Comprehensive remote real estate transaction management

Stages

Remote communication channels

Obtaining initial information about the property and selection process

We’ll carry out a free-of-charge selection process and an initial property analysis for you; we’ll digitally prepare all obtainable information and send it through a communications channel that is most convenient for you.

Delivery of initial information	Email, telephone, WhatsApp, Viber, Telegram, Facebook Messenger and other channels.
Signing a confidentiality agreement	Use an electronic signature and send by email, or sign by hand and send by mail or courier. Another alternative is to sign the document through your representative acting on the basis of a power of attorney certified by a notary at your place of residence.
Consultation about the property and discussion of options	Conference call using WhatsApp, Zoom, Teams or other services.

Site visit and inspection

Modern technology and communications methods allow for a remote inspection of a property, at a time and in a format that is convenient for you.

Due Diligence

Property audit, including analysis of real profit, expected returns and reliability. If necessary — attracting additional experts.

Due Diligence (legal, financial)	Sharing documents through a file-sharing service (for example, Dropbox); findings report — sent by email and by post or courier should
Due Diligence (technical)	Onsite inspection by a local third-party engineering expert; an expert report on findings — sent by email and by post or courier should an original copy be needed.

Opening of a bank account, registration of a company

In order to complete a transaction, you will need to open an account in a Latvian bank.

Identity verification	Depending on the requirements of each particular bank, this is done either at a bank’s representative office or at a notary, depending on your location.
Proof of source of funds	Depending on the requirements of each particular bank, this is done either at a bank’s representative office or at a notary, depending on your location. The documents can be sent by email or by mail or courier should the original copy be needed.
Registering a company	All the documents are prepared by lawyers appointed by power of attorney; documents are signed using electronic signature and submitted to the Enterprise Register through the www.latvija.lv portal — by your representative acting on the basis of a power of attorney certified by a notary at your place of residence.

Preparation and signing of agreements

Communication between the parties, negotiating	Conference calls using WhatsApp, Zoom, Teams and other services; exchanging emails and using other communications channels.
Signing of agreements and any other type of documents	Use an electronic signature and send by email, or sign by hand and send by mail or courier. Another alternative is to sign the document through your representative on the basis of a power of attorney certified by a notary at your place of residence.

Concluding a transaction and registration in Land Registry

Signing of documents for registration in Land Registry	Sign the documents using your electronic signature through the DigiNotars online tool, or through your representative acting on the basis of a power of attorney certified by a notary at your place of residence.
Signing of Escrow account agreement and opening of an Escrow account	Sign the documents using your electronic signature or through your representative acting on the basis of a power of attorney certified by a notary at your place of residence.
Submission of documents to Riga City Council for renunciation of the pre-emption right and for permission to purchase land by a foreigner	The signed documents are sent by mail or courier. If signed using your electronic signature, the documents can be sent by email.
Money transfer from the buyer’s account to the Escrow account	Online bank payments.
Submission of documents to the Land Registry	Send by mail or submit online through the Land Registry website; it can also be done personally by your representative acting on the basis of a power of attorney certified by a notary at your place of residence.
Submission of documents to the Enterprise Register	Submission can be done online through the Enterprise Register website under the established procedure and/or send the documents by mail or courier.
Proof of property rights transfer	Via online access to the Land Registry of Latvia or by email.

Post-purchase support services

Property management and maintenance	Carried out by a local management company of our recommendation.
Accounting and legal services	We can recommend a choice of companies that offer such services.

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