FREQUENTLY ASKED QUESTIONS
Our agents have been preparing and sorting by subject answers to frequently asked questions regarding the acquisition of and investing in property. This client section is updated on a continuous basis. However, should you not find any information of interest in the answers, do not hesitate to contact the agent, who will answer your question and include it among FAQs for others to know.
WITH WHOM DO I DEAL AND TRADE WHEN BUYING A PROPERTY?
Each current project indicates the contact details of the competent agent, who will discuss with you all your requirements and guide you through the whole business process – from getting to know the project to financing and finally to handing over the keys to your new apartment. You deal with DOMOPLAN, its subsidiaries and the network of business partners.
WHAT MAKES THE DEVELOPMENT PROJECTS EXCEPTIONAL?
Development projects focused on by DOMOPLAN are distinguished by their quality, in terms of functionality, materials and aesthetics, and exceptional architectural design and locality. They are residential buildings, complexes or villas located in areas with fast transport accessibility and good civic amenities.
WHY IS IT CONVENIENT TO BUY AND OWN AN APARTMENT?
Buying an apartment will bring you, besides other advantages, in particular great freedom to dispose of the property – the opportunity to choose the design of the interiors, use it for yourself, rent it or, as the case may by, rebuild it later on. In relation to the forthcoming rent deregulation and, in general, to rising rents, which are higher than monthly mortgage instalments and are not tax-deductible, the acquisition of a property is the most interesting investment on the contemporary financial market. In addition, interest paid to the bank on the mortgage is tax deductible.
CAN I RECKON ON INVESTMENT APPRECIATION IN THE FUTURE?
Investments in properties situated in strategically significant localities with good transport accessibility fully covered by the urban infrastructure (including shopping, healthcare and educational centres and services) always pay off. The quality of properties is guaranteed not only by experienced architects but also by the careful selection of properties on the part of DOMOPLAN.
IS IT BETTER TO BUY A PROPERTY AT THE BEGINNING OF THE PROJECT OR AFTER THE PROJECT HAS BEEN COMPLETED?
When the project starts, properties usually have lower introductory prices and therefore, this option is preferred by clients. In addition, you can ask for client changes – equipping the apartment to suit your needs and influencing its appearance. On the other hand, once the project has been completed, you can view the apartment, which is then immediately available to you. Therefore, it is simply up to you.
CAN FOREIGNERS BUY PROPERTY IN THE CZECH REPUBLIC FROM DOMOPLAN?
Both EU nationals and non-EU nationals can acquire and transfer properties in the Czech Republic without any limitations being imposed. Neither do they have to present an EU identity card nor prove permanent residence.
WHERE CAN I GET INFORMATION ABOUT A SELECTED LOCALITY?
Updated information about selected localities of individual development projects is available on our website in the Current Projects section, under About the Locality. You can make an appointment with the agent assigned to the particular project and visit the locality as well. We will also be happy to present a list of all attractive localities to you at our client centre at No. 11 Údolní Street, Brno.
CAN I RESERVE A SELECTED PROPERTY?
Following an appointment with the real estate agent, you can make a non-binding reservation of the property by verbal agreement for 3 days. Then the reservation must be confirmed by entering into a written agreement – a reservation contract, whose validity is subject to the payment of a reservation fee, which is part of the purchase price of the property. You can also reserve properties by sending an e-mail to firstname.lastname@example.org.
I AM INTERESTED IN ANOTHER BUILDING TYPE IN A PARTICULAR LOCALITY. WHAT CAN YOU OFFER?
The types of buildings in a particular locality must be approved by the municipal and building authorities within building proceedings and therefore, such requirement cannot be satisfied. Please try to select another property from our offer of current projects.
HOW AND WHERE CAN I MAKE AN APPOINTMENT WITH THE REAL ESTATE AGENT?
An agent is indicated for each current project, who is available to you. Besides their names, we also show their phone number and e-mail so you can make an appointment. Please contact the client centre at No. 11 Údolní Street in Brno – phone: 607 207 207 if necessary. Appointments are usually held at the site of the project in which you are interested, or in the company offices.
