REALITY CHECK | KRISTÝNA FALTÝNKOVÁ
Our Attorney Kristýna Faltýnková grew up in an environment of cadastral maps and project documentation, where her first work experience involved accompanying her father when surveying real estate.
Kristýna currently focuses on real estate transactions. Purchasing real estate usually represents the most significant financial decision in a person's life, yet people often use contracts downloaded from the internet or created by AI. The main problem lies in the fact that investors are often unsure of their actual requirements regarding the property.
It is crucial to understand what obligations come with purchasing real estate. When buying a share, the buyer will necessarily have to deal with other co-owners.
Building administration through homeowners' associations can present considerable complications. Kristýna strongly advises verifying the valid bylaws regarding the functioning of the HOA and studying minutes from recent meetings.
It is also essential to find out whether the homeowners' association is taking out loans. Among riskier properties are plots of land, where betting on territorial plan amendments represents one of the most dangerous investment strategies, and new construction legislation has not made the situation any easier.
The biggest myth is the vision of a self-earning property, where it is precisely important to take care of both the property itself and the tenants, which can very often bring considerable costs.
