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Purchase Procedure

Verbal Reservation

  • The verbal reservation is non-binding and it is made for a period of five working days. Within this time limit, it is necessary to confirm the interest in purchasing the property by the signature of a Reservation Agreement.
  • This reservation can be made on condition that the interested person has stated their name and contact data. Should the interest be shown by more than one interested person at once, they will be registered in chronological order, starting with those that have contacted the Seller first.

Written reservation

  • The written reservation is binding, which means that should the Client withdraw of their own will, the reservation fee forfeits as the compensation for the costs incurred. The binding reservation is made by the signature of a Reservation Agreement.
  • The reservation fee is CZK 75,000, and it is included in the purchase price of the property. At the same time, it is included in the 1st deposit according to the schedule of payments which is included in the Contract about the Future Purchase Contract.
  • The reservation fee shall be paid by the Client into the account whose number is stated in the heading of the Reservation Agreement, with the Agreement number understood as a variable symbol, by ten days from signature of the Reservation Form.

Contract about the Future Purchase Contract

  • The Contract about the Future Purchase Contract which governs the relationship between the prospective purchaser and the seller shall be negotiated and signed within sixty days from signature of the Reservation Agreement. It further specifies the property on sale, sets the terms and conditions of payment and describes the particular phases of the purchase procedure. The Client shall make the 2nd deposit of 20 %, by  ten days from the signature of the Contract about the Future Purchase Contract.

Purchase Contract

  • On completion of the construction and the official approval, and after the building number has been assigned, it is possible to proceed to the signature of the Purchase Contract (PC) and the proposal for the registration in the appropriate Land Registry. The PC precisely specifies the subject of the conveyance and its price. The Client shall pay the remaininglast part of the purchase price at the amount of 80%,. according to the schedule of payments prior to the signature of the PC and the delivery of the apartment for use. On submitting the proposal for the registration, the change of ownership of the apartment unit, including the collective ownership share in the common areas of the building and the land, is entered in the Land Register,  followed by the petition for the cancellation of the bank's lien (UniCredit Bank as the crediting bank).
  • On the registration of the apartment units in the Land Register, the Association of the Owners of Apartment Units will be established by law, and the new owner becomes its member by law. The rules for the building co-owners' contributions and continuing maintenance are addressed by the Association of the Owners.