If you have decided to buy a property in the Czech Republic there are many possible problems in your way. Thorough research is the key to a successful purchase.
Many homes for sale in the Czech Republic can be found online. Almost all estate agencies offer their services on the web. Developers also offer properties online, avoiding the intermediation of an agency.
Property exhibitions are another good option for finding a property in the Czech Republic. They are held across the country and serve as a good source of information about market conditions. Getting in contact with different construction firms also enables you to estimate possible costs.
Avoid organised tours offering you apparent bargains if you buy immediately. There is nothing worse than a rushed decision. Very often these houses are not a good deal at all.
There are a couple of rules to be observed when buying a house in the Czech Republic. First of all, make sure that you have the basic information on the legal process of buying a house. Also make sure that you fully understand them. Some things may appear obvious at first but might turn out to have unexpected side effects.
As a next step you should inform yourself about the different types of properties. There are advantages and disadvantages of properties in rural areas as well as in industrial regions. Is the property easy to resell? Are there construction limitations? You should always keep in mind what you are planning to do with the property you want to buy.
Even though you can do a lot of planning from your home country it is crucial that you visit the Czech Republic in your search for an appropriate location. Perhaps you could rent a place to stay for the duration of your search. This will take some time pressure off and you can concentrate on looking for the best offer.
It is also very useful to get in contact with any potential new neighbours. In addition, people who have recently bought homes in the area you want to buy in can provide helpful information, not just on realistic prices but also on things you have to watch out for. Real estate agents or surveyors can give you contact details.
If you have found a property you want to buy, make sure that there is valid planning permission. The permission regulates everything concerning construction work on the property. There may be limitations as to whether you are allowed to alter your house or to build a pool, for example. You might run into serious problems if there is no such permission or if there are limitations. Also check that there are no outstanding debts on the property.
Before you sign any document involved in the purchase, have it looked over by a lawyer. This is especially recommended if your Czech is not good. You might also consider getting an independent interpreter. These investments will eventually pay off as they spare you unnecessary trouble and costs.
Using a real estate agency is helpful if you do not want to spend much time dealing with all the paperwork of a property purchase. An agency will typically charge between 2% and 5% of the total property price.
However, you have to make sure that you find a trustworthy agent. No specific qualification is needed to work as a real estate agent in the Czech Republic, and agents only have to pay a small fee to get a license. Therefore there are many agents that know less about real estate issues than you do.
You can find a list of Czech real estate agents, sorted by region, at www.czech-real-estate.com .