CENTRAL GROUP

Nadační fond pro zdraví dětí
Central Group Webpage printout:
CENTRAL GROUP a.s.
EMPIRIA building (Motokov)
Na Strži 65, 140 00 Prague 4 (right next to the subway station, Pankrác)
tel: + 420 226 222 222, + 420 226 221 111
Open: MO - FRI 8 a.m. - 7 p.m.
www.central-group.cz
info@central-group.cz


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Purchase and client request processes

CENTRAL GROUP aims to give its clients the best possible service from the first appointment through signing the contract and accommodating special requests, all the way to the delivery of the finished product. The company strives to make this process easy and enjoyable for all our clients.

Purchase process

Choose a new apartment or family house

You can choose property in the CENTRAL GROUP portfolio:

  • In the printed Overview of offers available from Central Group, where information about the company and its portfolio are updated twice annually.
  • On the website www.central-group.cz, where the status of apartments, homes and plots for sale in all locations are updated every working day. On the first day of every month, the company also presents its latest news.
  • In the Client Center, where you can get detailed information about the company’s offers, about a particular product, possible financing, prices, types of contracts, and the status of sales and reservations at various locations. It is also possible to arrange an individual tour of selected sites or Open House days.

Clients who finance the purchase of new property through basic or credit prices (see Financing opportunities) may purchase an unlimited number of properties at once. When using deferred payment, it is possible to purchase only 2 properties cumulatively under standard terms and conditions. When buying several properties at once, special individual terms and conditions apply.

Verbal reservation system

If you are interested in any apartment or house on offer, you can reserve it verbally during a personal meeting with the seller, where you will receive basic information about the product, the price, and contractual terms and conditions. If you have already received all this information, you can verbally reserve the property by e-mail or fax.

A tentative verbal reservation expires after three working days. When at the end of this period you confirm your strong intent, it is possible to reserve the property in a binding manner without having to pay any deposit or provide security for the reservation. By the end of the next working day, we will send an e-mail with a typed contract including all appendices. Or you can pick it up in person at the company’s head office. A binding verbal reservation can be applied for a maximum of seven working days, during which time the exact wording of the contract can be worked out and the contract concluded.

Concluding a contract

A contract has to be signed during the term of a binding oral reservation. Form contracts vary according to the selected financing and specific properties (see Concluded form contracts). The client’s signature must always be notarized for contracts intended for the Land Register. The notarization of the signature need not be ordered, rather it can be done close to the headquarters of CENTRAL GROUP. The dealer always gives the client the contact.

Financing options

CENTRAL GROUP offers the widest range of financing on the new housing market in the Czech Republic. They are the only developer that makes it possible for their clients to move into their completed homes under certain conditions prior to paying the purchase price. For each type of financing, the client pays only 10% of the price of the home or apartment after signing the contract. A mortgage or individual financing can be used to pay off the balance. For maximum security and safety, moreover, each client has the opportunity to make use of notarial custody for all funds paid.

For financing a home or apartment, the client can choose from three types of financing options. Basic financing supposes the entire purchase price is to be paid within 30 days of signing the contract and in the case of property under construction to completion date.Credit financing enables the purchase of a new home or apartment using a loan. There are loan advisors at the company’s head office ready to help every potential home buyer negotiate the best possible terms for becoming an actual client, entirely free of charge. Individual financing enables the client to use the property prior to paying the entire purchase price. As the only developer and construction firm on the Czech market, CENTRAL GROUP makes it possible for their clients to use their completed dwellings under certain conditions prior to paying the purchase price. The client pays only 10% of the price down after signing the contract and pays off the rest any time they wish within one year after receiving their completed dwelling.

Contacts

Seller

  • Familiarizes the client with the details of the contract, all the transferred material, the function of the Personal Web Pages and options for client changes

Consultant

  • Main contact person during the construction phase up until the transfer of the completed property
  • Discusses your choice of tiles, floor coverings and interior doors in standard and possibly premium options
  • Manages all services during construction (e.g. verifies incoming payments, provides contact to other company employees, address any issues and comments)
  • After the completion of construction, draws up the transfer protocol with you and gives you certain documents

Construction supervisor

  • discusses any requested minor changes with you on site (e.g. modifying installation layouts – changes in the electrical layout, the location of switches, sockets, partial changes in sewer and water lines, etc., or minor changes in the layout of the structure – changes in partitioning, the placement of central heating units, etc.
  • during days agreed to in advance, you can inspect the course of construction in his presence and submit forms with your comments
  • provides information about the current course of construction and the status of the apartment or house at that point

If you have any questions, please contact our

sales team or visit the company’s Client Center.

Client request process

Selection within the standard features and finishing

Every client (even those who do not require any structural changes or above-standard finishing) can choose from a wide standard selection of tile, flooring materials and interior doors within a certain period of time. This process takes place at the company Showroom with the help of a Client Service Consultant. If the client doesn’t specify his selection by a given date, it will be done by the company. Every modification is confirmed by an amendment to the Sales Contract. It is not necessary to order all changes in the form of only one amendment. In fact, it is customary to have several subsequent amendments.

Above-standard materials and finishing

The above-standard materials and finishing provide clients with a broad range of domestic or imported bathroom tile and fixtures, flooring and interior doors. Majority of this selection is handled at the company Showroom, though it is also possible to visit the showrooms of CENTRAL GROUP’s preferred suppliers. Contractor showrooms can also be used. In the event that the client chooses from a contractor showroom, an appendix for this selection still must be concluded with CENTRAL GROUP.

