The procedure for purchasing property in the Czech Republic

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Foreign citizens have the right to acquire property in the Czech Republic as a physical and a legal entity.

Until recently, foreigners could carry out such a purchase only on the company, but in May 2009 the validity of limitations expired. Foreign nationals may acquire all types of real estate: residential, commercial, land, except for forest and protected by the State objects.

Where to start


Start buying real estate in the Czech Republic should be subject to prior acquaintance with the objects. This can be done via the Internet, specialized publications, thematic exhibitions. The next step - to select an agency that will accompany the buyer during the transaction. This may be the agency in the Czech Republic or the Czech representative office in Russia, or Russian company that sells real estate in this country through the Czech partners. Also, for assistance in the course of the transaction can apply to the Czech lawyer.

If the buyer does not intend to purchase through an intermediary, he can do the entire procedure themselves, thereby saving on agency fee. However, it is understood that the need to personally understand the legal subtleties and required to attend court. Also remember the language barrier.

At the request of the buyer agency is organizing an orientation tour. It allows the buyer to personally acquainted with the advantages and disadvantages of the object. In this view you can agree on before coming to the Czech Republic. As a rule, it is five to seven objects, they are specified in advance. For example, tour Prague-Karlovy Vary can last one day and cost less than 2 thousand CZK (? 78). It includes inspection of facilities and obtain information from the agent on the market situation, the advantages and disadvantages of each object, the legal intricacies of the procedure of purchase, etc.

You can not delete PURCHASE

If desired, the buyer can execute a transaction remotely, without having to leave the Czech Republic. But typically, the buyer still come to get acquainted with the object of purchase.

To purchase a remote to make a warrant for his representative. Real estate agent forwards a special form of power of attorney (if the Czech agency, of the Czech Republic in Russia), the buyer fills it, and assured by Russian notary, and then sends back to the agent. The agency takes the power of attorney to the Czech language in the court interpreters in the Czech Republic, where it is stamped.

Bank account and import of cash


The adopted method of calculation for the transaction in the Czech Republic - bank transfer. To do this, the buyer will need to open a personal account in the Czech Republic. The procedure takes about 30-40 minutes to open an account on it to put only ? 10. It is required to present a passport and any other document with a photograph of bearer (eg driver's license).

Money in the Czech account, you can make in several ways. For example, in the Czech ATM to withdraw the funds from a bank card and put on the account. Or go back to Russia and to transfer money from a Russian account. Board of Russian banks usually set the size and can not exceed a certain amount. To make a transfer Russian bank may request proof of the beginning of the purchase and sale of real estate.

Withdrawals made at the bank, which must present a bank card and passport. In this operation, the bank retains a commission of 1% of the amount transferred.

A small amount (on the deposit and operating costs) can bring to the Czech Republic in cash. However, the export of cash from Russia there is a limit on the amount - less than $ 10 thousand up to $ 3 thousand would be required to declare at the Russian border, from $ 3 thousand - will need to fill in the declaration. When importing cash to the Czech Republic should be borne in mind that any amount will be declared on the Czech border.

Within 30 days after the opening of accounts in the Czech Republic, the purchaser (an individual) is obliged to notify the Russian tax authorities. To do this, fill out a special inspection form. When transferring money within the Czech Republic from the account holder does not require information about the origin of money. Further transactions will be carried out in CZK.

DOCUMENTS AND DATES


The term of the deal depends on whether the property is paid immediately or be acquired by the mortgage. In the first case, the procedure may take three or four days, not counting the time to inspect facilities at the beginning of the procedure of purchase and state registration in its completion. If the property is acquired in the mortgage term increases because it takes time to process an application by the bank.

From the documents to an individual will need a passport, legal - passport business owner and an extract of the company from the commercial register of the country are located.

TREATY RESERVATION FACILITY


Once an object is selected, the buyer and the seller sign an agreement on reservation property. Agreement (and all subsequent) is in Czech language. If the buyer does not own them, the agent takes him clauses. You can also attract third-party interpreter. Simultaneously, the buyer pays the reservation fee in the amount of 50 thousand Czech crowns (about ? 2 thousand) - up to 5% of property value. Reservation facility now means that it can not be sold to another buyer.

It should be remembered that when deal breakers deposit can be returned is not always the case. If the sale does not take place through the fault of the seller, he returns to the buyer down payment and a penalty. The fines prescribed in the contract booking and may be, for example, monthly rental rate of such an object. If the fault of the buyer - the deposit is not returned to him.

At this stage, the buyer can check the legal status of property purchased. To do this he needs to either go to the website of Real Estate Cadastre (Katastr nemovitost) or contact the organization personally and get a statement. It states when and who was the owner, when concluded contracts for the sale, not whether the property has been laid, etc.

After booking the buyer pays part of the agency's services, such as half. The specific terms of payment, the buyer and the agency stipulate in advance. As a confirmation of receipt of money the agency gives the buyer a check.

TENTATIVE AGREEMENT

Concluding a preliminary contract (the contract on future contract) is not required. It is only required when buying property in the mortgage: it is on the document the bank is considering an application for credit. Also, the conclusion of this agreement may at the request of the buyer for a large amount of the transaction. The preliminary contract is immediately after making the buyer reservation fee. He was signed by the buyer and seller, notary certification is not required. The document contains details of the parties, payment and deadlines, responsible parties, etc.

