Won the bidding on a Swedish home at SEK 3.2 million? Not yours yet
A SEK 3.2 million bid binds neither you nor the seller until the contract is signed. The seller can pick a lower bid, and you can walk away.
You have bid SEK 3,200,000 and the estate agent calls to say you won. Yet nothing is settled. In Sweden a bid binds nobody, neither you nor the seller, until you have both signed a purchase contract. Here is what that means and how to protect yourself.
Why the bid does not bind
The law requires a written contract to buy a home.
- For a house, the Land Code ("jordabalken") says the sale is made through a deed of purchase signed by the seller and the buyer. It must state the price and that the seller transfers the property. A sale that does not meet these requirements is void.
- For a co-op flat ("bostadsrätt"), the Housing Cooperatives Act says the agreement must be in writing and signed by the seller and the buyer. It must name the flat and the price. Otherwise the transfer is void.
A bid by email, text message or a bidding service does not meet those requirements. The Swedish Estate Agents Inspectorate ("Fastighetsmäklarinspektionen") states that a bid is not binding on anyone, even when it is made in writing.
What that means for you
You can withdraw your bid. Anyone taking part in a bidding round can always take back their bid before the contract is signed.
The seller can choose someone else. The seller decides who may buy, at what price and when. The seller does not have to sell to the highest bidder. A lower bid can win if, for example, its handover date suits the seller better.
Bidding stays open until the contract is signed. The agent must pass every bid to the seller right up to the signing. A new bid that arrives after you were told you won must also go to the seller.
The agent keeps a list of bids
The Estate Agents Act requires the agent to keep a list of all bids ("budgivningslista"). It must contain each bidder's name, contact details, the amount, the time and any conditions.
If a sale goes through, both the buyer and the seller get the list when the assignment ends. You can then see how the bidding went.
You can attach conditions to a bid
A bid can come with conditions. For example, you can say the bid is valid only until a certain time. The seller decides how the condition affects the bidding.
The example: a bid of SEK 3,200,000
Until 1 April 2026 the mortgage may be at most 85% of the price under the loan-to-value cap ("bolånetak"). On 4 March 2026 parliament decided to raise the cap to 90% from that day.
- At 85%: a mortgage of SEK 2,720,000 and a down payment ("kontantinsats") of SEK 480,000.
- At 90%: a mortgage of SEK 2,880,000 and a down payment of SEK 320,000.
If your pre-approval ("lånelöfte") is for SEK 2,600,000, it is not enough in either case. If you bid anyway, you risk winning a bidding round you cannot pay for.
Work out your maximum bid before the bidding starts. The bidding chapter of the real estate crash course walks through a bidding round step by step.
When you sign
The signatures make the purchase binding. For a house, the purchase contract is in itself a binding agreement. For a co-op flat, the agreement applies once it is signed in valid form, and it is completed when you become a member of the association.
Before you sign:
- Read the whole contract. Ask the agent to explain any terms in the seller's favour, such as the seller disclaiming liability for defects.
- Check terms that let you cancel the purchase, such as an inspection clause. Know what they allow and for how long.
- Make sure the bank has approved the loan for this particular home.
- Find out how large the deposit ("handpenning") is and when it is due.
Changing your mind after you sign can be expensive. That is why the time before signing matters most.
If the seller picks someone else
It is frustrating, but legal. The only protection is to keep looking, and keep other viewings booked, until the contract is signed.
Sources
- Fastighetsmäklarinspektionen: Bidding (Swedish)
- Fastighetsmäklarinspektionen: Signing the contract (Swedish)
- Land Code (1970:994), chapter 4 section 1 (Swedish)
- Housing Cooperatives Act (1991:614), chapter 6 sections 4 and 5 (Swedish)
- Estate Agents Act (2021:516), chapter 3 section 18 (Swedish)
- Riksdag: Finance Committee report 2025/26:FiU36 on the new mortgage rules (Swedish)
This content is general information, not financial or legal advice. Bolån Radar collects data from banks and authorities and cannot guarantee that it is complete or free of errors. Talk to your bank or an adviser before you decide.