The form of sale of an apartment building goes down in two ways:

1. The most common case is the transfer of business shares of a company, usually 100%, which is the owner of the real estate, and which was ideally founded purely for the purpose of buying a house, the often used abbreviation SPV (special purpose vehicle). The proper transfer of real estate is usually preceded by a thorough legal, tax and accounting review of the company, the so-called due diligence, which has the task of checking and removing any legal defects and doubts, such as co-ownership shares, debts or other obligations to third parties, solving the issue of deferred tax liability, splitting the company from the parent company, and concluding everything in such a way that no future risks arise for the new owner from the transferred company. The transfer of ownership takes place by registering the company and its shares in the commercial register, which are usually registered on the same day.

2. The second way is the sale of real estate. Due to the nature of this type of transfer, on the one hand, there is a lower administrative burden, less time-consuming and considerable financial savings due to the absence of company due diligence. This is naturally a more popular business method. As a rule, verification of ownership is carried out by means of an extract from the real estate cadastre, as well as a technical inspection of the property, or an accounting audit if the property is with tenants. Further determination of the terms of sale may occur in connection with the fact that the real estate is subject to any encumbrances, co-ownership or other financial encumbrances. The transfer of ownership will take place by registration in the real estate cadastre after the statutory period of 21 days, when the cadastre may not make a change. Usually, changes are made within the 25th day from the submission of the proposal for the deposit of the new owner.

The technical condition of the property is the first parameter that plays a key role in negotiating the price and finding the right investment plan. A number of investors prefer houses to be subject of reconstruction, where they can apply their development activity and skills and better modify and adapt the property in accordance with their business strategy. Houses after reconstruction, usually rented, are suitable for investors who put their properties into real estate funds as part of the offer of a conservative and long-term program for the appreciation of their clients' funds.

The purchase of an empty house is practical for a developer who intends to start the reconstruction as soon as possible and then sell it by apartment units or return the house to the rental regime, whether long-term or short-term. In the case of an occupied house, there is naturally a time delay for the reconstruction as part of dealing with the tenants. On the other hand, if the property is in good or even renovated condition, an occupied house can be an advantage if the leases are well set and the house generates an interesting annual income.

In practice, the most frequent question from an investor about the status of lease agreements in an occupied house leads precisely to the issue of lease relationships for an indefinite period with regulated rent. It is always a matter that needs to be dealt with legally and practically. Such a tenant is protected by law and it is not possible to terminate the lease as is the case with classic leases, moreover, the adjustment of the rent, which as a rule is significantly lower than the usual market rate, is subject to the law and has its upper limit. Most often, the agreement between the parties ends with a financial settlement with the tenant, or the provision of replacement housing of an appropriate standard.

The attic in the house represents valuable asset and one of the most important spaces for investors and developers and is often the subject of a thorough analysis. From the point of view of development potential, it represents an important element in the investment plan. In addition, the attic floor is the subject of the thorough analysis of the condition of the roof and other load-bearing structural elements. Another key measure is also the determination of whether it is possible to adjust the height with additional floors within the framework of the building permit and after consultation with the heritage office, if necessary. The maximum and efficient use of an attic has a considerable impact on the economy of the project.

One of the first questions often leads to the issue of the elevator and parking. Although this is not the most crucial thing that the buyer considers when investing, the aspect of parking spaces is an issue that needs to be calculated and dealt with in the case of planning a significant increase in housing units compared to the current state. The presence of an elevator in the house obviously saves costs for building a completely new one, and there is no need to worry about the issue of the possibility of building it and find the correct place. It is not always possible or easy to install an elevator in historic buildings.

Apartment buildings, especially those owned by companies, sometimes carry the financial obligations of the current owners, which were usually taken out by a bank or other loan provider for the purpose of acquiring or renovating the house, in some cases also as a lien on another property or business activity. As a rule, these obligations are settled by payment from the purchase price and occur in the cancellation of the lien on the real estate register. In some cases, when it is advantageous, the buyer decides to take over the loan. As a rule, encumbrances relate to third parties who have the right of use, passage or passage on the property, often this is, for example, the access of firemen or gasmen to units that are related to security or ensuring proper functioning. These passages must stay clear and accessible.

The property can be rented in two ways.

1. The first is a classic long-term lease with contracts usually for a fixed period (problematic contracts with regulated rent for an indefinite period, see point 4) with a classic notice period of 3 months given by law. With such a rental regime, it is usually examined how the contracts are set in terms of length, what is the amount of rent without fees, what are the costs of running the house, etc. This is a safer, longer-term and more stable rental regime. On average, an annual return of around 3-4% can be expected in this long-term model.

2. The second possibility of how the property can be economically active is the short-term rental regime. In this case, either the owner obtains the income himself as part of his business, or, in more frequent cases, the entire property is rented out to a company that individually manages short-term accommodation for a fixed amount of rent. The income for owners from the operation of short-term rentals is of course many times higher, but contracts with operators are often concluded for a period of at least 5 years. The average annual income for this model represents roughly 5-6% for the owner. In the event that the owner of the short-term accommodation business operates entirely on his own, the annual income can reach more than 8% (however, a number of operating costs are of course associated with this).

As part of the most precise estimation of the real estate price, i.e. the submission of an offer, information on the correct floor area data is the most important measure. An investor who is going to submit an offer needs to base his decision on two data, namely the total area of ​​the house and the net floor area of ​​the apartments in the house.

1. The total usable area of ​​the house represents all areas in the house, i.e. residential, non-residential and common parts of the house such as corridors, staircases, cellars and partly the attic (if it is not used). It is primarily a figure that serves as information about the size of the house and gives an approximate idea of ​​the potential scope of the reconstruction. This data should not properly be used to determine the price or be based on it for the purposes of submitting an offer to purchase.

2. Net floor area of ​​units. This is a figure that interests every investor. Net sales/lease area is also often used in the terminology to make it clear to everyone what area is involved. This includes the area of ​​units, whether residential or non-residential (excluding terraces, balconies and loggias). The data on the net floor area is one of the main data used for the economic calculation of various investment plans. Simply put, this is the most important information for an investor, as it is an area that generates profit, now and in the future. This data is therefore also very important for the overall correct valuation of the property.

The purchase of a historic apartment building, as the name itself suggests, entails a less popular phase for many, and that is communication with the National Institute for Historic Preservation. Of course, this applies in the event that you need to completely reconstruct the property. If the property is not registered on the list of cultural monuments, it is basically a "simple" process, as long as you comply with the basic requirements, especially for the exterior modifications of the house. These are the facade and the preservation of its colors, which historically belonged to the house, as well as the stucco and other decorative elements found on the house. In order to be able to reconstruct the property, you need a binding opinion from the historic preservation authorities. Another important element, which preservationists are quite rightly picky about, is the preservation of wooden casement windows. Plastic simply does not belong on a historic building.

However, in the event that the property is not only located in a heritage preservation zone, but the house has been designated as a cultural monument and is therefore historically protected, be prepared for a lot of paperwork and time-consuming. Building interventions in protected buildings cannot be done without demanding arrangements, submitting an application to the relevant authorities and carrying out work in accordance with the requirements of historical buildings preservationist.