FinancingFinancing – basic information
Our company is one of the few real estate agencies which are direct contractual partners with all major banks based in the Czech market which offer property mortgage loans for private ownership (Československá Obchodní Banka, Česká spořitelna, Komerční banka, HVB Bank Czech Republic (formerly Bank Austria), GE Capital Bank and Raiffeisen Bank). In addition, we cooperate with most other banking institutions, and building and loan associations, in order to arrange for the sale of our clients’ property.
We will be happy to calculate your chances of getting a mortgage loan, using the bank’s software, or if it will be better to combine the loan with savings for building purposes.
Loans using SAVINGS FOR BUILDING PURPOSES:
- We provide you with a comprehensive set of documents for the property you choose; we will accompany you in person to visit the property.
- Our staff is trained in property financing; we can advise you about the financing options.
- After the bank’s preliminary approval of the loan, we will draw up an agreement – this agreement is signed with the property owner in the notary’s office.
- This agreement will allow you to make use of the loan.
TIME NEEDED TO ARRANGE THE LOAN: APPROX. 1 MONTH.
MORTGAGE LOANS:
- We provide you with a comprehensive set of documents for the property you choose; we will accompany you in person to visit the property.
- Our staff is trained in property financing and we can advise you about the financing options.
- After the bank approves the preliminary loan, we will draw up an agreement – this agreement is signed with the property owner at the notary’s office.
- We will provide a real estate appraisal (required by the bank) and will calculate how much money the bank will lend you (typically 70% of the appraisal value, however it may be as much as 85% in some cases). We are able to provide the appraisal within a week, as we closely cooperate with authorized experts from the banks.
- After all bank prerequisites are carried out, and the bank approves the mortgage loan, we can proceed to sign the purchase agreement and file it in the Land Registry. The banks we cooperate with, under cooperation contracts (see “Partners”), typically pay the money to the seller within a few days after the title is filed in the Land Registry. They do not usually wait until the title is entered in the Land Registry, as this takes quite a long time, especially in Prague.
TIME NEEDED TO ARRANGE THE LOAN: APPROX. 1 MONTH.
