Buying a house in Denmark - consequences

1POSTS

9 years ago

Hello everyone,

I currently live in the Billund kommune with my husband. We are both immigrants, but have good stable jobs and we both have work visas. We are looking to buy a house somewhere around this area, but we have one question we haven't been able to answer: If, by some chance, we buy a house and X number of years later we have to leave Denmark for [reason].

What are the rules about selling the house? Do we have a certain amount of time to sell it? What happens to us and the loan if we don't manage to sell it?

Anyone have any insight on this?

Edit: Our goal is to stay in Denmark as long as we can - but we can't foresee any possible changes that would force us to leave.

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Nellie Berg Denmark Expert

1161POSTS

9 years ago

Indeed, something to consider thoroughly.

The rules of buying a property:
http://um.dk/en/travel-and-residence/fa … n-denmark/http://www.robinhus.dk/fakta/foreign-buyers.asp
(another property portal than mentioned here is Boliga.dk which is independant. It is equal to boligsiden.dk which is owned by the real estate agents).

I understand the rules so that there are only some requirements for buying a property, not for selling it again. When said, most municipalities demand that the houses are inhabited (residency obligation). A few ones as Billund don't have these restrictions.
http://www.nellemose.dk/bopaelpligt.htm
Under all circumstances, if you put your property for sale when leaving, it will be no problem in relation to the authorities if it isn't sold for some time. I don't know the average time for selling a house in Billund, but take a look at boliga.dk where you can find such and other very useful information.

There will be some expences to pay when you buy and again when you sell. The latter expences will be the biggest ones. Do count with 3-5% to the estate agent when selling.

If you want to buy a property, you should start to see your bank and ask for a credit rating. The bank will then figure out what will be a realistic purchase in your case and tell you how much you will be able to loan. This advice is free for charge as the banker isn't independent, but the bank's man. But loans will be a special chapter as loans from the credit associations may give you better conditions. A labyrinth of several possibilities.

I would also see the real estate agents and get some sales presentations. This will give you an impression of the running costs, and do remember to have a look at the energy label as a 'cheap' house may be more expensive if we take this into consideration too.

/Nellie