Deposit Agreement

After signing the reservation object (or after signing the preliminary contract) must issued another document - a contract of deposit. It determines the order of transfer of funds. According to this document amount equal to the value of property minus the reservation fee will be stored in a separate escrow account and can be transferred to the seller only after the conveyance of property (or, in some cases, after completion of registration). Custodian of the deposit can be a bank itself, or real estate agency, or lawyer. He was signed by the buyer, seller and the person taking on storage resources.

By signing this contract, the buyer transfers the deposit account funds.

CONCLUSION sale contract


After receipt of money in the escrow account is the main contract of sale. He was signed by the seller and the buyer, then the document notarized. The contract is the same language - Czech. At the request of the buyer, it can be transferred in writing to the Russian language in the Organization of court interpreters.

STATE REGISTRATION OF TRANSACTIONS


After the conclusion of the main contract of sale agent is a statement of re-registration of ownership. Both documents are sent to the inventory of real estate. State Registration takes less than one and a half months.

Depending on the conditions of the contract of sale the keys of the object passed to the buyer or at the time of signing the contract of sale, or after registration of property rights. It paid the state fee (see below under "Related costs").

Transfer of ownership is carried out after the registration of the contract in the inventory of real estate. When registering on the reverse side of the contract of sale is stamped. If desired, the buyer can order the real estate cadastre excerpt of ownership - list of property (value - about ? 4).

FINAL STAGE DEALS


The keeper of the deposit (agent, attorney or representative of the bank) keeps track of online real estate cadastre information about a change of ownership, and then transfer the seller's transaction amount minus the tax on transfer of ownership. The tax is transferred to the tax authorities. If the tax is not paid at this stage, the duty to pay a year later transferred to the buyer. The keeper of the deposit required to pay tax and the buyer has the right to demand his statement about making the payment.

In conclusion, the agency helps the buyer to re-register the name of the contract for payment of utility charges.

RELATED COSTS

Tax on transfer of ownership of 3% of the appraised value of the property or the transaction amount, depending on which of them above. As already mentioned, it pays the seller.

Agency commission ranges from 3% to 5%. Commission is often paid by the buyer. Prepayments are generally not required.


It is also necessary to state fee for registration of ownership in real estate cadastre. It is 500 CZK (? 19). Who exactly pays for it, also depends on the conditions of the contract of sale. Notary services (verification of signatures on the contract of sale) are 30-70 euros (? 1,2-2,7) for signature. Typically, these costs are included in the commission agency.

MORTGAGES

In August 2009 a mortgage loan by a foreign national is very difficult, but this possibility remains. However, a loan can only be one bank Czech Republic - Mortgage. This will require to provide an income statement from Russia. Credit is given in CZK at the rate of 8,4% per annum for a maximum of 20 years. The loan amount starts from 350 thousand euros (? 13,6 thousand). Credit is given for 50% of the value of the object.

Real estate agencies typically assists the buyer in mortgages. In particular, it can help to prepare the necessary documents and assistance in negotiations with the bank to obtain the most favorable credit terms.

FEATURES OF PURCHASE OF VARIOUS TYPES OF REAL ESTATE

Apartment co-op

The main advantage of the apartment co-op is a reduction in its value compared to traditional apartments - prices are lower by 15-20%. However, such purchases have significant shortcomings.

Firstly, the buyer does not acquire property in the property and takes it in a long-term lease. To do this, the buyer signs a lease with the cooperative. This limits its actions: for any real estate transactions (leasing, renovation, etc.) require approval of the cooperative. Should carefully examine the statute and strictly adhere to it because, even because of a delay in making utility payments, the cooperative may terminate the lease with the tenant and to deny membership rights.

The vast majority of cooperative apartments can be bought only Czech citizens or foreigners with permanent residence in this country. These flats to foreign nationals can not buy even a legal entity.

By cons buying co-op apartment is and the impossibility of obtaining a mortgage.

True, there is a positive aspect when buying a flat: some of them can be moved from the property of the cooperative to private ownership. However, the decision is taken by homeowners. It should be ready for paper procrastination.

Features of purchase of land


The main limitation on the acquisition of land, is as follows: foreign nationals can not acquire agricultural land to an individual - only legal. Land for building private individuals can acquire.

RENTAL PROPERTY


If you want to rent a house for rent, searching can be practiced alone or with the help of real estate agency. The first method allows you to save on the agency fee, but in this case the foreign citizen is safe from fraud. The advantage of the second method is that the agency takes over search for shelter, views, negotiating with the landlord and the conclusion of the lease.

Between tenant and landlord sign a contract. The document contains the following items: passport data on both sides, the timing and cost of rent, the characteristics of the object, responsible parties, etc. At the conclusion of the agreement the lessee pays the price for the first month of their stay, the deposit holder in the amount of monthly fees and the same amount - the agency fee . The pledge is a guarantee to the lessor about the safety of furniture, decoration, etc. If anything is damaged by a tenant leaving a deposit will not be returned to him. Typically, utilities are not included in the rent.

It is worth remembering that a contract for a definite term and the tenant has no right to leave it before the due date. In some cases, premature departure resident landlords are turning to lawyers and those from the former obliges the tenant to pay the full amount of rent (even if he had lived, for example, instead of a year only a month). But as a rule of avoiding such a decision. In any case, the tenant is obliged to warn about leaving home for two or three months.

Rent, for example, a one-room furnished apartment in the middle of the prestige area of Prague is 11-12 thousand euros (? 430-470) per month.

For assistance in preparing the material to thank Roman Potemkin (company Ripid sro, www.pragacatalog.ru) and Vitaly Terent'yeva (company VITER-MONO sro)
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