateral in addition to the object to be purchased, or last-minute changes to loans.
Before the transaction can be signed, you must sign the necessary documents with your bank for the withdrawal of any loan, and the funds used in the transaction must be ready for withdrawal for the payment of the transaction price.
As part of the preparation of the transaction in cases where the buyer does not take out a loan, the buyer’s and the seller’s banks may contact the buyer regarding the proof of origin of the funds used for the transaction.
The bank will contact its own customers regarding delays. Depending on the bank, contacts related to the DIAS transaction are primarily made by telephone and, depending on the situation, also via the online bank or email.
Progress of the transaction
- The real estate agent initiates the transaction in DIAS when the deed of sale is completed. You will receive a notification by email.
- Your bank will advance the transaction once you have agreed on all the necessary matters together. Both the seller’s and the buyer’s bank must advance the transaction before the signing phase can be initiated. If the preparations for the transaction at the bank are not completed within the target schedule (5 banking days), the real estate agent will receive an updated schedule estimate sent by the bank by email.
- The real estate agent initiates the signing phase. You will receive an invitation to sign by email. If you have not received the email, you can authenticate yourself in the online service by going to e-service.dias.fi. You do not need an invitation email to log in.
- Sign the deed of sale and the necessary authorizations using your online banking credentials, mobile certificate, or the Hightrust.id application within 24 hours at e-service.dias.fi.
- The signed deed of sale and any appendices to the deed of sale are available for download from the online service for three months after the completion of the transaction.
- After the signatures, the banks will take care of the payments for the transaction. First, your own bank pays the purchase price to the seller’s bank and any transfer tax on your behalf. Payments are made on banking days according to when the signature phase has been completed (read more about processing times ). If necessary, you can get information about the progress of payments from your real estate agent.
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After the payments have been made, the banks take care of matters related to the registration of ownership.
• If the ownership of the property has been demonstrated by a paper share certificate, the seller’s bank makes a transfer entry in the share certificate with the seller’s authorization and sends the share certificate to the National Land Survey of Finland. Registration applications are part of the DIAS process.
• If the property is owned electronically, your bank will take care of the registration actions as part of the DIAS process. After the seller's bank has received the purchase price, it will apply for the removal of any electronic pledge entries registered for the object for the seller.
Your bank will receive the information directly from the National Land Survey of Finland when the ownership and pledge have been registered in the Commercial Property Information system. You can check the information for your apartment from the National Land Survey of Finland’s online service. - You can agree on any matters following the transaction, such as handing over keys, directly with your real estate agent.