In a DIAS transaction, the deed of sale is drawn up and signed digitally in the DIAS service. Once the deed of sale has been sent to DIAS and the preparation of the sale begins, the content of the deed of sale can no longer be modified.
For the transaction to proceed in the system, all transaction information must be correct and match the information entered in the agency system. The formatting of the deed of sale must also be suitable for a DIAS transaction. They must not conflict with the progress of the digital transaction.
The parties to the transaction should check the deed of sale already before the real estate agent sends the transaction to DIAS. The content of the deed of sale is checked by the banks during the preparation phase, and if any information needs to be corrected, a change request is made for the deed of sale, and the transaction must be restarted with the corrected information.
One in three DIAS transactions needs to be corrected before it can proceed to the signing phase. The most common reason for a change request is an error in the deed of sale.
Instructions for drawing up the deed of sale and appendices to the transaction
Under the headings below, we have compiled instructions and wordings that we recommend checking when preparing and reviewing the deed of sale. Click on the headings for more information.
The deed of sale for the DIAS transaction must include the following information:
- The transfer of ownership is tied to the payment of the purchase price. In DIAS transactions, the purchase price is paid in one installment and ownership is transferred after the payment of the purchase price.
- The deed of sale includes a reference to how ownership is transferred after the payment of the purchase price (share certificate or electronic registration of ownership).
We recommend adding an identifier of the group of shares to the deed of sale whenever the housing company’s share register has been transferred to the National Land Survey of Finland’s Residential and Commercial Property Information System and the ownership of the property is demonstrated either by a paper share certificate or electronic registration of ownership.
| Transaction type | Appendices | Please note |
|---|---|---|
| Paper share certificate |
| A copy of the share certificate is only required as an appendix to the transaction if the share certificate is available (held by the seller). |
| Electronic registration of ownership |
| The residential and commercial property extract must always be dated on the day the transaction is initiated. |
| Estate as the seller | In addition to the mandatory appendices for a paper share certificate or an electronic registration of ownership:
| The estate inventory deed is always a mandatory appendix when the seller is an estate. Even if the estate has a register of estate shareholders certified by the Digital and Population Data Services Agency (DVV), the estate inventory deed must still be attached as an appendix to the DIAS transaction. We recommend confirming the need for any other appendices related to the estate directly with the banks. |
| Company as a party to the transaction | In addition to the mandatory appendices for a paper share certificate or an electronic registration of ownership:
| The Trade Register extract must be no more than three months old. Minutes are required if:
|
| Other appendices that may be required |
| The building manager's certificate is an optional but recommended appendix. If required, the spousal consent is attached as a PDF file. |
Technical requirements for the appendices
The file must be in PDF format.
The file name may contain letters, numbers, underscore (_), period (.), comma (,), hyphen (-) and space ( ).
Each appendix must have a unique name.
The maximum file size is 20 MiB.
The file must not be copy-protected or password-protected.
The file must not contain digital signatures.
The file must not contain form buttons.
Who can see the appendices to the transaction?
- A copy of the share certificate added by a real estate agent is only shown to the banks involved in the transaction.
- The documents of an estate are only shown to the banks involved in the transaction.
- Other appendices added by the real estate agent are shown both to the banks and to the parties to the transaction.
Phrases that the deed of sale must not include
Before submitting the deed of sale to DIAS, it is important to ensure that there are no phrases or entries in the deed of sale that are not compatible with the DIAS transaction process. Below is a list of the most common items that must not be on the deed of sale, as they can lead to requests for changes to the deed of sale and delay the processing of the transaction.
⚠️ References to a meeting at the office or a physical event (e.g. signature sections) for concluding the transaction
⚠️ The exact date of the transaction, as it is not agreed in advance in a DIAS transaction
⚠️ Mentions of acknowledgements related to payments, such as the payment will be confirmed as received with the signatures of the deed of sale
⚠️ Mentions that conflict with the DIAS transaction process, such as the buyer will pay the transfer tax or regarding a transaction paid in installments (in DIAS transactions, the buyer’s bank always pays the transfer tax and transactions paid in installments are not possible in DIAS).
