The article is concerned with findings of a study into real property transaction procedures in Latvia. It formally describes three use cases - pure sale, pure subdivision and subdivision combined with sale and examine various institutions related to the procedures. The statistics show that real property transactions are rapidly growing, and mortgage combined with purchase can be considered as ‘normal case’ for formal description of the use case in Latvia. In theoretical part of this contribution the significant features of a cadastral unit are identified. Main transaction costs and average duration of the procedures are represented on the basis of described use cases. Relevant institutional issues are reflected not only considering Latvian situation, but also Lithuanian and Estonian practices. Modelling is an efficient tool for improving real property transactions. The preconditions for simplification of transaction procedures are clearly set descriptions of relevant activities and selected appropriate models that can be compared and improved according to identified problems. Sustainable real property market is recognised as significant pillar in market economy.