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How to check the seller of the real estate in Ukraine?

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Buying an apartment in Ukraine, you are investing your money in a promising region. But since this is a foreign country for you, with its own rules of transaction and its own risks, such a serious investment should be well prepared.

At least - to have an assistant who will know the local rules and laws, and to check not only the property, but also the seller. Today we will talk about the seller of the property and what information you need to get from him before the deal.

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Is it always necessary to have a preliminary contract of sale?

Such a contract is not always needed. Normally it is concluded when the parties need, for example, to collect some documents, or one of the parties needs more time to solve their problems. 

Important! After signing a preliminary contract you can't change the price of the apartment or the terms of its sale. 

Usually, when you sign such a contract, the buyer sends a certain amount of money - a deposit, as confirmation of his intentions. Such a deposit will remain with the seller, if the buyer decides not to buy the house. If the seller refuses to sell the apartment, the sum will be returned.

It is compulsory to have a notarized contract. Once again, note that it is not required. You can consult with a lawyer as to the necessity to make such a preliminary contract.

Related article: How to sell an apartment in Ukraine: issues of money transfers and recovery of lost documents

What documents should the seller give?

  • Original document that proves your identity - passport, ID card;

  • The original tax number;

  • The original document of title to the apartment;

  • The original information certificate from the Bureau of Technical Inventory (if the apartment was obtained as a property before 2013);

  • The original expert appraisal of the market value of the apartment;

  • The original technical passport for the apartment;

  • The original certificate of the number of registered persons in the apartment;

  • Original certificates on absence of debts for public utilities;

  • The original notarized consent of a spouse, if the seller is legally married;

  • Original marriage certificate, if there is an official marriage.

When does the seller have to get all of his belongings out of the apartment?

The question seems obvious, but it is not. Without having talked through such points before the transaction, you may be surprised to find the seller's personal belongings in your new apartment, and then even be demanded to give back such things.

This issue should be settled before you sign a purchase contract. By agreement of the parties, the apartment can be vacated before the moment of alienation and transferred at the time of signing the main contract. 

Who should pay taxes when buying real estate in Ukraine?

The seller is obligated to pay personal income tax personally and on his own behalf until the property is alienated. The buyer is obliged to personally pay the fee to the Pension Fund of Ukraine. There are also other obligatory payments when concluding a real estate alienation transaction - the fee and the cost of notary services.  

Usually the notary's services are paid in half, the calculation takes place directly at the notary. But you can change these terms by first stipulating and fixing this point in the contract.

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Who determines the price of the property and the deal?

The price of the apartment, of course, is set by the seller. But the buyer has the right to haggle and knock down the price to a reasonable limit. In this case, the transaction can be made only if there is an expert assessment of the market value of the property (which is valid for no more than 6 months).

If the contract will be specified below the value that you actually pay, then the part of the money that is not stipulated in the contract, in case of its termination or invalidation will not be returned to the buyer.

If you want to buy real estate in Ukraine, and you do not want to risk your money, contact us.

We are a reliable legal partner in Ukraine on any issues that you may have in connection with the purchase of real estate, starting a business in Ukraine, etc.

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Views: 571