The deed of sale must always be in PDF format, but the file must not be:
⚠️ signed digitally
⚠️ copy-protected or password protected
Phrasing examples
The phrasing examples below are English translations of Finnish-language sample clauses intended to facilitate the preparation of the deed of sale. They are provided for illustrative purposes only, and their use is entirely voluntary. The real estate agent draws up the deed of sale and is responsible for its content.
If you wish, you can add a clear description of the use of the DIAS service and the digital signing and authorization process to the deed of sale. The description helps the reader of the deed of sale to understand the transaction process if the agreement is read afterwards.
The description can be added immediately at the beginning of the deed of sale as a separate information clause, in which the signature process is defined as follows, for example:
DIAS – digital housing transaction
The housing transaction under this deed of sale will be carried out digitally using the DIAS service. A digital housing transaction takes place in stages and the transaction begins with the buyer and seller signing the deed of sale in the DIAS service (hereinafter referred to as the “signing process”). As part of the signing process, the buyer and seller grant the necessary authorizations to their banks to execute the housing transaction under this deed of sale.
In DIAS transactions, the purchase price is paid in one installment. Example phrase of the payment term:
The entire purchase price will be paid in one installment after the signing of the deed of sale.
Example phrase for a payment term with a “by” date:
The entire purchase price will be paid in one installment after both the seller and the buyer have signed and approved this deed of sale in the DIAS service. In addition, the parties have agreed that the purchase price shall be paid by dd.mm.yyyy at the latest.
Example phrase for a payment term when a deposit has been paid to the real estate agency's trust account:
A deposit of EUR X has been paid for the object of the transaction, which was paid to the real estate agency's trust account on dd.mm.yyyy. Upon completion of the transaction, the deposit will be taken into account as part of the purchase price, and the remainder of the purchase price, which is the difference between the purchase price and the deposit, EUR Y is paid after the buyer and seller have signed this deed of sale in the DIAS service.
In DIAS transactions, the transfer of ownership is always tied to the payment of the purchase price. Example phrase for transfer of ownership:
Ownership of the object of the transaction is transferred to the buyer when the purchase price has been paid in full.
Select an example phrase for the transfer of ownership based on whether the housing company's share register has been transferred to the Residential and Commercial Property Information System and whether the ownership of the property is demonstrated by a paper share certificate or electronic registration of ownership.
Transaction involving a share certificate transitioning to electronic registration of ownership, a paper share certificate
The share certificate with the transfer entry will be delivered to the National Land Survey of Finland after payments have been made in accordance with the authorizations given in the signing process. The share certificate with the transfer entry serves as the seller’s consent to the registration of ownership in the buyer’s name in the National Land Survey of Finland’s Residential and Commercial Property Information System.
The buyer is aware that they must apply for the registration of their right of ownership in the Residential and Commercial Property Information System from the National Land Survey of Finland within two months of the signing of the deed of sale. At the same time, the paper share certificate will be cancelled by the National Land Survey of Finland. In a DIAS transaction, the buyer’s bank is the buyer's agent for the registration of ownership.
Paper share certificate, housing company not yet in the Commercial Property Information System
The share certificate with the transfer entry will be delivered to the buyer's bank after the signing in accordance with the authorizations given in the signing process.
Electronic registration of ownership
The seller has an electronic registration of ownership in the Commercial Property Information System for the object of the transaction. The seller consents to the registration of ownership in connection with the signing of this deed of sale.
The buyer is aware that after the transaction, the buyer must apply for the registration of their right of ownership from the National Land Survey of Finland. In a DIAS transaction, the buyer’s bank is the buyer's agent for the registration of ownership.
The buyer is always responsible for the transfer tax, but in a DIAS transaction, the transfer tax is paid by the buyer's bank in accordance with the authorizations. Example phrase for the payment of transfer tax:
The buyer is responsible for the transfer tax of EUR [xxxx] arising from this transaction. The tax shall be paid by the buyer's bank based on the authorizations given during the signing of this deed of sale.
Example phrase for the signing and approval a digital deed of sale:
We accept this deed of sale with our signatures and commit to complying with it. This deed of sale has been drawn up and signed digitally.
We recommend not adding separate sections for physical signatures to the deed of sale. Signature stamps are created by the system on the deed of sale signed in DIAS.