Is a reservation of a real property always binding and subject to a fee?
No, a prospective buyer can reserve a property for up to 2 days without a commitment. This can be done in person, over the phone, or by e-mail, after a viewing or a meeting with...
How is heat consumption metered in individual apartments?
A separate heat meter is installed in each residential unit.
What is the difference between individual and co-operative ownership?
In the case of co-operative ownership, the purchaser owns a share in a housing co-operative, which guarantees him a right to enter into a lease agreement for an apartment, i.e., the right to use a...
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...
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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