The property due diligence process in Latvia — the legal and technical checks a buyer should perform before committing to purchase immovable property.
Due diligence (pienācīga pārbaude) before a Latvian property purchase involves legal, technical, and financial investigations. While not legally required, it is essential to identify risks that could affect value, use, or the ability to complete the transaction.
Legal due diligence covers: verifying title by checking the Zemesgrāmata for the correct owner and any encumbrances; checking for court proceedings or insolvency involving the seller; verifying planning permissions; and confirming utility connections and their legal status.
Technical due diligence involves a building survey to assess structural condition, identify defects, check compliance with building regulations, and confirm that all construction has been properly registered with the kadastrs. In Latvia, unregistered extensions are common and can be costly to regularise.
Financial due diligence includes checking for outstanding property tax (nekustamā īpašuma nodoklis), utility arrears, and any charges or obligations running with the land such as easements or co-ownership agreements.
For apartment purchases, due diligence should also include reviewing the building management company's accounts, checking for outstanding repair fund contributions, and reviewing the minutes of residents' meetings for planned major works.
Legal checks on a straightforward residential property can be completed in three to five working days. A full building survey adds another week. Allow two weeks in total before exchange.
The buyer pays for their own due diligence. Costs include legal fees, survey fees, Zemesgrāmata extract fees, and any specialist reports.
You can renegotiate the price, require the seller to remedy the defect before completion, or withdraw from the preliminary agreement. Whether you can withdraw without penalty depends on the terms agreed.
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