Excerpt from course description

Real Estate Accountancy


In their capacity as a neutral intermediary, all real estate enterprises are responsible for handling the economic settlement between buyer and seller in a safe and orderly fashion, in accordance with the applicable regulations.
The legislation concerning the settlement process is extensive and regulates the value chain: registration of received client funds, booking of transactions, requirements concerning journaling and presentation of the annual accounts, taking into account the prevailing requirements for public information.
Nevertheless, the legal provisions do not regulate the actual settlement in detail. The real estate agent must ensure that the settlement is made in accordance with the contracts that the parties have signed, in accordance with generally accepted estate agent principles and his/her duty of care for both parties.

The settlement between the parties is the final part of the conclusion of a property deal. The settlement sums up the economic agreements that have been concluded during the transaction, in addition to the charges and fees that have accrued for each party.
The type of ownership and conveyance that is applicable will also determine how a correct settlement shall be carried out. The real estate agent is required to make sure that the transfer of the purchase sum from buyer to seller takes place without risks for any of the parties.

Students are expected to have acquired the necessary knowledge in their first and second year of the programme to understand the conditions on which such settlements are based.

Course content

  1. Legislation and regulations related to carrying out typical property deals, including the rules concerning handling of entrusted funds.
  2. Accounting and reporting rules, including requirements for balancing the client accounts.
  3. The client accounts and the connection to the annual accounts.
  4. Organizing the settlement service in the real estate enterprise.
  5. Quantification, documentation and registration of transactions.
  6. Actions related to completion of the financial settlement between the parties, including settling of accounts, statement of accounts, redemption of loan and transfer of right of ownership to new owner.
  7. Ability to identify the main risk phases in a property settlement.


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