FAQ on selling a plot – frequently asked questions and answers
Selling a plot often raises many questions. How is the price determined? What does a preliminary agreement actually mean? And what happens to the old house on the plot? In this article, you’ll find answers to these and many other common questions. We have compiled a comprehensive FAQ list that addresses the most typical concerns and practical matters related to selling a plot. Our aim is to provide clear and easy-to-understand information so you can make the right decisions about selling your land at your own pace.
At Olas, transparency and thoroughness guide every step of the plot sales process. If you still have questions, you can always contact us. We are here to make the process as smooth and clear as possible for all parties.
What is the market price or the right price for a plot?
There is no single answer, as many factors affect the value of a plot. Location is one of the most significant. In sought-after areas, plots are more valuable because homebuyers are willing to pay for comprehensive services, good transport connections, peace, and privacy. Soil conditions, elevation differences, and topography also affect building costs and therefore the value of the plot. In addition, the prices and supply of new homes in the area influence how the final value is formed. Based on these factors, it is possible to estimate the future sale prices of homes, which must cover both the plot and construction costs.
You can find more information on pricing and its factors in our blog.
What kind of houses do you build on plots?
We build comfortable and high-quality geothermal homes from Nordic wood in prime locations. Our homes are characterized by geothermal heating, the use of Nordic wood as a building material, large windows, high ceilings, private yards, and the possibility to influence the colors, surface materials, and fixed furnishings. We build detached, semi-detached, and terraced houses to suit different families and life situations. Our design principle is to create homes where we ourselves would want to live.
What kind of houses have you built before?
We have completed a wide variety of projects in the past, which you can explore on our website. In each project, our goal has been to deliver high-quality, well-designed homes that stand the test of time and offer residents a pleasant living environment. You can explore our previous construction projects here.
What is the company’s background and history?
Since its founding in 2017, Olas has steadily grown into one of the leading builders of single-family homes in the Helsinki metropolitan area. Financially, we are among the strongest in the sector: revenue in 2023 was 17.7 million €, and our credit rating is the highest possible, AAA. Olas aims to reach 100 million€ in revenue by 2028.
Our growth is based on three key factors: skilled and satisfied employees, happy customers, and a strong financial foundation. Proof of this stable growth includes our market leader position, high employee satisfaction (eNPS 81), high customer satisfaction (NPS 66), and the top AAA credit rating. You can read more about us and our story here.
How likely is a preliminary agreement to lead to a final sale?
We only make preliminary agreements for plots we intend to develop. We thoroughly examine the plot and its characteristics before making the agreement to avoid surprises later.
When is the money paid?
The seller is paid once the final deed of sale is signed. This typically happens at the final stage of the transaction, when all conditions have been met and the sale can be formally completed.
Does the house need to be emptied of belongings?
You don’t need to completely empty the house. It’s enough to take your most important belongings. We will take care of the rest, as the house will be demolished as part of the construction process.
What does a preliminary agreement mean?
A preliminary agreement sets out the terms of the future property transaction between both parties. During this time, the buyer applies for a building permit and makes other necessary preparations to start the project. This also gives the seller time to prepare for moving, clear out important belongings, and find a new home. The preliminary agreement is therefore an important step that ensures both parties can prepare for the changes ahead.
Who pays the property tax?
The buyer is responsible for property tax and other plot-related costs once the final property transaction has been completed.
How can we be sure if the soil is contaminated?
If there is a risk of contaminated soil, this is usually known before the sale. If not, the issue typically becomes clear during groundwork when the plot is being prepared for construction.
Can part of the plot be kept by the seller?
It is possible, but often not practical. In many cases, the old house is located in the middle of the plot, which makes dividing and splitting the land difficult from a new construction perspective. In addition, taxation reasons may make partial sales less profitable. However, it is possible to negotiate solutions that serve both parties.
Why is there a building permit condition in the preliminary agreement?
We only acquire plots for building purposes. If a building permit cannot be granted, the plot cannot be used for our intended plans. The building permit condition ensures the plot is suitable for the purpose for which it is being purchased.
How long does it take to meet the conditions?
Obtaining a building permit and meeting other conditions typically takes 6–12 months. After this, the sale can be completed and construction can begin.
How quickly must the plot be vacated?
This is agreed with the seller. The goal is to find a solution that suits the schedules of both the seller and the buyer.
Contact us
Aapo Klasila
Land Acquisition Manager
puh. 040 541 6518
aapo.klasila@olas.fi
Mikko Rehu
Land Acquisition Manager
puh. 050 501 4336
mikko.rehu@olas.fi
