Context
A foreigner with long-term residence in the Czech Republic approached us. He had been living and working in the country for several years. He wanted to purchase property in the Czech Republic, but did not know where to begin. He first approached his bank, but his application was rejected. He then asked us for help.
Task
- Gather complete information about the client's situation and check his eligibility for a mortgage.
- Contact several banks and negotiate mortgage financing offers.
- Obtain preliminary approval of the financing limit for the client before selecting a property.
- Provide legal support during the real estate purchase process, including the purchase and sale agreement and cadastral procedures.
Legal and financial processes
- We analysed the client's situation and prepared a package of documents for submission to the banks.
- We approached several banks and received two mortgage financing offers, including one from the same institution that had initially refused.
- Following consultations, we secured preliminary approval of the financing limit for the client, enabling him to understand what kind of real estate he could afford.
- Once a suitable property had been found, we assisted with all the legal aspects of the transaction, including contracts, cadastral proceedings and re-registration.
Key point
Demonstrating to banks that the client had a stable foundation in the Czech Republic, long-term residence status and verifiable income was crucial. This helped to overcome initial objections and secure financing offers.
Result
- The client received a pre-approved mortgage limit and defined a clear budget for the purchase.
- After selecting the appropriate property, the mortgage was successfully secured.
- We provided comprehensive legal services, including cadastral record verification and purchase agreement verification.
- The client successfully purchased real estate in the Czech Republic.
“My bank rejected me and I thought nothing would work out. Thanks to the professional assistance I received, not only did I get a mortgage, but the whole process went smoothly, and today I am the owner of real estate in the Czech Republic.”
Legal and consulting areas
- Banking and financial law
- Commercial law
- Real estate law
Keywords
#mortgage #foreigner #realestate #CzechRepublic #financing
