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Real estate tax in 2023
If you became a property owner at any time during 2022, you are required to file a real estate tax return by January 31, 2023. The tax return is only filed once after the property is acquired/sold/changed. Thereafter, you will automatically receive information on the amount of tax to be paid each year. The real […]
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A LOOK BACK AT THE SALE OF THE HOUSE IN LIDMAN
The sale of the house in Lidman town ended up being a coveted success, but looking back on the whole deal, I can confidently say that it was one of the most difficult transactions I have had the opportunity to deal with. And how did it all start in the first place? Every real estate […]
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The story of a house sale in Bukovice town (Nachod district)
Selling the house in Bukovice town was an unforgettable experience. It was definitely one of the harder sales, although the truth is that there are not that many easy ones, even though it might seem at first glance that every sale is exactly the same. The reality, of course, is quite different. Whether because of […]
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CURRENT SITUATION ON THE REAL ESTATE MARKET (AUTUMN 2022)
Summer is over and Prague is busy again! Even before the summer, however, the market situation was already changing, with rentals gaining momentum while sales were not as fast as they used to be in recent years. At that time, almost everything that was advertised was sold, and this situation lasted until the beginning of […]
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THE APARTMENT SALE ON ZAVADILKA HOUSING ESTATE IN THE CITY OF CESKE BUDEJOVICE
The sale of the apartment on Zavadilka housing estate in Ceske Budejovice is over. It was an incredibly rewarding real estate episode, which is worth sharing in detail. It shows that in the real estate market you can really encounter anything, that there is no shortage of coincidences, but that even if you keep believing, […]
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CONSCRIPTION, ORIENTATIONAL, REGISTRATION AND PARCEL NUMBER
Conscription number The conscription number is given before the slash and is the number that identifies each separate building of a permanent nature in the municipality. In the Czech Republic, conscription numbers are a type of house number. Compared to the orientational number, the conscription number is unique. The conscription numbers are not repeated for […]
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WHAT DOES THE TERM “ANNUITY” MEAN?
An annuity is a fixed payment for a set period of time (usually monthly). The amount is the same over the term of the annuity. An annuity consists of two parts. The first is the principal payment (mortgage), which is the amount the borrower has borrowed. The second is the interest payment, which is the […]
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PROPERTY INSURANCE X HOME INSURANCE
As far as the real estate market is concerned, you can find two basic insurances, namely property insurance and home insurance. Property insurance includes practically only the bare walls, roof, foundation, garage, etc., i.e. you are insuring the property as such. On the other hand, home insurance includes all the furnishings, including kitchen units, bathroom […]
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USABLE, FLOOR AND LIVING AREA.
You’ve probably already encountered the terms usable area, floor area, living area… Let’s make them a bit clearer! Let’s start with usable area. Usable area is the sum of the sizes of the individual rooms. It does not include balconies, loggias, cellars, terraces, etc. Usable area is measured inside the interior walls, but does not […]
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THE IMPORTANCE OF THE RESERVATION AGREEMENT
The main purpose of a reservation agreement (or also a lock-up deposit agreement) is to reserve the property for the buyer. In a properly constructed reservation agreement, the seller agrees to sell the property to the buyer on specified terms and the buyer agrees to purchase the property on specified terms. It is for these […]
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REAL ESTATE TAX IN 2022 (REGISTRATION/DE-REGISTRATION)
Did you buy a property in 2021 or make any changes related to your real estate? Then you have until Monday January 31, 2022 to file your property tax return. This is because anyone who acquired ownership of real estate in the previous year is required to file a tax return. This is even if […]
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A STORY OF THE SALE OF AN APARTMENT IN THE PISEK TOWN IN GREGOROVA STREET
As any real estate agent would say, we love this job because of its diversity. All individual cases are completely unique, because behind each of them there is a story, which of course will be reflected in the deal. And it was no different in the case of the sale of an apartment in Gregorova […]
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WHAT SHOULD I DO IF I AM UNABLE TO PAY MY MORTGAGE?
Nowadays, a significant number of property purchases are paid for with a mortgage loan. In the first half of 2021 alone, banks arranged mortgages in a similar volume as in 2016 and 2017 for the whole year, when the total volume exceeded 225 billion (CZK). Unfortunately, however, not everyone thinks ahead and has a certain […]
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APARTMENTS IN PRIVATE AND COOPERATIVE OWNERSHIP. WHAT MAKES THEM DIFFERENT?
Definition of a housing cooperative A cooperative is a company that has its own statutes and bodies (the highest body is the so-called members’ meeting, others are the board of directors and the control committee). Each cooperative may specify the rights and obligations of its members in its statutes. Members of a cooperative can be […]
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THE MOST COMMON MISTAKES WHEN SELLING A PROPERTY
Whether you are selling the property yourself or you have decided to approach a real estate agency, you always need to prepare for the selling process well in advance. While it may seem to many that it is something trivial like shopping at the mall, the truth is that it is overwhelmingly one of life’s […]
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Obligations of the selling party during the property sale
When selling real estate, the laws impose certain obligations on you. If you do not fulfil them, you risk both sanctions and the provision of an additional discount to the buyer. Income tax related to the real estate sale This tax is regulated by Act 586/1992 Coll. about income tax. On January 1st 2021, an […]
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