Have you got a burning question about buying a property in Prague or the real estate services we offer at Urban Address?
Hopefully you will find the answers here, but you can always give us a call or drop us an email.
FREQUENTLY ASKED QUESTIONS
Buying Property in Prague Made Easy
How long does the whole process take?
The length of process depends on what services you choose but also the promptness of your responses during the process. From completing the brief and signing the contract with Urban Address, it typically takes:
3-5 months to find the property, sign the buying contract and registering you with the Cadastral office confirming you as the owner.
1 Additional month if you finance your purchase with a mortgage
3-6 months to renovate your property (depending on the extent of the renovation)
1-2 month to secure a tenant
Up to 1 month to finalise your interior design proposal
How much do you charge for your services?
For our services we charge:
For a Basic Plan we charge 3% of the final purchase price.
For a Premium Plan we charge 4% of the final purchase price.
For renovation services, we charge 15% from the renovation costs before VAT
For assisting in finding a tenant we charge 1-2 month rent
An individual service fee will be provided for interior design proposal based on the specific brief
Who is eligible to buy a property in the Czech Republic?
A citizen of any country is eligible to purchase a property in Czech Republic if they have the funds readily available for the purchase
Who is eligible to apply for a mortgage to finance a property in the Czech Republic?
To be eligible for a mortgage application in the Czech Republic, you have to be:
– either a Czech citizen
– or to be married to a Czech citizen
– or to have a temporary or permanent residency in the Czech Republic
– or to have an income generated in the Czech Republic
– and you have to have a Czech correspondence address
Do I need to come to the Czech Republic for any reason throughout the process?
The whole process can be done remotely, through a Power of Attorney. Should you wish to finance your purchase through a mortgage, then you will need to be present to open a bank account linked to your mortgage.
Does Urban Address also help with finding a tenant?
Yes, Urban Address can assist you in finding a tenant.
See details under Additional Services.
How are you different from a real estate agent?
A Real Estate Agency will provide you with property listing primarily from their portfolio. Your need will not be their primary goal. Their goal is to sell the property and make a commission on it. You will need to invest your own time and energy to do the market research, view the properties, make your own judgement when comparing properties, list the pros and cons, research the neighborhoods, etc. You will need to be be present at every step of the process. Furthermore, once the property is registered to your name you will be on your own.
Urban address will assist you and keep your interest as their primary objective for every step of the way. From the very beginning of the process all the way till the end; be it filling your property taxes, applying for utilities, registering with the owner’s association, or renovating your property and finding you a tenant, all can be done under one roof, and even remotely if needed.
Urban Address saves your time, money, energy and gives you piece of mind.
How does the process work?
We offer you to chose from either Basic or Premium Plan, and we also provide renovation and finding a tenant services.
To see detailed information and a step by step explanation of the process, refer to Our Services section.
Do you only focus in properties in Prague?
We can also assist you in acquiring a real estate outside of Prague, based on an individual agreement.