Reservation contract is made between the buyer and the seller. This contract requires a 2,5% payment of the apartment price. Only the reservation contract can fully book the apartment for you.
During the construction, apartments can be modified upon an agreement to the seller. These changes will be included and agreed in the legal debt agreement.
LEGAL RESERVATION AGREEMENT
Legal reservation agreement requires a 20% payment of the apartment price. This legal contract is made at a notary office and the sales agreements will be determined upon this contract. First legal debt agreements can be made in November 2015.
FINAL PURCHASE AGREEMENT
The final purchase agreement is made at the notary office when the project is finished and is ready to be given over to the buyer. There will be the transfer of ownership of the apartment in this contract and requires the final 77,5% payment. Final purchase agreements are planned at the end of 2016 or at the quarter one of 2017.
If you want to purchase living quarters for business purposes, read more about the related tax issues on the website of the Estonian Tax and Customs Board.