Foreclosed apartment share (2-room + kitchen), Karhuvuori, Kotka, Kotka

Specific terms of sale

How to submit bids

The property is sold by incremental bids in an online auction on the www.huutokaupat.com website during the period 20 May – 10 June 2026. Participation in the auction requires registration. The deadline for submitting bids ends on 10 June 2026 at 13:00 or three minutes after the last accepted bid.

Bids are made on the purchase price, which does not include the apartment’s share of the company loan or any service charge arrears payable by the buyer.

The Enforcement Authority is not responsible for the functionality of the service provider’s system. The highest bid is the one the service provider’s system has accepted as highest. The enforcement officer will decide separately whether to accept or reject the highest bid.

The enforcement authority reserves the right to end the sale or to extend the sale period by decision of the enforcement officer at the creditor’s request.

Bids submitted in the online auction are binding. If a bid is accepted, the bidder is obliged to pay the offered purchase price within the agreed payment period. Failure to pay the offered purchase price may result in the buyer’s liability for compensation under Chapter 5, Section 25 of the Enforcement Code. The buyer must then compensate the difference if the highest bid in a subsequent sale is lower than the previous highest bid plus the interest referred to in Chapter 5, Section 24(2) of the Enforcement Code. If a bid is raised above that level, the buyer has no right to any surplus. The buyer must also compensate the costs of the later sale, unless they can be covered from the surplus. The enforcement officer shall recover the said compensation from the deposit or other assets of the buyer if reasonably possible. Otherwise the compensation will be collected later by decision of the enforcement officer at the creditor’s request.

If it is not possible to submit purchase bids via the Huutokaupat.com service, a prospective buyer may submit a written purchase bid to the enforcement authority, which will be attached to the online auction as a maximum bid in accordance with the automatic increase feature. The written bid must be signed and must state the bidder’s contact details, the maximum bid amount and the Huutokaupat.com lot number to which the bid relates. A written purchase bid is binding and the same conditions apply as in the online auction. The bid must be submitted no later than 4 June 2026 at 12:00 to the mailbox in the lobby of the Enforcement Authority’s Kotka office, address Vuorikatu 5 C, 48100 Kotka, or by e‑mail to kouvola.realisointi.uo@oikeus.fi.

Payment terms

Deposit

If the highest bid is accepted, the buyer must immediately pay a deposit of 20% of the purchase price into the Enforcement Authority’s official account. The deposit cannot be paid by credit card. The Enforcement Authority will contact the highest bidder whose bid has been accepted. The highest bidder must state on whose behalf the bid was made. Otherwise the highest bidder will be regarded as the buyer.

Payment period

A payment period may be granted for the remainder of the purchase price until 1 July 2026. The payment period must be agreed separately. If a payment period is used, annual interest pursuant to section 3 of the Interest Act is payable on the entire purchase price for the agreed payment period from the date of sale until the end of the payment period. If no payment period is used, the purchase price must be paid immediately after the acceptance of the bid.

If payment is not made within the specified time, the buyer must pay default interest in accordance with section 4(1) of the Interest Act on the entire purchase price until the purchase price is paid or a new sale has taken place. The current default interest rate is 9.50%.

Obligations and rights transferred to the buyer

The apartment has been taken into the company’s control for three years by a shareholders’ meeting decision made on 12 December 2023, effective from 28 February 2024 and ending on 28 February 2027 (not currently rented, apartment is vacant). According to the housing company, the apartment may be released from company control when all arrears have been paid.

The new owner has the right under the Housing Companies Act to take possession of the apartment before the end of the control period if the buyer pays the costs caused by taking the apartment into company control, any repair costs to the company caused by the apartment, unpaid service charges and any service charge amounts that become due while the apartment is under company control.

According to the property manager, the buyer’s current liability is €5,857.10 as at 18 May 2026. At the time of transfer of the shares’ control/ownership, the service charge arrears, fees and costs referred to above plus default interest may be higher than stated. The above receivables will remain the buyer’s responsibility and will not be paid from the purchase price.

Apartment’s share of company loan

In addition to the cash purchase price, the buyer will also assume the apartment’s share of the housing company loan of €3,211.00 as at 31 March 2026. The loan share remains payable by the buyer and will not be paid from the purchase price.

The buyer must take care of obligations related to the apartment that are their responsibility towards the housing company. Bids in the online auction should be made taking these matters into account.

Other information

The property is attached and will be sold by free sale conducted by the enforcement officer, observing where applicable the general auction terms laid down in the Enforcement Code. The sales brochure is indicative and is not a comprehensive description of the lot.

Buyers are urged to carefully inspect the lot, the sales brochure and the attached documents before submitting a bid.