The real estate market in Slovakia is constantly growing. There are numerous on-going residential projects, a favorable interest rate is offered for mortgages and the number of real estate agencies is rising. Real estate due diligence in Slovakia is a necessary instrument for minimizing the risk of purchasing a property from a non-owner or with legal defects. Real estate due diligence implies the historical review of title transfers and it is advisable to cover at least the previous ten years. The real estate legislation in Slovakia was recently amended and financial compensation is offered to those affected by misconduct or errors.
If you need professional real estate due diligence services, you can rely on the help of our experts in company registration in Slovakia.
Before completing a property acquisition, any individual or Slovak company should undertake a real estate due diligence. This procedure usually includes technical, legal and environmental due diligence. Real estate due diligence in Slovakia includes the following:
• The historical restitution clearance and the chain of property titles;
• Environmental impact assessment, exemptions from agricultural land fund and different zoning and permits;
• Supply agreements and utility connections;
• Technical status of buildings and construction warranties;
• Litigation and tax clearances;
• Tenant relations;
• Corporate and financial status if the property is owned by a legal entity.
It is common practice that real estate due diligence is performed by professional Slovak lawyers, auditors and technical advisors. If you start a company in this country and are requested to undergo real estate due diligence, you can turn to the expertise of our Slovakia company formation team of advisors.
Besides the above mentioned areas covered by real estate due diligence in Slovakia, several other technical and legal aspects are looked into. These include:
• Title due diligence – it is required irrespective of the investment phase;
• Public roads access due diligence;
• Due diligence on permits (construction permits, business permits, energy permits);
• Due diligence on the share purchase agreement;
• Company due diligence;
• Technical due diligence for the project documentation;
• Due diligence on current and future leases.
If you find yourself in need of company due diligence or real estate due diligence, don`t hesitate to contact our agents in company formation in Slovakia. They will provide you with a personalized due diligence offer.