As a buyer's agent at Bomae, we see every day how crucial a correct refusionsopgørelse (adjustment statement) is for a successful property sale. This guide gives you a thorough insight into the entire process, whether you are the buyer or seller of a property.
What is an adjustment statement? A refusionsopgørelse (adjustment statement) is the final financial settlement between buyer and seller in a property sale. This legally required document ensures that all expenses associated with the property are fairly divided between the parties around the date of possession. It particularly concerns handling expenses that the seller has paid in advance but which partly cover the period after the buyer takes over the property.
The adjustment statement plays a central role in protecting the interests of both buyer and seller. It documents precisely how various expense items are to be divided, thereby ensuring transparency in the final phase of the property sale. This is especially important when handling recurring expenses such as property tax, utility charges, and various types of dues or shared expenses.
The process around the adjustment statement Preparation before the date of possession In the period leading up to the date of possession, thorough preparation is essential. As a buyer or seller, you should ensure that all relevant documentation is gathered and organized. This includes the latest property tax bill, current utility bills, insurance policies, and any invoices from associations. It is also at this stage that contact should be established with the relevant utility providers and associations to ensure a smooth transition.
The date of possession itself
The date of possession is particularly important for the adjustment statement. This is when the crucial readings of all utility meters in the property are taken. This includes electricity, water, heating, and possibly gas. Each meter reading is carefully documented, often with photographic evidence, and reported to the respective utility providers. This process forms the basis for the final settlement of consumption-related expenses.
After the possession
In the period after possession, the actual adjustment statement is prepared. This typically has to happen within 30 days. During this period, all relevant information is gathered, and precise calculations are made of how the expenses are to be divided between the parties. The statement is then sent to both buyer and seller for approval, after which the final settlement can take place
Key expense items in the adjustment statement Fixed expenses to the authorities and associations Property tax and land tax (ejendomsskat and grundskyld) often make up a significant item in the adjustment statement. These expenses are typically charged twice-yearly or quarterly by the municipality and must be divided precisely according to the period of ownership. The same applies to expenses for a homeowners' association or owners' association, where dues and contributions are fairly divided between the parties.
Consumption-related expenses
Consumption expenses are handled particularly carefully in the adjustment statement. This includes electricity, water, heating, and possibly gas. These expenses are often calculated based on specific meter readings on the date of possession, ensuring a precise division based on actual consumption. Special attention is given to advance payments (acontobetalinger), which must be settled correctly between the parties.
Insurance and special circumstances
Insurance matters are an important element in the adjustment statement. This applies both to ordinary building insurance and any special insurances. In a sale under the home inspection scheme (huseftersynsordningen), the seller's share of the ejerskifteforsikring (change-of-ownership insurance) must also be included in the statement.
Special circumstances for different property types When buying an owner-occupied flat When buying an owner-occupied flat (ejerlejlighed), special consideration must be given to shared expenses. The owners' association's expenses for operation, maintenance, and administration are divided among the owners according to their share ratio (fordelingstal). In the adjustment statement, these expenses must be divided precisely between buyer and seller. Special attention should be given to any maintenance accounts and savings for larger projects within the association.
Detached houses and special circumstances
When buying a detached house (parcelhus), the focus is often on individual utility agreements and the homeowners' association's affairs. Special attention should be paid to private shared roads, where maintenance costs can be a significant item. At the same time, any special circumstances regarding, for example, private waterworks or antenna associations must be included in the statement.
Housing co-operatives and their special nature
Buying an andelsbolig (housing co-operative share) differs in several respects. Here, the housing fee (boligafgift) to the co-operative housing association must be divided correctly, and any improvements must be included in the statement. It is also important to be aware of the association's maintenance obligation and how this affects the adjustment statement.
The financial settlement
The final settlement of the adjustment statement can go one of two ways. If the balance is in the buyer's favour, the amount is typically offset against the deposited purchase sum. This happens through the buyer's bank, which handles the release of the final amount to the seller.
If, on the other hand, the balance is in the seller's favour, the buyer must make a separate payment. This must normally happen within 8 days of the statement's approval. In the event of late payment, interest may accrue in accordance with the provisions of the Danish Interest Act (rentelovens bestemmelser).
The financial settlement The final settlement of the adjustment statement can go one of two ways. If the balance is in the buyer's favour, the amount is typically offset against the deposited purchase sum. This happens through the buyer's bank, which handles the release of the final amount to the seller.
If, on the other hand, the balance is in the seller's favour, the buyer must make a separate payment. This must normally happen within 8 days of the statement's approval. In the event of late payment, interest may accrue in accordance with the provisions of the Danish Interest Act.
