The real estate company has completed the purchase of 932 properties in Grindavík, and in almost all cases, the purchase price has remained unchanged. However, based on RÚV's television report last night, in which the sellers’ attorney was interviewed, it was made to appear that the scope of these cases might be greater than initially suggested.

Insurance Valuation Increased by 10 Billion ISK After the Disasters
The purchase price for private properties in Grindavík was based on 95% of their insurance valuation, as stipulated by laws enacted by the Icelandic Parliament. Sellers were, however, given the opportunity to request an increase in the insurance valuation from HMS following the disasters. Many utilized this option, resulting in the insurance valuation of properties in Grindavík increasing by 10 billion ISK over a few months.

In most cases, the increase in insurance valuation was fair and reasonable. However, there are instances where discrepancies arose between the valuation and the actual condition of the properties. In such cases, the company has requested a reassessment of the insurance valuation by HMS before final payment is made.

Emphasis on Speeding Up Purchases in Grindavík
A significant emphasis was placed on expediting the purchase of properties in Grindavík. As a result, Þórkatla generally did not conduct a traditional inspection before signing the purchase agreements, opting instead to assess the properties upon handover. Although the majority of transactions and property conditions were satisfactory, there were instances where houses were in unacceptable condition. In one case, a property sold as a completed house was later discovered, upon closer inspection, to be nearly at the shell stage of construction.

965 Applications for Residential Property Purchases in Grindavík
Þórkatla Real Estate Company has now received 965 applications for the purchase of residential properties in Grindavík. A total of 939 applications have been approved, including 64 cases where the company accepted that temporary circumstances explained the official registration of residency elsewhere than in the sold property.

Of the 26 applications not approved, 13 applications from legal entities were dismissed, 7 were rejected, and 6 applications remain under review.

Thus far, 932 purchase agreements have been finalized. Handover has occurred in 861 cases, and 830 final deeds have been signed.

The company’s total investment in the 932 properties completed to date amounts to just under 71 billion ISK. Of this, the company has disbursed approximately 49 billion ISK in purchase agreement and deed payments and assumed housing loans from sellers amounting to approximately 21.4 billion ISK.