How to Sell Land in the Czech Republic

Do you own land in the Czech Republic that you don’t have a use for and have decided to sell?

Then you’ll need to do more than just write an ad. This article will guide you on how to proceed with selling land, avoiding common mistakes, and getting the highest possible price.

Selling land in the Czech Republic can be done either on your own or with the help of a real estate agent. If you choose the first option, be prepared that the process of selling land might take more time, energy, and ultimately money than you thought. But if you’re ready for this reality, nothing’s stopping you. But what should you keep in mind when selling your land?

Building, weadow, field?

Not all land is the same – that’s how the first and most important point of the sale can be summarized. The potential buyer will be most interested in how they can utilize the land you have for sale. Will they be able to build a family house or a recreational facility? Or plant gardens and fruit trees? Therefore, it’s important to gather all the necessary information about the land you are selling.

You should definitely familiarize yourself with the zoning plan, which determines the possible use of the land in the Czech Republic. If you’re selling a plot that can be developed, it’s worth finding out how much of the land can be used for construction, what type of building is allowed, and other details. By the way, even for land that is earmaked as not available currently for development, there might be a possibility of its use changing in the future. So, try to inquire with the relevant Czech authorities as to whether such an option exists for your land.

If you use the services of a real estate agency to sell the land, an experienced agent will handle the entire process and the necessary information for you. This will save you a lot of time and stress.

Don’t forget

If you already have basic information about the nature of the land you’re selling, it’s time to focus on other specifications. You should know the exact area of the land, its shape, orientation, as well as any potential slope. Especially for land with development potential, the potential buyer will also be interested in the access road and existing utilities.

It’s also worth paying attention to the surroundings of the land. Selling a plot with a view of a forest is different from one next to the local factory. Also, find out whether the land is located in a flood zone, if there’s a protected forest area, power lines, or other restrictions that might complicate construction on the land.

What about land prices in the Czech Republic?

Another crucial aspect when selling land is accurately determining its price. This can be quite a challenge for a layperson. Even if you go through ads for similar plots in the given location, it doesn’t necessarily mean you’ll estimate the true market value. The prices in ads might not reflect the actual selling prices.

Online calculators for estimating land prices in the Czech Republic can be found on the internet, but here too, the best algorithm cannot replace the experience of someone who works with real estate on a daily basis. Real estate agents have access to databases that an “ordinary person” doesn’t, so they can make a better estimate. Furthermore, many real estate agencies offer a free land appraisal, if you subsequently use their services to sell.

Putting pen to paper…

If you have all the necessary information, it’s time to write the ad. Include the most important details mentioned above. And don’t forget to attach photographs or videos of the land, preferably taken by a drone, which can present the land at its best. Even if you describe the land perfectly, potential buyers will get the best idea through visual material.

The ad should then be posted on popular Czech real estate websites like sreality.cz or reality.idnes.cz, and then wait to see if any potential buyers get in touch. Unfortunately, it often happens that ads get buried among others, and you might wait in vain for a response. That’s why many people prefer to entrust the sale of their land to a real estate agency. Not only do agents know how to attract buyers through ads and set everything up correctly for a successful sale, but they also don’t rely solely on ads. They have their own client databases, and they actively search for potential land buyers. If you use professional services, read about what not to forget when drafting an exclusive contract with a real estate agency.

Now tours can begin

Of course, you should expect that potential buyers will want to see the land with their own eyes. Ideally, before taking photographs, it’s a good idea to inspect the land, possibly mow the grass, remove debris, and so on. In short, try to make the land as inviting as possible. An old car wreck or a half-collapsed shed won’t leave a good impression, even if you plan to remove them before the sale. People shop with their eyes, after all.

However, during tours, it’s certainly not advisable to hide anything from potential buyers. Any withheld information can come back to haunt you in the form of a disrupted sale or later claims and sanctions.

Administration, everywhere you look

If you have a serious buyer interested in purchasing land in the Czech Republic, it’s time to address formalities. It’s definitely worth signing a reservation agreement for the land, which should include all necessary details, including the reservation fee or the method of financing the sale. Don’t rely on your “common sense” or documents downloaded from the internet – it’s always worth using the services of a lawyer or a real estate agency, which has the necessary documents available.

Next comes the purchase agreement, where the same rules apply as with the previous document – it should always be prepared or at least reviewed by a professional. Further, you’ll need to arrange for the safekeeping of financial funds and propose the registration of ownership rights in the land registry. It’s also a good idea to write protocols about the transfer of the land.

Time, money, and energy in abundance?

Expect that the administrative work associated with selling land in the Czech Republic will be quite demanding, not only in terms of time and energy, but also for your wallet – you’ll need to pay for registration fees, contract drafting, cadastre extracts, and various other documents.

If you want to avoid unnecessary stress, it’s worth entrusting the sale of the land to professionals from a real estate agency. They will handle most formalities for you, and thanks to their experience, you can be confident that the entire transaction will go smoothly, following the appropriate Czech legislation, and you’ll receive the absolute maximum value for your land.

Some people worry about high commissions of real estate agencies. Although selling on your own and dealing with administrative tasks, lawyers, etc., might cost a bit less, you’ll have to invest a lot of time and effort with uncertain results. A quality real estate agent, with years of experience, knows how to get you a successful sale.

 

 

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!