Real Estate Consulting at an International or National Level?

How does real estate consulting differ on an international or national level?

From my experience, real estate consulting at an international or transnational level can differ significantly in the following ways:

In Denmark, the registration of property transfers can be carried out efficiently and very quickly. In practice, this means that the deed can be prepared, notified, and the transfer registered in the land register within a few days after the contract is signed.

This efficiency is primarily due to the fact that parties can sign digitally, and it is already agreed in the purchase contract that the parties will use their NEM-ID for signing land registry documents.

In practice, this leads to the following efficient process:

  • We draft a contract and send it to the parties for review.
  • Once both parties approve the draft, we upload the contract to domstol.dk/tinglysningsretten
  •  and prepare it for digital signing by the parties.
  • We ask the parties to sign the deed digitally online and simultaneously send them instructions for signing.
  • Each party logs into the land registry with their NEM-ID to access the documents ready for signing. The party then signs the deed using their NEM-ID. The signing process takes a maximum of 10 minutes from their own computer.
  • Once a party signs the deed, an automatic message is sent to the signer confirming that the deed has been signed and registered without any remarks, finalizing the transfer.

A prerequisite for using this efficient method is that the party must have a NEM-ID. To obtain a NEM-ID, the client must have a Danish personal identification number (CPR number) and reside or have previously resided in Denmark.

In my experience, international transactions can take several months to finalize, as the registration of property transfers without remarks can be significantly delayed.

It is worth noting that it is not possible to use NEM-ID for individuals residing outside Denmark or in other countries. As a result, the party(ies) cannot utilize the digital land registry system.

The land registry in Denmark requires the submission of original, signed documents. This means that the original documents must be physically signed by both parties, and the signed originals must be sent by post to my office.

Once we receive the signed documents by post, we check them for errors, bearing in mind that the land registry does not tolerate mistakes. If the documents are error-free, we forward the original documents by post to the land registry.

The postal process is lengthy and carries a significant risk of delays or the documents not arriving at all.

For this reason, I recommend that my client authorizes me with a power of attorney. The registration power of attorney allows me to handle all matters related to the registration, including preparing, delivering, and signing the deed.

This means I can sign the deed digitally on behalf of my client using the NEM-ID. This approach ensures the registration is completed efficiently and quickly, avoiding the risks of delays or losses associated with postal mail.

Kind regards,
Anders Stig Vestergaard (H)

Send me a message

If you have any questions or need help, you can always call me on +45 8613 0600 or write to me using the contact form. A request costs nothing. We look forward to meet you.

Latest posts

The lawsuit

The lawsuit

The lawsuit 1. Enquiry and legal assessment If you want to obtain judgement for a claim or you...

Address

c/o Advokaterne Sankt Knuds Torv P/S
Ryesgade 31
8000 Aarhus C
Denmark

Opening hours

Monday – Thursday
09:00 – 16:00

Friday
09:00 – 15:00

© Copyright – Anders Stig Vestergaard