The procedure of purchasing a flat from CTR group a.s.
Flat selection; meeting the seller
Use the offer of our company to choose a flat unit that will suit your idea, and arrange a meeting with one of our sellers. You can contact us by e-mail or by phone, or alternatively, by completing the form for a particular flat or through our website.
At a personal meeting, our sellers will answer all your questions and will give you detailed information about the project, the flat unit, standard equipment and contractual conditions.
Non-binding reservation of the flat unit is possible for 5 days after your personal meeting.
Agreements / contracts and financing
If you confirm your interest in buying the flat unit, our seller will prepare an appropriate draft agreement as per the procedure described below and will agree with you on a date for concluding the agreement.
1) Reservation Agreement – serves to reserve the unit in order to enter into the Agreement on Future Purchase and Sales Contract. The reservation period of the flat unit is determined as 30 days from concluding the Reservation Agreement and the reservation fee of CZK 115,000 incl. VAT is payable within 5 days from concluding the Reservation Agreement. If you would like to use a mortgage loan or a loan based on the building savings plan and are unsure whether you can obtain such a loan, do not hesitate to contact our mortgage consultants. They will prepare several financing variants for you, explain them and help throughout the loan approval process, all before entering into the Reservation Agreement.
2) Agreement on Future Purchase and Sales Contract – this draft agreement, together with a standard payment schedule, will be prepared by the seller based on your chosen financing method. The agreement includes but is not limited to the following annexes: draft purchase and sales agreement, description of the building and standard equipment of the unit, the procedure to be followed to perform a client change, the ground plan of the unit and a layout plan of the cellar and garage parking place locations.
Standard payment schedule::
• Additional payment to cover 20% incl. VAT of the price for the flat upon entering into the Agreement on Future Purchase and Sales Contract;
• Additional payment to cover 80% incl. VAT of the purchase price upon issuance of the certificate of occupancy for the project and upon entering into the Purchase and Sales Contract.
The possibility of arranging for notarial or bank custody is offered as standard for the additional payment(s) of the purchase price for the flat unit. In this case your funds are paid to the account of our company only after your title of ownership has been registered by the Land Registry. This possibility is also offered if the flat unit is financed through a loan.
Client changes and the construction
When the Agreement on Future Purchase and Sales Contract has been concluded, you will be contacted by our client changes personnel who will present a wide selection range of standard equipment of the flat units in our sample office, and who will discuss with you your requirements for any changes to the flat unit design. Subsequently, the client changes personnel will prepare a preliminary calculation of the changes. The following can be chosen for standard equipment: floor tiling, wall tiling, doors, floors, sanitary ceramics, etc.; another possibility is to choose from premium equipment at our contractors.
Changes to the flat unit design and changes to standard equipment can be applied no later than as at dates determined by the client changes personnel.
At the completion of the construction (usually before certificate of occupancy issuance for the building) and before signing the Purchase and Sales Contract, you will be invited to inspect the unit (the so called pre-acceptance procedure) in order to determine and put down a list of any defects and backlogs. During this pre-acceptance procedure you will have an opportunity to thoroughly check your flat unit and the quality of all work. Any defects and backlogs will be removed until the flat is handed over. When the construction is completed, the certificate of occupancy will also be issued for the building and the building will be assigned a land registry number.
The Purchase and Sales Contract can be concluded after you have obtained these documents.
The Purchase and Sales Contract; handover of the flat
Purchase and Sales Contract – draft purchase and sales contract will be prepared sufficiently in advance and will reflect your chosen mode of additional payment(s) of the purchase price for the flat. The Purchase and Sales Contract will be concluded at the registered office of our company, as at a date agreed in advance. A notary will be present to authenticate the signatures attached to the Purchase and Sales Contract. The Proposal to register the title of ownership in the Land Register will be confirmed together with the Purchase and Sales Contract.
Your new flat unit will be handed over to you as at a date agreed in advance. Upon handover, you will again inspect the quality of all work thoroughly, and an acceptance record will be made to confirm the takeover / handover of the unit. Any minor defects and backlogs found in the course of handing over the unit will be listed in the record, together with the time limit(s) for their removal.
If you find any defect(s) after the flat unit has been handed over, they will obviously be removed within the framework of the guarantee period.