How to take the pain out of selling a property in Prague

Selling a house is stressful, whichever country you’re in. But for expats living in the Czech Republic, the process can feel even more complicated. Getting a property valuation and putting your home on the market takes time, and the potential language barrier when dealing with traditional real estate agents doesn’t help matters.

Thankfully, modern technology is paving the way for new processes that take much of the hassle out of selling. Leading the way is REINS, a local innovator operating in major cities in the Czech Republic and Slovakia, offering English-friendly services turning the usual whirlwind of home selling into a mere breeze.

Traditionally, selling a home is a long, drawn-out process with many twists and turns along the way.

First, you have to get a property valuation. This sounds simple enough, but there are various options and each has its drawbacks.

The first option is getting a professional appraiser in from a real estate agency or as a sole trader. But these valuers will charge a fee for their services, as such activities are usually their main source of income. A more accurate but even more expensive option is to hire a property valuation expert; but here, the cost of the valuation will merely detract from your sale income.

Another traditional option is getting a bank to value your home. This also incurs a fee, and what’s more, property valuers from banks tend to undervalue homes by as much as 10 to 20 percent. This is because bank appraisers take the value-inflating effects of real market demand out of consideration while valuing a home.

REINS, on the other hand, offers free property appraisals giving an accurate picture of your home’s true value. With a filled-out form and a subsequent property inspection, REINS’ experts can provide quick and accurate valuations using the company’s innovative software.

“For price evaluations, we have our own internal system; a live database which constantly monitors market conditions and what has been sold for what price. Combined with our own experience of buying and selling on the market, we can give a quick valuation which is very close to the real selling price,” said Linda Mangunda, Investment Director at REINS.

Getting your property valued is just the beginning. Next, you have to go through the traditionally stressful sales process. This usually involves months of waiting and uncertainty, and it can feel intrusive too, with photos of your home circulating on the internet and strangers arriving for viewings.

Selling through REINS cuts out all of this unpleasantness. REINS buys properties from sellers directly and immediately, so there’s no waiting around for a buyer to appear. Uncertainty about which price you’ll eventually get for your property is also removed thanks to the quick and fair valuation from REINS experts.

“This alternative way of selling your property is a game-changer, especially if you need to sell quickly and don’t want to go through the usual hassle of viewings. Just get your offer, and sell,” says Mangunda.

“People often choose to sell their property with us when they’re expecting a baby and need a bigger home, or when they’ve inherited a flat or house and want to sell quickly. REINS is also popular among people leaving the Czech Republic who don’t want to deal with the usual lengthy sale process,” she adds.

By selling to REINS, a process which normally takes months can be completed in a single week, leaving you free to move forward with ease.

Local market knowledge

REINS was created ten years ago, operating first in the Slovak capital Bratislava before expanding to Prague and Brno in the Czech Republic. Inspired by the American property sale platform opendoor.com, REINS is thinking big, and its expert team is growing.

“Our specialist traders are fluent in English, and they can advise sellers throughout the entire process. A significant proportion of our clients are expats, for whom we offer an alternative to a traditional real estate agency,” says Mangunda.

As well as facilitating quick and fair sales, REINS is also a developer, buying and renovating properties before putting them back on the market.

Amid a Czech real estate market described as “problematic” and “sluggish” by economists, REINS offers a fresh approach bypassing the usual expenses and time-draining elements of the sales process. And now’s the time to be selling in the Czech Republic, as house prices continue to rise.

“Since April, tougher conditions for getting a mortgage have come into effect, so the market has slowed down a little. But prices are still high,” Mangunda explains.

“With REINS , you have the option of a safe and seamless sale. We use modern technology as well as our in-depth knowledge of the local market to be more reliable and effective than the traditional market players.”

Selling a home is among the most important financial moves you’ll ever make. Although there’s no way to completely cut out the stress, the advent of modern technology offers a tempting alternative to the usual painful sales process, helping you get a fair deal before moving on with your life.