When buying a property, one should not forget about its technical and legal condition

Real estate agencies provide clients with contractual documentation, which is prepared by a lawyer.

When buying real estate, buyers should not forget to assess the technical and legal condition. This was stated by the president of the National Association of Real Estate Agencies of Slovakia (NARKS) Ján Palenčár for TASR.

As he added, in the case of technical condition, it is necessary to formulate a procedure for detecting errors and determine fines in the case of false contractual statements by the seller. "In the case of legal condition, it is important to check ownership relationships, easements and rights of third parties," added Palenčár. According to Palenčár, it is no less important when buying a house or land to have access, access and connection to utility networks from public roads. "If these accesses are from private land, it is desirable to have this right secured by a contract on the establishment of an easement," Palenčár pointed out.

As he explained, the current legislation governing property rights to real estate (the Civil Code) clearly stipulates what a purchase contract must contain. These include, for example, the identification of the seller and buyer, the subject of the real estate, the purchase price and payment terms, the obligation to hand over and take over, and the like. “It is important to focus on many provisions of the purchase contract that are not required by law and are absent or inadequately formulated in the contracts, which gives rise to unnecessary and often long-lasting disputes,” Palenčár warned. These include, for example, problems with taking over and handing over the real estate, deregistration of permanent or temporary residence, possible environmental pollution, or legal and technical defects in the real estate. “A common problem is also the absence, or rather poor formulation, of the right to withdraw from the contract,” Palenčár added.

"With assets such as real estate, which often represents the majority of private individuals' assets, it is more than recommended to consult an expert," Palenčár warned. This is because minor errors can occur, but also serious property damage could be caused by unprofessionally written contracts. "It is easy to forget an important fact in a contract. It is a significant risk for the client," added Palenčár.

Real estate agencies provide clients with contractual documentation, which is drawn up by a lawyer. "If individuals nevertheless take the risk of a hand-written contract, we recommend strictly following the regulations of the Civil Code according to individual types of contracts. Otherwise, contracts may be invalid.

source: https://www.teraz.sk/ekonomika/pri-kupe-nehnutelnost