Property fees in the Czech Republic

Property fees in the Czech Republic

The purchase price is not the only amount you will have to pay when buying property. There are a number of fees associated with the whole deal which are to be paid by the seller or buyer.

Consider different fees

You should find out what commission will fall to the estate /gency and pay attention to other fees from the very beginning so you can negotiate the best possible conditions as a buyer.

The property fees include mainly the state agency’s commissions, the cadaster transfer fee plus the costs associated with funding – credit commitment fee, valuation fee and deposit fee and the real estate tax.

Who pays the commission?

The common practice in Prague is that the estate agency commission is already in the estate purchase price, which means it is paid by the seller. Although the buyer usually pays the commission in addition to the purchase price.  However, because the estate agency is not going to stand on the side of the buyer, the payment of commission by the seller is very logical. If the commission is included in the purchase price, it can also be paid by the mortgage credit, which also benefits the buyer.

The amount of real estate commission

The amount of real estate commission typically ranges from around 2% to 3% of the purchase price. If you feel that the estate broker’s commission is too high, you can try to negotiate a lower commission together with the allowance dealings. Most estate agencies today do not have exclusive rights to offer a property, and you can therefore even try telling them that you will buy the estate through another agency.

Besides the charges associated with funding, there are also charges associated with the cadaster transfer, where you pay 1000 CZK for the entry of any document. The proposal for the ownership entry is typically paid by the state agency within the frame of its services.

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