Buying Property in Norway

There is no restriction for foreigners to buy property in Norway. However, the first step for a foreigner to purchase a property is to get a “D” number which gives the buyer an identity in the country. This is obtained from the Population Register that is located in the vicinity of the property that the foreigner wishes to purchase. This number is issued to the foreigner after he/she submits the required documents.

The easiest way to proceed with a purchase is via an estate agent. After the buyer chooses a property, he approaches the seller. Once a selling price has been settled upon, a contract is set up which contains all clauses of agreement and also contingencies between the 2 parties. These include the course of action to be taken in case of the breach of contract by either of the parties.

Once both the parties sign the contract, a deed is issued to the buyer who makes an initial payment which is a percentage of the total cost (usually 10%). This deed is not transferred till the remaining steps are complete. There is also no need of a notary or an attorney to complete the registration process. The documents are sent to the Land Registry by post. These details are registered in a daily book. This is followed by the all the relevant information being entered in the database. Then the information is passed on to the relevant department for verification. This verification process is completed within 3 days and an official paper acknowledging the verification and registration is sent out. This document also states the name of the new property owner.

The responsibility of the stamp duty and the payments of any other fees to a third party, if involved in the process, lies on the buyer. After this document is received is also when he/she is liable to making the remaining payment to the seller and closing the deal. This is the last step in the purchase.