Rules for the tender procedure

Time-restricted tender procedure

Move to section Non-time-restricted tender procedure Non-time-restricted tender procedure

General

(Updated on 2 November 2021)

The designated price for the object for sale has been set and defined together with the seller. The designated price for the object may be based on the estimated value calculated using a sum and value method, for example. Those considering making a purchase offer may request a possible forest property evaluation from the broker. The value of a property calculated using a sum and value method may comprise, for instance, the combined value of the forest stand and the ground and, if necessary, value adjustments. A price request for the object for sale can be based also on other realistic or professional evaluations by the broker. However, the market value of properties is often completely different from its calculated value.

The price request and starting price options in the tender procedure of Metsätilat.fi are set as to take into account the benefits to the seller and buyer, in accordance with the Act on Real Estate Brokerage and Leasing of Apartments (1074/2000), Section 7. The seller shall ascertain an appropriate market price for the object for sale, and the buyer can safely and effortlessly offer the price for the object in question that they are ready to pay and which reflects their evaluation of the object. Not displaying the sums of other potential offers to the buyer allows the buyer to make the offer that they themselves are ready to pay and which reflects their own evaluation of the object.

In the time-restricted tender procedure, each potential buyer has the opportunity to consider their offer up to the point when offers are no longer taken. This means that the procedure is a closed tender procedure where the offers received during tender period are delivered to the seller all at once only after the tender period has ended.

For more details, please contact the broker for the object for sale.

1. Offer options

1.1 Price request

The price request offer option means that a price request has been set for the object that reflects the seller’s wishes and the broker’s knowledge of the market. The price request is also affected by a recent forest property evaluation. This allows potential buyers to make an offer that reflects the set price request, exceeds the set price request or is lower than the set price request.

1.2 Starting price

The starting price offer option means that a starting price has been set for the object that reflects the seller’s wishes and the broker’s knowledge of the market. The starting price is also affected by a recent forest property evaluation. If the starting price offer option has been chosen, the broker has evaluated the object for sale together with the seller and determined that, with the prevailing market situation, the object is likely to receive better offers than the set starting price. Potential buyers can either make an offer that reflects the starting price or exceeds the set starting price.

2. Making an offer

An offer is made by filling in the electronic offer form on the Metsätilat.fi website.

3. Assistance for a person making an offer

Potential buyers can read the documentation for the object for sale through the Metsätilat.fi portal before submitting their offer. The documentation is available on the website also after the offer has been submitted. You can view the forest property evaluation by requesting it from the broker for the property in question.

4. Binding nature of the offer

A purchase offer submitted through the Metsätilat.fi website does not meet the requirements with regard to form as per the Code of Real Estate (540/1995), Chapter 2, Section 1, and is therefore not binding to the parties of the transaction with regard to an obligation related to following through with the sales transaction, down payment losses or the payment of contractual penalties. The purpose of the tender procedure is to set up a convenient procedure for buyers to make the offer that they want to for the object and for the seller to receive the best possible market price for the property that they are selling. If they so choose, the buyer and seller may agree that the purchase offer meets the requirements with regard to its form as per the Code of Real Estate, in which case the purchase offer is approved with a public purchase witness. In this case, the purchase offer constitutes a binding preliminary agreement of the parties. For more information regarding the preliminary agreement, please contact the broker for the object for sale.

However, submitted purchase offers are binding as per the of the Code of Real Estate, Chapter 2, Section 8. If a person who has submitted a purchase offer refuses to follow through with the property sales transaction under the terms laid out in their purchase offer, or if the seller refuses to sell the object to a buyer whose purchase offer they already accepted, the party responsible for refusing the sales transaction is obligated to compensate the reasonable costs incurring from marketing, property tours or other necessary action. If the person who made the purchase offer has, in relation to their accepted purchase offer, made a down payment, the payment is to be returned to the person who made purchase offer where it exceeds the abovementioned costs.

5. Terms of the offer

The buyer shall set a price for the offer that they are ready to pay for the object for sale that reflects their evaluation of the object. In addition, the buyer may add other central terms for the sales transaction to the purchase offer, in which case the purchase offer is conditional on the buyer’s part. However, terms used to automatically offer a set sum on top of the highest sum offered by another person may not be set.

6. Down payment

If the person who submitted the purchase offer requests a down payment procedure for the object, the buyer must submit the offer with down payment with the condition that the down payment is made only once the offer has been accepted. In this case, once the offer has been accepted, the down payment is made to a pooled account of the brokerage firm according to the broker’s instructions.

7. Validity of the offer

The buyer shall set the validity of the offer to at least 7 days of the receipt of the designated tender period.

8. Conveying the offers to seller

The broker for the object for sale shall display all the received purchase offers to the seller at the same time and without delay once the designated tender period has ended.

9. Accepting or rejecting an offer

The seller retains all rights to accept or reject any and all offers. The seller shall accept or reject the offer or make a counter offer before the validity of the submitted offer has ended. The seller retains the exclusive right to decide to whom they will sell the object for sale and at what cost and on which terms. The seller can also decide not to sell the object to any of the potential buyers.

10. Offers submitted by other potential buyers

Metsätilat.fi notifies on its website of open offers but does not reveal the sums offered or any other terms regarding previous offers.

11. Notifying the person making an offer

The broker for the object for sale shall inform the persons who made purchase offers regarding the sales situation of the object when the parties have made binding decisions as to the transaction. If the seller does not respond with regard to accepting or rejecting the purchase offer by the time set by the person who made the purchase offer, this shall automatically count as rejection of the purchase offer.

