Buying and Selling Property

How I help you buy or sell property

Selling or buying property is the largest financial transaction most people will ever make. A mistake in the purchase agreement or an overlooked mortgage can have serious consequences. I make sure everything runs safely.

• ✓Checking the legal status of the property (mortgages, enforcement proceedings, easements)
• ✓Drafting or reviewing the purchase agreement
• ✓Attorney escrow of the purchase price (your money is safe)
• ✓Application for registering the ownership right at the Land Registry
• ✓Representation in negotiations with the other party or the real estate agency
• ✓Reviewing the reservation agreement before signing

Step by step: how a safe property purchase works

First we pull the current extract from the Land Registry and check that the owner matches the person you are dealing with, and that the property is free of mortgages, easements, enforcement proceedings or a dispute notation (Section 986 of the Civil Code). At the same time I check the seller in the insolvency register and the central register of enforcement proceedings. If everything checks out, I draft or review the purchase agreement and the reservation agreement, if the estate agency requires one. The purchase price always goes into attorney escrow; the seller receives it only after the ownership right is registered. Finally I file the application for entry, which under Sections 16 and 18 of the Land Registry Act (Act No. 256/2013 Coll.) is subject to a 20-day protective period before the registry can complete the entry.

Buying property in Prague: typical client situations

Clients most often come to me in three situations: buying a flat in Prague from a developer and wanting to check that the future purchase contract has fair terms and that they have the right to claim hidden defects on a new build (Section 2129 of the Civil Code, generally five years from acquisition for a consumer, for property from registration of ownership in the Land Registry); buying an older flat or house and worried about overlooked easements or mortgages in the Land Registry; or selling a property and wanting certainty that they will receive the money safely and on time. A feature of Prague transactions is often a higher purchase price, which raises the stakes on secure escrow and on carefully checking the reservation agreement, where reservation agreements are usually drafted primarily in the intermediary's interest, so it pays to have them reviewed.

What to prepare for the consultation

Bring me the reservation or purchase agreement if you already have one, an extract from the Land Registry for the property, and information about how you plan to finance the purchase (cash or mortgage). If you are selling, prepare the property documents (title deed, energy performance certificate) and information about any mortgage that will need to be repaid or transferred at the time of sale.

Price of the service

The price depends on the scope, that is, whether it is only a review of the purchase agreement or full legal handling of the whole transaction, including escrow and the Land Registry entry. I will confirm the exact price in advance and in writing once you send me the documents.

Who will handle your case

Ing. Mgr. Tomáš Beneš

Attorney registered with the Czech Bar Association, based in Prague.

Law degree from Charles University. I focus on business law, real estate and employment disputes. I handle every case personally, no assistants.

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How we will work together

Frequently Asked Questions: Buying and Selling Property

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