HOW TO PROCEED IF I WANT TO BUY A PROPERTY?
- Following a meeting with the real estate agent and a non-binding reservation of the property by verbal agreement for 3 days, you make a binding reservation of the property by entering into a so-called reservation contract and by paying a reservation fee of a specific amount (which is indicated for each particular project), such fee being part of the purchase price of the property.
- A preliminary contract to transfer the title to the property, entered into within 20 days of the binding reservation, shall establish how the property will be financed and under what terms and conditions the parties will conclude the final contract to transfer the title to the property.
- Upon entering into and signing the contract to transfer the title to the property, the purchase of the property with the final price inclusive of VAT is transferred to the buyer. The contract shall be entered into only after the relevant certificate of occupancy has been issued.
You will find more detailed information and the fees under the particular current project, or the agent assigned to the particular project will be happy to provide the relevant information.
WHEN AND WHAT CONTRACTS ARE REQUIRED TO BE ENTERED INTO AND WHAT IS THEIR CONTENT?
DOMOPLAN shall conclude 3 contracts with you in the following order:
- Reservation contract
- Preliminary contract to transfer the title to the property
- Contract to transfer the title to the property
The reservation contract confirms the property reservation and shall be signed within 3 days of the non-binding verbal reservation. Once the reservation contract has been signed, you pay a reservation fee in an amount specified for each particular project, by bank transfer and within 5 days. The bank account number is indicated in the heading of the reservation contract. Indicate your birth registration number or your company identification number (IČ) in the variable symbol field. The reservation fee is part of the purchase price of the property inclusive of VAT, which is indicated along with the exact specification of the property already in the reservation contract.
PRELIMINARY CONTRACT TO TRANSFER THE TITLE TO THE PROPERTY
You can sign the preliminary contract to transfer the title to the property immediately after the reservation fee has been paid, however, not later than within 20 days of signing the reservation contract. Under the preliminary contract to transfer the title to the property, the parties agree on what form the property will be in when sold by the seller and how it will be financed by the buyer, including all the other terms and conditions of the purchase/sale.
CONTRACT TO TRANSFER THE TITLE TO THE PROPERTY
Before signing the contract, a certificate of occupancy must be issued. No contract can be entered into without such certificate having been issued. The contract to transfer the title to the property is usually entered into within 2 to 3 months of issuance of the certificate of occupancy. Under the contract to transfer the title to the property, the property (object of the purchase) is transferred from the seller to the buyer and therefore, the object of the transfer is specified exactly including the final price inclusive of VAT and any client changes. It also defines the method of purchase price payment.
HOW CAN A PROPERTY BE FINANCED?
You can leave any concerns about property financing to us – we have established a client centre for you where a financial broker will present all mortgage and loan facilities currently available on the market.
CAN I PROTECT THE PROPERTY BY INSURANCE?
Yes, besides providing loan and mortgage consultancy, our client centre will also arrange for insurance to protect your property or mortgage as well as insurance cover against the inability to pay, including insurance related to the purchase of a property. You will thus obtain all insurance policies requested by banks.
WHAT IS THE STANDARD EQUIPMENT OF APARTMENTS AND CAN I ASK FOR CLIENT CHANGES?
Our agents responsible for individual current projects will inform you about the standard equipment of a particular apartment. If the project has not yet been completed, you can communicate your wishes concerning the layout or equipment (tiling, floating floors, kitchen units, built-in wardrobes, etc.). We will be happy to provide consulting services in liaison with our specialist in exclusive interior designs, who will help you select above-standard materials. Any client changes including completion dates are then recorded in an appendix to the preliminary contract to transfer the title to the property.
HOW CAN I GET ACQUAINTED WITH THE STANDARD EQUIPMENT OF AN APARTMENT?
You can view the standard interior equipment of properties at our client centre at No. 11 Údolní Street in Brno. In addition, you can make an appointment or arrangements for a property viewing, if the project has already been completed, with the agent responsible for the particular property. You can also discuss possible changes to the standard equipment with such agent, with respect to the layout, surfaces and other parameters of the current project. Moreover, we will be happy to present the possibilities of above-standard equipment for the apartment and the scope of client changes at our client centre. We apply an individual approach to our clients and therefore, you can choose from a wide selection of our suppliers without being limited by any specific packages.