Non-time-restricted tender procedure

General

(Updated on 3 November 2021)

The brokers of Metsätilat.fi use two different offer options for brokerage objects offered through the Metsätilat.fi website, called price request and starting price, according to which the buyers can make their purchase offer. For both options, the buyer shall make a purchase offer that reflects their view as to the value of the object in question and that the buyer is ready to pay. The seller has selected the object’s offer option and the time-restricted tender procedure, in accordance with which the potential buyers can make offers for the object through the Metsätilat.fi website. The non-time-restricted tender procedure refers to a procedure where the broker for the object displays the purchase offers to the seller as they are submitted, and the seller can either accept or reject them or leave a counter offer at any point in time.

The designated price for the object for sale has been set and defined together with the seller. The designated price for the object may be based on the estimated value calculated using a sum and value method, for example. Those considering making a purchase offer may request a possible forest property evaluation from the broker. The value of a property calculated using a sum and value method may comprise, for instance, the combined value of the forest stand and the ground and, if necessary, value adjustments. The designated price for the object can be based also on other realistic or professional evaluations by the broker. However, the market value of properties is often completely different from its calculated value.

The price request and starting price options in the tender procedure of Metsätilat.fi are set as to take into account the benefits to the seller and buyer, in accordance with the Act on Real Estate Brokerage and Leasing of Apartments (1074/2000), Section 7. The seller shall ascertain an appropriate market price for the object for sale, and the buyer can safely and effortlessly offer the price for the object in question that they are ready to pay and that reflects their evaluation of the object. Not displaying the sums of other potential offers to the buyer allows the buyer to make the offer that they themselves are ready to pay and which reflects their own evaluation of the object.

For more details, please contact the broker for the object for sale.

1. Offer options

1.1 Price request

The price request offer option means that a price request has been set for the object that reflects the seller’s wishes and the broker’s knowledge of the market. The price request is also affected by a forest property evaluation. This allows potential buyers to make an offer that reflects the set price request, exceeds the set price request or is lower than the set price request.

1.2 Starting price

The starting price offer option means that a starting price has been set for the object that reflects the seller’s wishes and the broker’s knowledge of the market. The starting price is also affected by a forest property evaluation. If the starting price offer option has been chosen, the broker has evaluated the object for sale together with the seller and determined that, with the prevailing market situation, the object is likely to receive better offers than the set starting price. Potential buyers can either make an offer that reflects the starting price or exceeds the set starting price.

2. Making an offer

An offer is made by filling in the electronic offer form on the Metsätilat.fi website.

3. Assistance for a person making an offer

In accordance with the Act on Real Estate Brokerage and Leasing of Apartments (1074/2000), Sections 9 and 12, the broker for the object shall, if necessary, assist the person who made the purchase offer with all aspects that have to with making the offer. Potential buyers may at any time before and/or after submitting the offer directly contact the broker for the object for sale.

4. Binding nature of the offer

However, submitted purchase offers are binding as per the of the Code of Real Estate, Chapter 2, Section 8. If a person who has submitted a purchase offer refuses to follow through with the property sales transaction under the terms laid out in their purchase offer, the party responsible for refusing the sales transaction is obligated to compensate the reasonable costs incurring from marketing, property tours or other necessary action. If the person who made the purchase offer has, in relation to their accepted purchase offer, made a down payment, the payment is to be returned to the person who made purchase offer where it exceeds the abovementioned costs.

5. Terms of the offer

The buyer shall set a price for the offer that they are ready to pay for the object for sale and that reflects their evaluation of the object. In addition, the buyer may add other central terms for the sales transaction to the purchase offer, in which case the purchase offer is conditional on the buyer’s part. However, terms used to automatically offer a set sum on top of the highest sum offered by another person may not be set.

6. Down payment

A person who submitted a purchase offer may make a down payment to the pooled account of the brokerage firm according to the broker’s instructions, in which case the broker may not take offers from others unless the seller rejects the purchase offer. Once an offer with a down payment has been received, the object shall be excluded from marketing. If the seller rejects the offer, the down payment is to be returned in full to the person who submitted purchase offer, and marketing for the object shall continue.

7. Validity of the offer

The buyer shall set their desired period of validity for the offer. The recommended period of validity for the offer is 7 days. If there is no set period of validity for the offer, the offer shall be valid until further notice.

8. Conveying the offer to seller

The broker for the object shall display any received offers to the seller without delay.

9. Several purchase offers at the same time

Potential buyers will be notified about previously received open offers. In accordance with good brokerage practices, the broker shall not reveal the sum of the offer or any other terms to new potential buyers.

10. Accepting or rejecting an offer

The seller retains all rights to accept or reject any and all offers. The seller shall accept or reject the offer or make a counter offer before the validity of the submitted offer has ended. The seller can also make a counter offer. If the seller accepts the purchase offer, the broker shall not take new offers until the seller has rejected the accepted purchase offer. Once a purchase offer has been accepted, the object shall be removed from the Metsätilat.fi website. The seller retains the exclusive right to decide to whom they will sell the object for sale and at what cost and on which terms. The seller can also decide not to sell the object to any of the potential buyers.

11. New offer

The buyer may make a new offer once the seller has rejected their previous offer. If the seller has accepted the offer, the buyer may not make a new offer unless the seller rejects the previously accepted offer.

12. Offers submitted by other potential buyers

Metsätilat.fi notifies on its website of submitted open offers. However, the offers do not lay out sums or any other terms for the offers.

13. Notifying the person making an offer

If the seller accepts or rejects the offer or makes a counter offer, the broker for the object for sale shall notify the person who made the purchase offer without delay. If the seller does not respond with regard to accepting or rejecting the purchase offer by the time set by the person who made the purchase offer, this shall automatically count as rejection of the purchase offer.