The risks of buying real estate in Slovakia.

Buying real estate in Slovakia may seem like a fairly simple task, but in practice, it involves a number of potential risks. Here are the main ones:

• Legal purity of the property. Before the transaction, ensure that the property is not encumbered by liens, legal disputes, or other obligations; the seller is indeed the rightful owner of the property.
• Hidden defects. The property may have technical or structural flaws that are not immediately visible, such as mold, communication defects, or unauthorized alterations.
• Incorrect purchase agreement. The contract may contain errors or terms that could put the buyer in a difficult position, such as the absence of a specified deadline for the property transfer.
• Tax obligations. Reselling the property or earning income from rent may incur tax obligations. This should be clarified in advance.
• Deal cancellation. The seller may refuse to complete the transaction after receiving the deposit if the terms of the agreement are not properly written.
• Fraud risk. Cases of document forgery, selling without the consent of all owners, or attempts to sell mortgaged property still occur.
• Problems with intermediaries. Some agencies may intentionally inflate prices or hide important aspects of the deal.

When buying real estate, it is important to carefully analyze documents and avoid rushing into signing agreements. Consulting professionals can save you significant amounts of money and help you avoid many problems.