Selling your property for maximum value.
Real estate services in Prague, Brno and OstravaThere are many reasons for this but the predominant is that, simply put, Czech locals don’t trust real estate agents. Two decades of bad experiences in an unregulated environment have left them with a very bad taste in their mouth.
How to squeeze 40% more from your Czech property sale
How to reach the most buyers
Because of this fact that a full half of real estate transactions happen without real estate agencies, if you limit yourself to selling through a real estate agency you are potentially losing one half of all buyers.
To get maximum value for your property and sell it quickly it is really critical to list your property on ‘for sale by owner’ websites like www.bezrealitky.cz which are hugely popular among Czech locals.
Please see our unique power of attorney sale service which allows you to take advantage of both advertising your home on ‘for sale by owner’ websites and also with the biggest real estate companies.
Things you need to consider beforehand
Before deciding to sell your flat you should consider the following matters which can really affect the amount of return you would get from your property.
- Mortgage payout options. Many sellers don’t realize that Czech banks have very high penalties (up to 25% of the unpaid amount of the mortgage) if you try to payout the mortgage at a time other than when the fixation comes up for renewal.
- SRO tax strategies. Many properties were purchased by foreigners at a time when it was required to have a SRO or Czech company. However, taxation under an SRO can be much less favorable than as a physical person. There are options involving moving the property to personal ownership before its sale that can prove advantageous for the seller.
For more details on these items and to read others please see our article: 5 Vitals to Execute a Maximum Value Resale in Czech Republic
| Power-of-Attorney Sale of Property | Gold | Silver |
|---|---|---|
| No additional real estate fee or commission payable! | ||
| Best pricing strategy (ie. Quick sale vs maximum price) |
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| Advising on modifications to maximize sale price | ||
| Advising on legal obligations to a tenant (see subheading ‘Unparalleled Protection‘) |
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| Power of attorney preparation | ||
| Ads on ‘sale by owner’ venues (50 to 60% of Czech properties sold privately) |
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| Ads to real estate agencies | ||
| Secure key holding | ||
| Unlimited showings | ||
| Coordination with tenants for viewings (if applicable) | ||
| Documentation needed for sale of property | ||
| Czech Over ® legal due diligence on sale contracts | ||
| Coordinating seller and buyer’s bank requirements | ||
| Power of attorney signing of contracts | ||
| Handover of apartment | ||
| Transfer of utilities | ||
| All fees subject to VAT (value-added tax) For property values up to 3 000 000 CZK * 25 viewings for free – additional at 500 CZK/visit * full amount payable at the start ** 1/3 at start, 1/3 at FPC and 1/3 at registration |
105 000 CZK** | 77 000 CZK* |
Forms of Payment Accepted
- International bank wire (CZK only)
- U.S. or Canadian money order (4% conversion fee)
- Western Union Bank payment (CZK only)
- PayPal (4% fee applies)
- Online credit card payment (via PayPal :: 4% fee applies)
- Cash in any standard convertible currency, such as Euro, U.S. Dollar, British Pound Sterling, or Czech Crowns. 4% conversion fee applies to any currency except CZK.
“You managed to sell three of my Czech properties, handling everything without my presence and timing the sales exactly to my mortgage fixation dates, saving us hundreds of thousands of CZK in penalties. A huge thank you from us both, your system certainly works.”
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