Catch Some Advice at the Start Line

We would like to provide you with couple of useful tips and ideas before considering getting a mortgage loan in the Czech Republic.

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Know your options before starting with the property search
You should firstly seek for the information such as max mortgage loan you can afford with your income, meeting general conditions as an expat, verifying the monthy payment loan and get crucial information about the current and future situation on the market.
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Do not speculate on meeting all the necessary conditions. Get the facts right away!
Comparing to Czech, you need to meet some of other conditions that should be verified at the beginning of the process. We will verify it for you within 48h.
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Do not underestimate having a sufficient financial reserve aside
Are you creating an investment plan for buying your dream property? Please, do not forget about the financial reserve you should have aside for upcoming months and unpredictable costs.
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Be systematic in the property search Get the facts right away!
Putting together your priorites in criteria you will be choosing the property on will make the searching process much easier and time effective.
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The longer you speculate on buying a property the more you spend on the rent
Easy thought but still overlooked by most of people speculating on the conditions change in upcoming months. Please, be aware of this blind costs that is getting more expensive with every upcoming month.

Your nationality, length of stay in the Czech Republic does not have to be such a big issue
There is always a way for processing the mortgage loan. No matter what our nationality is, how long you are in the Czech republic already, what your income is etc. And that’s why we are here for you, analyzing the market and reaching the best solution.
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Be aware of the business practises of the developer companies
We highly recommend not to sign any document with developers regarding the mortgage loan or checking your options in the banks. By signing such a document presented as „independent“ will block your/our chances to negotiate with banks through out the entire market and provide you with the better conditions comparing to developer. Let the inform you but do not sign anything, please.

Mortgage loan is more of an investment than a commitment
Yes, many people see the mortgage loan as a commitment for 30 years, the obligation you will get rid o fat the beginning of the retirement. We recommend having a look at the property purchase from a different perspective: a way of taking you from the rent = blind costs, reaching a sweet new home for your family, stand on your feet with nobody behind your back, investment with an excellent evaluation of its value and much more.

Verify the final price of the property with the seller/real estate agent
Some of the flat advertisements are including price without the real estate agent provision. The average provision is pretty significant, around 3-4%. Please, verify the final number (price) and make sure there are no hidden costs.

The mortgage loan and lien on the potential property is not an issue. You don’t have to be afraid of the lien of another bank that is connected to the property. Your loan will simply pay off the loan of the seller and the lien will be deleted and replaced for the bank financing your mortgage loan.

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