Purchase process
Introduction
Project location
Prague 4 – Vrbova, Ke Krči and Nad Strouhou streets, and Branické náměstí [Braník Square], cadastral territory Braník, municipality Prague, district Capital City of Prague. The project shall be realised on plots nos. 488, 489, 490 and 491, all in the cadastral territory of Braník.
Project
The project is realised on the basis of a Zoning Decision issued by the Prague 4 District Authority, Building Department, under ref. no. P4/075598/18/OST/FATU dated 22/01/2020, which came into legal force on 26/02/2020.
Name
For the Future Seller's business purposes, the name of the Project is: Bydlení Brâník [Brâník Homes]. Expected composition of the Project: the Project comprises 137 units (apartments and studios), 6 premises designated for commercial use, 15 terraced family homes, 164 indoor garage parking spaces in the garage hall in the basement, 24 outdoor parking spaces and a green courtyard. The Future Seller reserves the right to combines or separate the units or commercial premises.
The Applicant shall purchase the property on the basis of a Purchase Contract, and shall only become its owner after the ownership right relating to the property is filed in the Property Cadaster. However, a Purchase Contract can only be concluded after the project is completed and approved, which is currently expected to take place at the end of the year 2021. In order for the Applicant to secure the right the purchase the property now, they can conclude a Reservation Agreement on whose basis, and in accordance with the conditions set forth therein, the Applicant shall subsequently be invited to conclude a Contract Regarding a Future Contract, which shall contain the Future Seller's obligation to sell the property to the Applicant after the final approval, subject to the fulfilment of the conditions. However, the conclusion of the Contract Regarding a Future Contract is connected with an obligation to pay 15% of the purchase price including VAT at the appropriate rate. Therefore, it is advisable to have financing for 100% of the purchase price definitely arranged before its conclusion. If, however, the Applicant is interested in a certain unit in the Project and wants to ensure that another person does not purchase it while they are arranging the financing, they can reserve the unit. More detailed information regarding the purchase process is summarised in the following overview.
Purchase process
Verbal reservation
Reservation of an apartment or house for a period of 3 working days (by telephone, e-mail, a contact form or in person).More
Reservation Agreement (RA) - Personal
A reservation fee of70,000 CZK including VAT is payable within 5 days from the signing of the Reservation Agreement.
More
Reservation Agreement (RA) - Online
A reservation fee of50,000 CZK including VAT is payable immediately, via a payment gateway.
More
Arranging financing
An important milestone when purchasing an apartment is the securing of funds. Own sources, or with the help of a bank?More
Contract Regarding a Future Purchase Contract (CFPC)
The CFPCshall be signed after financing is arranged, and before the reservation deadline.
More
Client's choice
Before the realisation of the relevant phases of construction, they can choose from the standard features on offer.More
Construction and final approval
After the completion of the construction and the subsequent final approval, the remaining part of the purchase price shall be paid.More
Takeover of the apartment, and the Purchase Contract (PC)
After the signing of the PC, the apartment is handed over and can be moved into.More
Entry in the Property Cadaster
The ownership right is entered in the Cadaster after the expiry of the protective period from the submission of a proposal for the entry.More
Warranty periods
The warranty for the quality of the construction part of the property is 36 months. Other warranties are at the manufacturers' discretion.More
Verbal reservation
The Future Seller offers the option of making a preliminary reservation for a period of three working days. During this period, the property shall not be offered to any other person. During this period, the Applicant must conclude a Reservation Agreement. A verbal reservation can be made by telephone, e-mail, a contact form or in person.
After the expiry of the 3-day period without the conclusion of a Reservation Agreement, the property shall be offered to other applicants. There are no fees connected with a verbal reservation, and thus it can be cancelled at any time without incurring any sanctions.
The Future Seller reserves the option to not realise a verbal reservation (for example in the event of misuse of the system, such a repeated reservation without the subsequent conclusion of a Reservation Agreement, reservation of multiple apartments within the scope of the project, a reservation containing evidently false information etc.)
Reservation Agreement – personal conclusion
After a personal meeting is arranged with the seller, they shall meet the client in our sales centre. The conditions for the purchase of the property shall be explained to the client, and a Reservation Agreement shall then be concluded. The reservation fee, of 70,000 CZK including VAT, can be paid cashlessly via bank transfer, within five days from the signing of the Reservation Agreement. The Reservation Agreement shall only come into effect upon the payment of this fee. The Reservation is valid for 14 days, during which period the Applicant should definitely arrange financing.
Reservation Agreement - online conclusion
A Reservation Agreement can also be concluded online, on the website www.bydleni-branik.cz. Before concluding an online Reservation Agreement, the Applicant must familiarise themselves with:
- ^ information regarding consumer protection,
- ^ the procedure for the conclusion of a Reservation Agreement,
- ^ the course of the entire transaction
- ^ and the obligations arising from the Reservation Agreement or follow-on contracts.
