How to sell an apartment quickly and profitably: a step-by-step guide

For most people, selling an apartment is one of the biggest financial transactions of their life. You want to sell quickly, but you don’t want to lose money because of a badly set price, a poor presentation or a mistake in the contract. In this guide we take you step by step through the whole process – from the first valuation to handing over the keys.

1. Set a realistic market price

The price is the most important factor in how quickly an apartment sells. A price that is too high puts buyers off and the apartment “goes stale” on the property portals – after a few weeks without interest you often have to cut the price more than if you had started with the right one. A price that is too low brings a quick sale but costs you money.

You can determine the real price by comparing with apartments that have actually sold nearby, not just with asking prices in listings. The location and the specific street, the layout, floor, lift, the condition of the building and the apartment, a balcony or terrace, a cellar and parking all play a role.

If you are not sure, have the apartment valued. You can get a basic property valuation from us free of charge within 24 hours; a detailed analysis with verification of documents costs CZK 2,500.

2. Prepare the documents in advance

Missing documents are a common reason why a sale drags on unnecessarily. Prepare them before you start advertising:

• an extract from the land registry (title sheet),
• the title deed – a purchase or gift contract or an inheritance decision,
• the energy performance certificate (PENB) – it is mandatory and the energy class must be stated in the listing,
• for a cooperative apartment, the articles of the cooperative and confirmation of membership,
• a confirmation from the owners’ association (SVJ) or cooperative that you have no arrears,
• the floor plan of the apartment and any renovation documentation,
• if there is a mortgage on the apartment, the bank’s contact details and the outstanding loan amount.

A mortgage does not prevent a sale. The bank issues a confirmation of the outstanding debt, and the purchase price from escrow is first used to repay it – you receive the rest.

3. Prepare the apartment for sale

Buyers decide within the first few seconds – first when they look at the photos, then when they walk into the apartment. Investing in preparation therefore pays off more than anything else.

Small repairs and cleaning

Fix dripping taps, broken switches or loose handles, repaint in light neutral colours and clean thoroughly, including the windows. A major renovation before the sale usually doesn’t pay off – buyers want to adapt the apartment to their own taste.

Home staging

Remove personal items, excess furniture and anything that makes the apartment look smaller. Add light, textiles, plants and a few decorations. The aim is for the buyer to be able to imagine living there themselves.

4. Professional presentation and listings

Quality photos are the basis. They are taken in daylight, with a wide-angle lens and a tidy interior. Add a video tour and a floor plan – the people who then come to the viewing already know what they are looking for and decide faster.

The description should be truthful and specific: layout, floor area, floor, condition, furnishing, housing costs and what is nearby (transport, schools, shops, parks). Then publish the listing on all the main portals. We advertise properties on more than 12 platforms and also reach out to clients from our own database.

5. Viewings and negotiation

Schedule viewings in a block over one or two days – buyers see that there is interest in the apartment and decide faster. The apartment should be aired, well lit and tidy. Prepare answers to questions about running costs, neighbours, repairs to the building and the plans of the owners’ association.

When negotiating the price, don’t be thrown by the first offer. Find out how the buyer will finance the purchase – a buyer with cash or a pre-approved mortgage is a safer bet for you than one who has yet to apply for a loan.

6. Contracts and a safe transfer of money

Reservation agreement

Once you have agreed with the buyer, a reservation agreement is signed: the apartment is taken off the market for a set period and the buyer pays a reservation fee. The agreement should state clearly what happens to the fee if the purchase does not go ahead.

Purchase contract and escrow

The purchase contract should be prepared by a lawyer. The purchase price is deposited in a lawyer’s, notary’s or bank escrow account and released to you only after the new owner is entered in the land registry. This protects both parties. The application for registration in the land registry is usually filed by the lawyer, and the administrative fee is CZK 2,000.

Handing over the apartment

At the handover, draw up a handover report with the energy and water meter readings and hand over all the keys. Don’t forget to transfer or terminate your contracts with energy suppliers and to notify the owners’ association or cooperative of the change of owner.

Income tax

Income from selling an apartment may be subject to income tax. An exemption usually applies, for example, to the sale of an apartment where you had your permanent residence, or to a sale after the statutory holding period. The conditions depend on when you acquired the apartment, so we recommend consulting a tax adviser.

The most common mistakes when selling an apartment

• An inflated price “with room for a discount” – the apartment doesn’t sell for a long time and is eventually sold for less.
• Amateur photos taken on a phone at dusk – the listing gets lost among the others.
• Missing documents – the sale drags on and the buyer may withdraw.
• Accepting money without escrow – an unnecessary risk for both sides.
• Underestimating the contracts – a template from the internet may not cover your situation.

Selling an apartment with Prestige Group

We take care of the whole process: a free valuation, preparing the documents, home staging, professional photos and video, listings on 12+ platforms, viewings, negotiation, contracts by a lawyer and a secure escrow. We sell properties for up to 25% more and within 30 days. Find out more about the service on the Property sale page, and see our current listings of apartments for sale.