How to Sell a Family House in the Czech Republic

Are you looking to sell a family house in the Czech Republic, but are unsure how to proceed? We’ve got you covered with a comprehensive guide on what needs to be arranged before selling, how to prepare the house for sale, and how to maximize the value of your property.

Selling a family house is generally a bit more complicated and can take longer than selling an apartment. After all, buyers are usually looking for a home for a lifetime, a place for their family, and that decision naturally takes more time. Furthermore, there is slightly less demand for houses in the Czech Republic compared to apartments. That’s why it’s essential not to underestimate anything. If you’re uncertain about how to sell your house, we’re here to help!

Start at the cadastre

Your first step should be a (virtual) visit to the ‘cadastre’ (the land registry of the Czech Republic). You should verify whether the information in it matches reality – from the owner to the land area and all the structures on the property. If you discover any discrepancies, such as an unapproved garage or a fence in the wrong place, it’s important to rectify everything. The relevant authorities can assist you with this.

Even though addressing such issues might require a fair amount of work, definitely don’t ignore the discrepancies. There’s nothing worse than a potential buyer who’s nearly decided to purchase your house realizing that part of the garden is actually on the neighbor’s side of the fence, or that the access path to the house is on privately-owned land, without a legal right of way. Moreover, various discrepancies could complicate the buyer’s ability to secure a mortgage.

Determining the selling price

One of the most critical steps in selling a family house is estimating its price, and this can be quite a challenge. If your asking price is too high, your offer might attract only a fraction of potential buyers. On the other hand, if the price is too low, you might have too many interested parties and then have to figure out how to raise the price in a suitable way, so you don’t upset potential buyers while still getting a price that reflects the actual value of the family house.

If you decide to estimate the price on your own, browse advertisements for similar properties for sale in your area. Just remember that in the current Czech real estate market, there might be fewer comparable ads, and you can’t always be sure if the listed price is a genuine market value. There are also paid property estimation apps, but they can often be complex for beginners. Various online calculators might not take all the necessary criteria into account.

Therefore, it’s worthwhile to entrust the price estimation to a professional, like a real estate agent or agency. Most of them offer property appraisals for free if you decide to use their services for selling. If you plan to sell the house on your own, prepare to pay around 3,000 to 5,000 crowns for a family house price estimate.

So, what actually influences the price when selling a house in the Czech Republic? Firstly, it’s essential to note that aside from the house itself, you’re also selling the land. Therefore, the price is essentially composed of two parts: the value of the building and the value of the land. Consider the location first, then the age, size, and condition of the house, and finally, evaluate the land – its size, characteristics (sloped, with a garden, just grass, etc.), potential for further construction, amenities (garage, workshop, pool, etc.). All these factors significantly impact the price, but they can be quite challenging for non-experts to assess.

House versus Home

If you have all the necessary details sorted and a set selling price for your house, it’s time to move on to its preparation for photography and viewings. If you’re not selling a brand-new building, you have some work ahead. Remember, the house should present itself in a way that prospective buyers can envision it as their home. Bare walls with peeling paint, wallpaper coming off, and mildew-covered spaces don’t make a great impression. On the other hand, a house crammed with outdated furniture from the 40s, untouched since then, won’t feel cozy either.

Clean up the house as much as possible, give it a fresh coat of white paint, and keep only the basic furnishings. Though this might seem like a lot of unnecessary work, time, money, and energy, trust that you’ll see the returns in the increased number of interested parties and potentially a higher final selling price. Pay attention to the land as well – it needs to be mowed, any clutter or junk removed, and generally tidied up.

Some companies offer what’s known as home staging – arranging your house to make it look cozy and more appealing to potential buyers. Essentially, interior designers take care of everything for you. You can find them online or get a recommendation from a real estate agent you’re collaborating with on the house sale. Real estate agencies can also provide additional advice on how to prepare your house for sale, as experienced agents know exactly what appeals to buyers.

Cast your nets

Once your house is ready for presentation, take photographs of it and prepare the listing. The pictures should clearly showcase the house’s appearance, location, and layout. It’s worth enlisting the help of a professional photographer who specializes in real estate and knows which angles work best. You might also consider adding a video tour or a virtual 3D walkthrough. An expert can assist you with these, or your real estate agent if you’re using their services. Include a floor plan in your visual materials, illustrating the layout of the house or its different levels. Potential buyers should have the most accurate idea of what the house is like.

Don’t underestimate the importance of the text in the listing. Besides all the essential technical specifications, it should be written in a way that captures the reader’s attention and conveys the atmosphere of the house. If your house or its surroundings have something interesting to offer (such as original 1930s stucco work or an amazing sunset view from the terrace), mention it!

Place your listing on Czech real estate websites and social media. Ask your friends to share it. If you entrust the house sale to a real estate agency, you’ll also tap into potential buyers from their client base, whom you wouldn’t have reached otherwise. Additionally, real estate agents in the Czech Republic undestand how best to enhance and widely promote their listings.

Get ready for visits

Potential buyers can’t make their purchasing decision based solely on your listing, and so they will definitely want to see the property in person. You can arrange individual viewings, but if there are several interested parties, you might consider hosting an open house event. Prepare to act as a guide through the house, ready to answer many questions. Communication with potential buyers is crucial – creating a pleasant atmosphere and understanding their needs will help them better appreciate the family house itself.

However, buyers aren’t the only ones who should be asking questions – it’s essential that you assess the potential buyers as well. Ideally, you should know why they’re considering purchasing the house and what specifically caught their attention in your listing. This information will allow you to present the house in a way that caters to their needs. If a young family looking for a garden to grow vegetables in and a play area for the kids is visiting, emphasizing the garden’s great features will be crucial. If an older couple seeking peace and quiet are interested, then highlighting the serene and quiet environment will be key. Also, be prepared for the fact that not everyone coming for a viewing has the intention to buy (some might simply be curious or not even looking for a property), or they might have a significantly different price expectation than you. If a real estate agent is handling the sale for you, you won’t need to worry about these formalities – they’ll take care of it all on your behalf.

Ready to Sign

Have you found a buyer you’re comfortable with, and you’ve agreed on the price, sale terms, and property financing? Fantastic! Even though it might seem like the hardest part is behind you, hold off on celebrating just yet. Administrative and legal tasks await you, which will turn the sale of the house in the Czech Republic into a reality.

It’s worth arranging for a professional technical property inspection, which will confirm that you haven’t concealed any hidden defects of the house from the buyer (this could potentially come back to haunt you in the future). Then, it’s time for the contracts. These should always come from the hands of a lawyer specializing in real estate. Never download a house sale contract from the internet! If you’re selling the property through a real estate agency, you’ll save yourself a lot of worries and often even money on lawyers and such.

You’ll also need to establish an escrow account and request the registration of ownership rights in the land registry. Additionally, a handover protocol for the house will come in handy. After completing all the administrative steps, everything is finally ready for signing.

 

 

 

Are you selling a property and want to take the hassle out of the transaction? Put the sale in the hands of our experienced real estate brokers. At Kotula Real Estate Agency, we will guide you through the entire process and make sure you get the maximum amount for your property. Contact us!