Frequently Asked Questions
Answers to the most important questions about property sales
How long does it take to sell an apartment in Riga?
On average, selling an apartment in Riga takes 1-3 months. This includes time for listing, finding potential buyers, viewings, and closing the deal. Time may vary depending on price, location, and market conditions. With professional agent help, the process often goes faster.
Can I sell an apartment with a mortgage?
Yes, you can sell an apartment with a mortgage. Usually on the transaction day, the remaining mortgage debt is paid from the purchase price, and the balance is paid to the seller. You need to coordinate the process with the bank and ensure the buyer is informed about the mortgage.
How much do real estate agent services cost?
Standard agent commission in Latvia is 3-5% of the sales price. The fee may vary depending on property type, price, and transaction complexity. Commission is usually paid by the seller and deducted from the sales amount on the transaction day.
Is a notary required for apartment sale?
Yes, in Latvia, real estate purchase agreements must be notarized. The notary checks documents, ensures transaction legality, and registers property ownership transfer in the land register.
What documents are needed for real estate sale?
For real estate sale you only need a passport, provided that the property has no encumbrances and the buyer purchases the real estate with their own funds. There are no specific documents required for real estate sale, usually documents are collected as much as possible depending on the property type and potential buyers' needs. The more documents available, the easier it is to sell the property and create buyer confidence.
How to determine the right price for real estate?
The right price is determined by analyzing similar sold properties in the area (comparative valuation), considering property condition, location, area, and amenities. It's recommended to order professional valuation from a certified appraiser. An agent can help determine a competitive price based on market analysis.
How long is a valuation valid?
Real estate valuation is usually valid for 6-12 months. After this period, market conditions may have changed and a new valuation is needed. Banks require valuations not older than 3-6 months for mortgages.
Can I sell a house with debts?
You can sell property with debts, from January 1, 2026 these debts remain on the property and transfer to the new owner, so this must be agreed with the buyer.
Can the agent help with documents?
Yes, a professional real estate agent helps arrange all necessary documents: land register extract, valuation, energy efficiency certificate. The agent also coordinates cooperation with the notary, appraiser, and other specialists, facilitating the sales process.
How much does a land register extract cost?
Land register extract costs 5.20 EUR per property. The extract can be ordered online in the Land Register Information System or in person at the Land Register department. The extract is prepared immediately. For the property owner, this land register extract is free.
Can I sell an apartment remotely?
Yes, you can use a notarized power of attorney for a representative in Latvia who will sign documents on your behalf. Alternatively, you can use electronically signed documents with secure electronic signature and e-visit with one of the notaries.
How to prepare a house for viewing?
House preparation for viewing: 1) Clean the entire house thoroughly, 2) Tidy up the yard and facade, 3) Make small fixes (paint walls, fix minor things), 4) Remove personal items, 5) Ensure good lighting, 6) Remove pets during viewing. First impression is very important!