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Can several properties be viewed during a single meeting?
Yes, it is possible to visit several properties during a single meeting, as long as it is logistically possible, with a view to the location of the properties in which the client is interested and...
Why must there be a condominium association? What rules apply to a condominium association?
Pursuant to the Civil Code amendment applicable from 1 July 2020, a condominium association (CA) shall be established, provided it had not been established earlier, by unit owners in a building comprising at least five...
What makes accommodation units and studios specific?
Studios are categories of non-residential units that have all the attributes of an apartment – i.e., bathroom and toilet, kitchen corner, but for reasons of hygiene regulations (noise limits, level of lighting), they cannot receive...
How are a mortgage and purchase of an apartment treated, from the point of view of common marital property? What is the procedure in the event of a divorce?
If a property is purchased during a marriage, it becomes a part of the spouses’ common property (“CP”) if the couple is married pursuant to the laws of the Czech Republic. That means that it...
Like most developers on Czech markets, GARTAL finances its projects with loans from reputable banks. This gives assurance to buyers that the construction does not depend on GARTAL’s fluctuating financial liquidity, coming from funds paid by buyers, and sufficient financing is secured from the very beginning for the construction and completion of the entire project. From the buyer’s point of view, this is the safest way to finance development, which is readily accepted by the mortgage banks of our clients – prospective buyers of properties in a specific project.
The money paid by buyers or their mortgage banks goes to a special project account controlled by the bank that has granted the project loan and GARTAL is not entitled to use the money. That way, the money cannot be abused for other purposes and is reserved exclusively for use in relation to the construction of the specific project.
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