"Real estate doctors" from FORTUNA REALITY s.r.o.

   This is what the director of the real estate website realitycechy.cz and realitymorava.cz called us after he heard our real estate story. That's why we thought of sharing this experience with those interested in buying and selling real estate.
     It started as usual. A person interested in selling a family home called. We agreed on a meeting right in the house. Although the house was older, built around 1932 near a relatively busy four-lane road, it was after a complete reconstruction and a later addition to the garage. The owners were Ukrainian doctors, married with a newborn child. Both worked in the Czech Republic for more than ten years. They lived in the house for one year and when their child was born, they began to perceive the noise of vehicles from the street significantly more than before. Therefore, they replaced all the glass in the windows with special anti-noise ones and installed air conditioning. It partially helped, but the result was definitely not what they imagined.
      We agreed with the owners that we will prepare a real estate appraisal of the current market price and prepare a brokerage contract for the sale of their family home.
      I am not only a real estate broker, but also a certified appraiser with a related business of real estate valuation. Our work begins with a thorough study of all entries in the real estate cadastre and a local investigation (inspection) of the given property. I discovered that the house is additionally insulated against moisture by so-called undercutting. It was done inexpertly because the perimeter support structure of the house was cracked in several places. The Ukrainian owners bought the house from the owner, who was represented by a local real estate agency, but unfortunately they themselves did not bring any experienced real estate agent or property inspector to inspect it. I also found out that in their fenced garden there is 4 m2 of foreign land owned by the city. They heard this information for the first time from me.
      Someone else's plot in their garden caused us to worry that there may be other hidden defects, hidden when we bought this property. We called the original owner with the idea that she would be helpful and willing to come to a reasonable agreement, but she did not want to talk to us at all and ended the conversation unilaterally.
      This was the initial impetus for requesting a power of attorney from the owners to inspect the building file, which is kept in the archives of the building office. Here I could photograph the entire file from 1932 and find out the entire history of this building. I found copies of the original projects before the reconstruction of the house and a lot of documents for the change of use of the building sometime in 2002. There were no documents for the reconstruction of the house at all. Subsequently, I handed over all the documentation to our lawyer for evaluation.
      The law firm's conclusion was shocking! The house that was registered in the land registry as a family house is not a family house, but it is a house where the previous owner - the city municipality - changed the way the house is used to offices and warehouses. He did not submit a proposal for change to the cadastral office and subsequently the building changed owners three times. The latter renovated the house without a building permit and sold the building to our Ukrainian clients as a family home.
      They took out a mortgage loan in good faith to buy the house, which the bank would not have granted if it had known about the change of use.
      Our contract law firm took on their representation. She wrote to the original owner, summarizing all the hidden defects and proposing a solution. The opposing party hired its own lawyer and a round of bargaining and haggling began with the final constructive conclusion of the agreement. By agreement, the Ukrainian owners obtained a discount of more than CZK 500,000 from the purchase contract of the house. In addition, the original owner undertook to buy back and then transfer 4 m2 free of charge and at her own expense arrange the change of use back to a family home.
      Our real estate agency not only had a good feeling about the work done professionally, but the Ukrainian owners fairly rewarded us for the work, even though the original plan to sell the house did not materialize.
      We are still in contact with Ukrainian clients. Everything went as we agreed and the clients promised us in their own words that they would definitely not sell their family home without our office.
      This case gives a clear deterrent example to everyone who thinks that buying or selling real estate is actually a simple business without risk, that everyone can do it themselves or through some absurd web portals in the style of "without a real estate agent".
      I think that whoever has read this article to the end will turn to a professional real estate agency that has successful "real estate doctors" like our FORTUNA REALITY s.r.o. when buying or selling real estate.


Ing. Martin Sasínek and Josef Benetka
real estate brokers - "real estate doctors"