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Procedure for buying a flat:

1. Reservation Agreement:

On the basis of a written reservation agreement, the buyer pays a reservation fee in the amount of CZK 100,000 + VAT in the amount according to generally binding legal regulations (“VAT”), which will be fully used as a deposit on the purchase price of the subject of future purchase (i.e. the price of the reserved flat) in case an agreement on future purchase contract is concluded (“future purchase contract”). In the event that the reservation fee is not fully paid by the agreed date, the validity of the reservation agreement automatically ends.

After paying the reservation fee, the seller will present the prospective buyer with a specific text of the future purchase contract according to the wording which forms an annex to the reservation agreement.

The future contract is concluded in writing after its discussion within 14 days from the date of presenting its specific text to the prospective buyer by the seller.

If the specific text of the future contract is not presented by the seller or the future contract is not concluded within the deadline according to the reservation agreement, the validity of the reservation agreement automatically ends and the reservation fee will be refunded in full.

2.Future Purchase Contract:

By concluding a future purchase contract, an obligation arises for the seller and the buyer to conclude a purchase contract under the agreed conditions regarding the subject of the future purchase. The future purchase contract contains, in addition to the specification of the subject of the future purchase and the purchase price, in particular agreements on payment terms (see maturity of the purchase price), conditions of completion and handover of the subject of purchase, its properties and method of handing over to the buyer for use after concluding the purchase contract.

3.Purchase Contract:

The purchase contract is concluded in connection with the completion of the construction of the subject of purchase (issuance of the building permit and assignment of a number of the building where the subject of purchase is located).

The condition for concluding the purchase contract includes, among other things, carrying out a technical inspection of the subject of purchase (flat) after its completion (with the participation of the buyer and the seller) and payment of the full amount of the agreed purchase price incl. VAT in accordance with the future contract.

Together with the purchase contract, the relevant application for the registration of the buyer’s title of ownership in the Cadastre of Real Estate according to the purchase contract is signed.

The submission of an application for the registration of the title of ownership to the relevant cadastral office according to the purchase contract is arranged by the seller at their own expense no later than within 5 working days.

The handover of the subject of purchase to the buyer for use is arranged by the seller no later than 14 days from the date of concluding the purchase contract and the submission of the relevant application for the registration of the title of ownership in the Cadastre of Real Estate.

Maturity of the purchase price

reservation fee in the amount of 100,000 CZK + VAT within five (5) days from the date of signing the reservation agreement to the seller’s account; in the case of concluding a future contract, this represents the first deposit on the purchase price

second (2) deposit on the purchase price in the amount of 10% of the purchase price excluding VAT + VAT from this second deposit within seven (7) days from the date of concluding the future contract to the seller’s account

payment of the rest of the purchase price (incl. unpaid VAT) within thirty (30) days from the date of the written information of the seller on the completion of the subject of purchase (issuance of the building permit) to the seller’s account

Mortgage

We are aware that procuring quality financing is key when buying a property. We have therefore prepared the most economical housing mortgage for you, and what is more, it is without unnecessary paperwork. A mortgage specialist will help you with the choice of the product (low-rate mortgages, 100% mortgages, mortgages for entrepreneurs, mortgages for young people, no-income verification mortgages, offset mortgages, etc.), advise on choosing the type of interest rate, help with document completion, will provide real estate appraisal and communication with the cadastre and the bank.

You can find the offer of the entire market in one place, and thanks to special discounts, you will also get conditions that are not offered by banks at branches as standard:

HYPOASISTENT monitors the entire approval process and goes through the contractual documentation with you and explains it in advance. 100% discretion is a matter of course.

If you are considering mortgage financing, mortgage calculator will help you with a quick approximate calculation. Contact us, we will be happy and discreet to advise you and prepare a mortgage calculation from any bank.