Which parties (in addition to the buyer and seller) would normally be involved in a real estate transaction in Ukraine? What are their roles and/or duties?
The following parties are normally involved in real estate transactions in Ukraine:
- Notary – verifies the compliance of the transaction document with the requirements of the law, checks the validity of the seller’s title and encumbrances, verifies capacity of the parties to enter into transaction, certifies the contract, registers ownership change in the Rights Register and issues an information certificate from the register naming buyer as a new owner of the real estate;
- Real estate appraiser (not always mandatory) – issues valuation report that serves as a ground for application of state duty and other mandatory payments related to the transaction;
- Real estate agent (optional) – helps the parties to find a good deal;
- Parties’ lawyer(s) (optional) – structures transaction, conducts legal due diligence and other relevant checks, assists parties with signing and closing of the transaction;
- Interpreter – is involved in transactions with non-resident parties, provides written and/or oral translation of transaction documents and other materials to the parties that do not speak Ukrainian.
For those who are buying a flat, house or land plot in Lviv
This Package Includes
- one hour consultation
- due diligence of selected property
- bilingual sale-purchase contract
- deal signing and closing
Still have any questions?