Terms of reservation

Kalaranna 21, 23, 25, 27, 29

Reservation fee means that the reservation made on an apartment becomes effective after the reservation fee (down payment) is received in the bank account of AS YIT Eesti. Apartments will be reserved in the order of receipt of reservation fees.

The reservation fee is 5,000 (five thousand) euros per apartment and must be deposited on the bank account of the seller AS YIT Eesti No. EE941700017000335069 in Luminor Bank AS – write in the explanation field: “Reservation fee, number of the apartment you reserve”. One buyer can reserve no more than 2 (two) apartments.

Apartments are reserved for up to 14 calendar days starting from the moment the reservation fee is received in the seller’s bank account. Once the reservation enters into force, a reservation confirmation is sent to the e-mail address disclosed by the buyer and this e-mail also marks the start of negotiations regarding entry into a sales contract under the law of obligations. A reservation confirmation does not require the buyer to enter into a sales contract for the reserved property or acquire the reserved property.

The reservation fee is deemed a part of the down payment of the purchase price paid by the buyer upon entry into a sales contract under the law of obligations. If the seller and buyer do not enter into a sales contract for the reserved apartment for any reason within 14 calendar days after the reservation confirmation, the seller is entitled to unilaterally terminate the reservation. The seller will send the buyer a corresponding notice on the termination of the reservation and will return the reservation fee to the buyer no later than within 5 (five) banking days after sending the notice on the termination of the reservation. The negotiations are deemed over from the moment the seller transfers the reservation fee back to the buyer and the seller has the right to dispose of the above apartment at their discretion.

The buyer has the right to withdraw from the purchase request and reservation of the apartment at any time before entry into a sales contract under the law of obligations by sending a corresponding notice to the seller in a format that can be reproduced in writing. In such a case, the seller undertakes to return the reservation fee to the buyer no later than within 5 (five) banking days after receiving such notice.

No interest is charged on the reservation fee and the seller is not required to pay any such interest for the period from the payment of the reservation fee until its return to the buyer. By depositing the reservation fee in the seller’s account, the buyer gives their consent to the seller to transfer the reservation fee back to the account from which the transfer to the seller’s account was made.

The developer has the right to change the prices of the unsold apartments.