The Applicant shall conclude the Reservation Agreement by entering their personal details and confirming that they are willing to conclude the Reservation Agreement; they shall then be redirected to a payment gateway where they shall be invited to pay the reservation fee. The reservation shall comes into effect upon the crediting of the payment to the Future Seller's account.
O uzavření rezervační smlouvy (a tedy i o řádné úhradě rezervačního poplatku) bude Zájemce informován elektronicky – e-mailem mu bude zaslána jeho automaticky vygenerovaná rezervační smlouva a potvrzení o nabytí její účinnosti. Rezervace trvá 14 dní, v této době by si Zájemce měl definitivně zajistit financování. Rezervujte s rozumem, nezajištění financování není důvodem pro vrácení rezervačního poplatku.
A detailed procedure for the online conclusion of a Reservation Agreement, plus all the necessary information, is described here.
An online Reservation Agreement saves you time and money
“An E-Reservation, or the online conclusion of a Reservation Agreement, is a new element of the Smart Housing concept which we tested on our two previous projects. The online reservation proved to be a success, and more than ten of our clients preferred this option. For the Bydlení Brâník project we improved the functionality even more, and expanded its use to include a so-called offline process. I.e. the client completes standard personal or telephone negotiations with the seller, then they carefully think everything over in the comfort of their home or office, and complete the entire Reservation Agreement conclusion process online.”
ERIK BŘEZINA, PROJECT MANAGER
Arranging financing
In order to simplify the apartment purchase process for you, we have prepared recommended variants of financing using only own sources. It is, of course, only a suggested procedure – we approach every client individually, and whenever possible enable you to finance the purchase any way you like. The price stated in the price list remains the same, regardless of whether the recommended procedure is used or not, and is not linked to any special conditions.
Contract Regarding a Future Purchase Contract (CFPC)
The Contract Regarding a Future Purchase Contract shall be signed after financing is secured and before the reservation deadline. It stipulates the conditions for the conclusion of the Purchase Contract itself. The main condition shall be the final approval of the Project. Within fourteen days from the signing of the Contract Regarding a Future Purchase Contract, the Applicant is obliged to pay 15% of the purchase price including VAT (the reservation fee shall be deducted from this sum) to the project account maintained by the Future Seller's financing bank.
Client's choice
Given the fact that the Project is realised on the basis of a legally effective zoning decision and building permit, we cannot allow clients to make changes which consist of the modification of the apartment. In particular, these are changes relating to construction, layout, superior interior fixtures and accessories.
However, before the realisation of the relevant phases of construction, it is possible to choose from the standard features on offer (tiles, floor tiling, doors, sanitary facilities). The Applicant can be offered the option of ordering certain above-standard equipment for the apartment (e.g. external blinds, videophone etc.) in accordance with the construction schedule.
Construction, final approval
Estimated date of completion of construction - autumn 2021.
After the final approval, the Applicant shall be invited to pay the remaining part of the purchase price to the project account maintained by the Future Seller's financing bank. Under the conditions arranged with the financing bank, the Future Seller shall arrange the deletion of the lien on the subject of the future transfer, no later than 60 days from the payment of this part of the purchase price (the proposal for the deletion shall be submitted before the proposal for the entry of the Applicant's ownership right; however, they acknowledge that for a certain short period the financing bank's lien shall still be listed in the Property Cadaster).
Takeover of the apartment and purchase contract (PC)
Estimated date – autumn/winter 2021.
The signing of the Purchase Contract shall take place after the issue of the final approval and the payment of the entire purchase price. After the signing of the Purchase Contract, the apartment shall be handed over (signing of the Transfer Protocol), and the Applicant can begin to move in. From the moment the apartment is handed over, they shall be obliged to pay all fees connected with the use of the property (and conclude contracts with service and energy suppliers).
Entry in the Property Cadaster
The Applicant's ownership right shall be entered in the Property Cadaster after the expiry of the protective period from the submission of a proposal for the entry of the ownership right in favour of the Applicant.
Warranty periods
The Future Seller shall provide the Applicant with a warranty for the construction parts of the property with a duration of thirty six (36) months, and for its fixtures and equipment with the duration specified by their manufacturers. The warranty period begins to run from the day of entry of the ownership right for the property in the relevant Property Cadaster, i.e. from the day when the proposal for the entry of the ownership right is submitted to the appropriate Cadastral Authority. The warranty period in relation to the common areas is thirty six (36) months from the day of origin of the Owners' Association, i.e. from the day of entry of the Owners' Association in the Public Register. In the case of the supply of products and equipment for the units or the common areas, the warranty period is stipulated by their manufacturers.
The procedure for the filing of a complaint is set forth in the Warranty (Complaint) Rules.