As of today, those who have sold their houses in Grindavík to Þórkatla can apply to make a contract for use of the house, known as a right of use agreement. The agreement is based on the cooperation between Þórkatla and the sellers of houses in Grindavík in regards to care, minor maintenance and general supervision of the properties. The prerequisite for a right of use agreement is that it is considered safe to be in the property and on the surrounding land.

By signing a right of use agreement, the sellers decides to gain access to the house that Þórkatla has bought from them. They are then authorized to use the house within the limits stated in the agreement, which includes the right to keep assets in the property and to carry out maintenance and care as suitable. In this way, sellers can maintain their relationship with the house and in fact “protect” it. As long as the agreement is in effect, it is assumed that the person visits the property and therefore Þórkatla does not carry out regular checks during the period, unless it is specifically requested. It is prohibited to stay in the property over night and no permanent residency is allowed.

The cost of a right of use contract is twofold. On the one hand, the customer pays the monthly cost of electricity and heating on the property. On the other hand, the customer pays ISK 30,000 in administrative fees when the contract is made. You can apply to make a right of use contract here.

952 applications for purchase of residential property in Grindavík

Now 952 applications for purchase of residential property have been received by the Þórkatla. A total of 914 applications have been approved, of which 46 applications have been approved where the company agreed that temporary circumstances have clarified the registration of domicile elsewhere than in the sold property. 907 purchase agreements have already been finalised. Hand over has taken place in 823 cases and 785 deeds have been signed.

The total investment in the 907 assets that have been completed so far amounts to ISK 69.5 billion. This includes purchase agreements and payments of ISK 48.3bn and mortgages received of ISK 21.2bn.