WITH WHOM AND HOW CAN I NEGOTIATE A CLIENT CHANGE?
You will be able to negotiate client changes with your personal agent, who will be in contact with you from the very beginning, up to project completion and property hand-over. Of course, you can also refer to our specialised consultant at the client centre. First, you will be presented with the standard equipment of an apartment or a house and with possible client changes including dates. Then you just choose above-standard materials and determine the final client changes. Following an appointment, the agent will prepare a price calculation on which the client shall comment not later than within 5 business days of its receipt. Client changes will then be included in the preliminary contract to transfer the title to the property or, as the case may be, in an appendix to the preliminary contract to transfer the title to the property.
WILL YOU HELP ME CHOOSE THE KITCHEN, BUILT-IN WARDROBES AND OTHER FURNITURE?
Our apartments are not equipped with a kitchen or other furniture as standard since each client has different tastes and different ideas about their own living. However, we will be happy to help you choose and will present a wide selection of household appliances, kitchen and other indoor furniture, built-in wardrobes, lighting fixtures and others. Our agent for the particular project will recommend suitable contractors of DOMOPLAN to you.
WHY ORDER EQUIPMENT AND FURNITURE FROM PARTNERS OF DOMOPLAN? WHO ARE THESE CONTRACTORS?
Besides assistance with equipping your property, which may save you a lot of time, you as a client of DOMOPLAN also obtain significant discounts from our partners. When selecting our suppliers, we place special emphasis not only on the quality of their products but also on their market stability, assistance and support as well as a fair approach.
At our sales centres, we will be happy to present prestigious partners who not only grant discounts to our clients but also arrange everything that is necessary to have your property completely equipped to suit your needs, i.e. design, choice of kitchen, built-in wardrobes, etc.
WHAT IS THE WARRANTY PERIOD FOR AN APARTMENT AND ITS FACILITIES?
It is mostly the statutory two-year period for the apartment. As regards any equipment, the warranty period indicated in the warranty card applies.
WHEN IS THE PROPERTY HANDED OVER?
The property is usually handed over within 7 days of signing the contract to transfer the title to the property and of paying the purchase price for the property in its full amount inclusive of VAT by the buyer (i.e. the date of payment shall mean the date when the full amount is credited to the seller's account). A hand-over certificate shall be executed upon property hand-over, to be signed by the buyer and the seller's authorised representative.
WHO WILL PAY THE REAL ESTATE TRANSFER TAX AND WHAT IS THE TAX RATE?
It is generally the seller who pays the real estate transfer tax. It is 3% of the tax base and is laid down by Act No. 357/1992 Sb. (Collection of Laws), on inheritance, gift and real estate transfer taxes. As regards new buildings (the first transfer or passage of title for consideration), the property is exempt from such tax.
HOW AND WHEN CAN I RAISE A CLAIM? WHO CAN RAISE IT?
Claims shall be raised in writing, immediately after a defect has been identified. The claim procedure is defined in the warranty guidelines, which you will receive from your personal agent. The procedure fully complies with the statutory requirements. Generally, defects caused by defective materials or unsuitable building technology will be removed by DOMOPLAN at its own expense. Any defects caused by living in or using the apartment / building shall not be covered by the warranty. The warranty shall also not cover any work performed by persons not authorised by our company during the warranty period. The claim shall be raised by the owner of the apartment / building. If defects in common areas are involved, the claim shall be raised by the caretaker or by the representatives of the Community of Owners.
HOW ARE CLAIMS RESOLVED WITHIN THE COMMUNITY OF OWNERS?
It always depends on the contract between the property caretaker and the Community of Owners. However, defects in common areas are mostly resolved by the property caretaker. Nevertheless, such claim may still be raised by a representative of the Community of Owners or by the owner of the apartment. Matters related to the maintenance of the building, such as lighting replacement, adjustment of heating modes, etc., which are to be arranged for by the building caretaker, may not be subject to a claim.