Kyiv City Notary District
Notary Horburov Kirill Evgenovich
Real estate purchase and sale agreement
Contract of sale is an official document signed by the seller and the buyer of real estate when the property is transferred to the ownership of the buyer for the amount stipulated in the terms of the contract.
The main difference between the sales contract and gift contract is the recording of the transfer of property into the ownership of another subject for a certain monetary reward.
The subject of a contract of sale of real estate can be land plots, residential buildings located on them, property complexes, garages, apartments and other real estate.
Notary Horburov Kirill Evgenovich
Honored lawyer of Ukraine
Kyiv, str. Pirogov, 2
Types of sales contracts
Generally singled out basic and preliminary contract of sale real estate, which differ in status and nature of obligations.
Preliminary sales contract:
- This is the preliminary stage of the conclusion of the agreement, which fixes the general conditions of the future contract and ensures its implementation.
- It may contain terms such as the value of the property, terms of payment, terms of transfer of ownership, etc., but is not always a final document.
- It is used to secure third-party obligations and ensure the performance of a future sales contract.
Basic sales contract:
- This is the final and official document that establishes all conditions and obligations regarding the transfer of ownership of real estate.
- It is created and signed after fulfilling all the conditions of the previous contract.
- Contains complete and clear terms, including the value of the property, payment terms, terms of transfer of ownership, responsibilities of the parties and other details of the agreement.
In all cases, the sales contract is drawn up in writing and certified by a notary public.
Documents
The list of documents that must be submitted to the notary for certification of the contract of sale of real estate.
For the seller:
- Passport and identification number;
- Title documents for real estate, and if necessary, a technical passport for housing;
- Expert appraisal of real estate (conclusion);
- Marriage certificate (if the apartment was/is being purchased in marriage).
For the buyer:
- Passport and identification number;
- Passport and identification number of the buyer's wife/husband (if applicable);
- Marriage certificate (if the apartment is purchased as a married couple, in this case, the wife/husband gives a notarized consent to purchase real estate
The list of documents that must be submitted to the notary for the certification of the contract of sale of real estate depends on the type of property that will be the subject of the contract and the parties to the contract, so it is better to first contact the notary before certifying such contracts consultation regarding documents, taxation and other terms of the contract.
Risks when buying and selling
Contrary to the voluntary basis and mandatory notarization, sales contracts often become the cause of protracted civil disputes. For example, cases are common when fraudsters allegedly transfer real estate to another person, in which other people are registered or the right of ownership extends to third parties, which were not mentioned earlier. It can be relatives, legal co-owners or a landlord who will assert their rights with a demand to leave their property after the transfer of funds, and the law will be on their side, and the contract will become void.
There is also a risk that the property is not privatized, is in foreclosure, may have large utility and mortgage debts, or may turn out to be a self-build. One way or another, it is advisable to use the services of a notary in advance to prevent the loss of money.
Legal support for buying and selling
Notary Kyiv, Shevchenkivskyi district
St. Pyrogova, 2, University subway
Daily 08:00-20:00
Horburov Kirill Yevhenovich
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