Client-requested alteration options

The calculated changes have been prepared by the firm’s architects and draftsmen in order to simplify and speed up the process of ordering the most commonly requested alterations and additions. They are listed, described and priced in the Client-requested Alteration Pricelist, which the client receives upon signing the contract. The calculated changes are carefully chosen to suitably complement the property in respect to its character, utilization and technical parameters. When considering structural changes, it is important to keep in mind the actual stage of construction. Therefore it is recommended that any alterations are discussed as early as possible after signing the Sales Contract.

CENTRAL GROUP also offers to realize any particular modifications according to the client’s wishes – so-called individual changes. Those can range from small alterations, for example moving or eliminating of some partitions, electrical installation changes, the mounting of heaters, etc. to more significant structural alterations especially in family houses, such as interference with the heating system, preparations for installation of some atypical technologies and so on. In case of apartments it s possible to combine two units into one larger, even a two-story one. Such major changes of course require advanced evaluation, planning and eventual pricing.

Final building approval process

Hand-over proceeding

When CENTRAL GROUP’s contractual obligations end (i.e. after the request to issue the final building approval is submitted to the local municipality,) the hand-over proceeding begins. This proceeding is initiated by the final walk-through at the building site where both the client and the Construction Supervisor are present. The goal of the inspection is to note the condition of the property and a list of touch-ups and required corrections is put together if needed along with an agreed-upon date of completion. This list of findings is used as the base for drawing up the hand-over protocol according to the Sales Contract.

The hand-over protocol is drawn up at the company offices and the client confirms taking over the property by signing it. Before the protocol is signed, the status of payment balance is verified. Immediately after signing the hand-over protocol, the client can pick up the keys to the apartment or house at the building site. At the same time he or she will receive a folder with all appropriate property documentation including certificates of quality, warranty documents and user guides to all installed devices and equipment.

The Deed of Sale, by which the property ownership right is transferred to the client, is drawn up along with the hand-over protocol. (Clients who have taken out a mortgage loan receive the property ownership right earlier.) Based on the signed Deed of Sale, the company enters the property ownership right at the land registry on behalf of the client. The proceeding takes approximately 3 months, sometimes longer.

Final building approval proceeding

Consecutively with the hand-over proceeding, the final building approval process is under way too. This is happening without any participation on the client’s side. The building department makes sure the plans and the actual building are the same and that the building meets the general expectations and norms for residential construction. The duration of the process is regulated by law and takes usually about 6 to 8 weeks from application to coming into force. In some cases the proceeding can last longer. CENTRAL GROUP has unfortunately no way of influencing this.

It is not a condition of the property’s hand-over to wait for the final building approval to come into force, but an apartment or a family house should not be occupied until after this happens. As part of the proceeding, the building department authenticates the documentation of the actual execution. A folder with this documentation is then kept in the company archive and is available to the client upon request. In case of an apartment building, the owner’s role is performed by the association of owners, and the documentation folders are kept by the designated property administrator.

Based on receiving the final building approval, CENTRAL GROUP submits a request to assign the land-registry number. The actual signage is the responsibility of the property owner, however, while CENTRAL GROUP does of course provide relevant contact information.

Tax matters

After completing the transfer of ownership to the client at the Land Registry, the client is obliged to comply with the law and file a tax return for the acquired immovable property and pay tax at the statutory rate (for all properties where there is no tax exemption). The owner of the property always pays the regular annual tax due on immovable property (formerly known as property tax), i.e. the one who possesses the title to the property on 1 January of the current calendar year. Immovable property tax is assessed as two parts, the tax on land and tax on the dwelling. The tax on the land is only paid for undeveloped properties.

Signing up for utilities and the media

Upon receiving the keys, the construction supervisor enters the status of the electricity and water meters together with the client. With the client’s consent, CENTRAL GROUP or a management company will sign up the client for media services. The client doesn’t have to worry about anything.

Client services

Personal Internet Pages

Each client who purchases an apartment or a family house from CENTRAL GROUP, gains access to his or her Personal Internet Pages. It is the most advanced system of electronic client services in the Czech housing market. The system allows the client to communicate with the Client Services Consultants, the Construction Supervisor and other associates, monitor the progress of the construction, conclude contract amendments and also rate his or her satisfaction with the company’s services.

Handling of claims and complaints

There are hundreds of process elements in the wide scope of residential construction, and a number of professions plays part in the whole job. Moreover, brick-built buildings, construction of which proceeds in the old-fashioned “wet” method, need some time to “ripen” after completion. That is a certain negative side of this type of construction, while the advantages definitely outweigh them compared to other technologies. That’s why small claims can occur in some cases. CENTRAL GROUP of course guarantees to remedy all warranted claims immediately. The company is bound to do so by the contract, the Civil Code and the Consumer Protection Law. It is worth mentioning that in all 12 years of its existence, the firm has not experienced any major problem.

Loyalty program

It frequently happens that clients who have previously bought an apartment, house or plot of land from CENTRAL GROUP come back to the company to buy another one. For these clients, or for those who buy several properties at once, the company has prepared loyalty and volume discounts. When buying a second property, the client or his family member will receive a discount of 2%, and this discount will increase by 0.5% for each additional property. For the fourth property and more, the discount will be the maximum, i.e. 3%. The discount comes in the form of vouchers for a kitchen unit or special client modifications. The above loyalty/quantity discounts will be halved if any special offer or introductory discount applies to the newly acquired property.

CENTRAL GROUP a.s.
EMPIRIA Building (right next to subway station C - Pankrác) , Na Strži 65, 140 00 Prague 4
Tel.: +420 226 222 222, +420 226 221 111 E-mail: info@central-group.cz

Note: All information and images used on this website are for reference purposes only. CENTRAL GROUP a.s. reserves the right to make changes.

© Copyright 2017 CENTRAL GROUP