Publication date: 05.06.2024
Selling real estate in Ukraine: why legal support of the transaction is not a luxury, but a necessity
The real estate market in Ukraine remains one of the most dynamic sectors of the economy. Despite the challenges of recent years - from the pandemic to the military conflict - Ukrainians continue to actively buy and sell housing. However, these dynamics often hide serious risks. Detailed documents, illegal redevelopment, hidden encumbrances are just the tip of the iceberg of problems that parties to the agreement may encounter. That is why support for real estate transactions becomes not just a legal service, but a guarantee of the safety of your greatest investment.
What is legal support for real estate transactions? In its simplest sense, it is a set of legal services aimed at ensuring legality and security in the purchase and sale of real estate. But in fact it is a much deeper concept. Legal support is your personal navigator in the stormy sea of the Ukrainian real estate market, where every reef can mean the loss of funds or property.
Support services for real estate transactions cover the entire transaction cycle: from preliminary inspection of the property to obtaining new title documents. Here is what is usually included in legal support:
1. Checking the legal “purity” of the object: history of ownership, presence of encumbrances, correctness of documents.
2. Analysis of the technical condition: compliance of actual planning with documents, legality of redevelopment.
3. Drawing up and analysis of the purchase and sale agreement.
4. Representation of interests at all stages of the transaction.
5. Support of settlements to ensure the safety of funds.
6. Assistance in registering property rights.
Many people think that it is enough to involve a notary, and all problems will be solved. This is wrong. Notarial support of real estate transactions is an important, but limited service. The notary certifies the authenticity of the signatures, verifies the powers of the parties and explains the contents of the agreement. But he is not obliged, for example, to go to the site to check whether the apartment meets the declared characteristics. This is where a real estate lawyer comes into the picture.
Practice shows that full support of a real estate transaction costs much less than the potential losses from an incorrectly executed transaction. Imagine that you bought an apartment without knowing that it was being remodeled illegally. After a year, you face a fine and a requirement to return everything to its original state at your expense. Or worse, you purchased a house that later became the subject of an inheritance dispute. Such cases, unfortunately, are not uncommon in Ukraine.
How much does peace and security cost? The cost of legal support for real estate transactions varies depending on the complexity of the property and the volume of services. A basic package can cost from 3,000 to 5,000 hryvnia. It includes checking documents and drawing up an agreement. The turnkey real estate transaction support service will cost more – from 10,000 to 25,000 hryvnia. But here you get the full range of protection from technical expertise to representation of your interests at every stage.
Some believe that support of real estate transactions is a luxury for wealthy buyers of luxury apartments. In fact, this service is especially important for low-cost housing transactions. Why? Because it is in this segment that problems are more common: unregistered inheritances, debts for utilities, illegal reconstruction.
When choosing a specialist for legal support, pay attention not only to the cost. Reputation and experience are more important. Ask about previous cases, read reviews. Check to see if the lawyer has experience with real estate, as this is a very specific area of law.
A good practice is to ask for a sample agreement to support a real estate transaction. This will help you understand what responsibilities the lawyer takes on, what services are included and what are not. For example, some firms offer “full support” but exclude representation in court in case of disputes.
Separate mention should be made of notary support. If you work with a lawyer, he will often work with a specific notary. This allows you to create a single team, where each specialist is responsible for their part of the process. The notary ensures the legality of the act of sale and purchase, and the lawyer ensures the purity of the previous stages.
In modern conditions, a comprehensive service is gaining popularity - support for turnkey real estate transactions. This means that you receive a full range of support from searching for a property to handing over the keys to your new apartment. This approach is especially valuable for those who do not have time to delve into the details of the process or buy real estate remotely.
It is important to understand that legal support of real estate transactions is not only protection. It's also about optimization. An experienced lawyer can tell you how to structure the agreement A solution to minimize taxes or simplify future property transactions. For example, sometimes it is more profitable to buy not the entire apartment at once, but a share with the right to buy the rest later.
In Ukraine, where real estate legislation often changes, the relevance of legal support for transactions is only growing. For example, recent changes in residence registration rules may affect utility costs. And new building energy efficiency standards may limit redevelopment options. It is the lawyer who will help you take into account all these nuances.
To summarize, legal support for real estate transactions in Ukraine is not a luxury, but a necessity. In a country where property rights are often questioned, where documents can hide unpleasant surprises, and where legislation is constantly evolving, professional support becomes the key to security. The cost of such support is not an expense, but an investment. An investment in peace of mind that your greatest purchase will not turn into your greatest disappointment.
And remember: in the world of real estate, nothing is trivial. Every document, every planning detail, every signature matters. That is why, regardless of whether you are purchasing an elite penthouse or a modest one-room apartment, legal support of the transaction is your shield and compass in the stormy sea of the Ukrainian real estate market.
