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 can contact your bank immediately after the offer has been accepted and inform them that your apartment has been sold. This way, your bank can start preparing banking matters related to the sale of the apartment. Your bank will receive the specific information about the transaction once the real estate agent has initiated the transaction via the DIAS system, but the handling of matters is often streamlined if you inform your bank about the upcoming transaction in time.
If the ownership of the object of the transaction has been demonstrated by a paper share certificate and it is not held by your bank as collateral for the loan, but by you, the real estate agent will need a copy of the share certificate to initiate the transaction. In addition, you must submit the share certificate to your own bank as part of the preparations for the transaction. Please contact your bank for delivery instructions and make sure that the real estate agent has a copy of the share certificate before delivering it to the bank. In such transactions, you should always contact your own bank as early as possible, as the bank cannot carry out its own inspection of the transaction until they have received the share certificate.
Preparation of your banking matters
Your bank will contact you about the upcoming DIAS transaction so that matters related to payment transactions, for example, can be prepared. Your bank cannot advance the transaction until you have agreed on the necessary matters with the bank.
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 of an individual transaction varies depending on the customer and the bank. The duration can be longer, for example, due to the restructuring of your loans.
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 buyer’s bank will pay the purchase price to your bank. Your bank will then pay any real estate agent's fee and take care of the repayment of any loans and transfer the purchase price to you. Payments are made on banking days according to when the signature phase has been completed and when the buyer’s bank has paid its own payments for the transaction (read more about processing times). If necessary, you can get information about the progress of payments from your real estate agent. In the DIAS transaction, ownership is transferred when the entire purchase price has been paid.
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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, the banks take care of the registration actions as part of the DIAS process. You can check the current owner 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.