HOW TO PURCHASE
If you're thinking of visiting the Ukraine to purchase a property, please read this section carefully before you go. There are two main ways to buy Ukrainian Property.
First, for clients who visit Ukraine and make a purchase.
Secondly, by Remote Purchase.
This second option is popular with LOWER priced property and enables people to secure a bargain and then plan their trip at leisure at a later date.
Full information on these two options are below.
YOUR PROPERTY
Select the Ukrainian properties on the web site that you would like to view and send us your details via the CONTACT US page. Our web site shows all current property and is updated constantly.
With agents throughout LVIV and WESTERN UKRAINE we are also proud to offer our clients a bespoke residential/commercial service tailored to your specific requirements. If the type of property you are looking for is not on our web site please tell us your requirements. We will make every effort to find what you require. IF WE CAN'T FIND THE PROPERTY NOBODY CAN!
YOUR VISIT
We will agree a date and time for your visit. You will need to arrange your own flights and let us know your arrival time in LVIV. From the UK our recommended fully bonded travel agent is Ukraine Travel at www.ukraine.co.uk . They can offer a full range of flight and accommodation options. Pick up from the airport/rail station and transport to your hotel can also be arranged.
We recommend that visits are conducted between Monday and Friday for a minimum period of 3 days. This allows sufficient time for viewing and for legal papers to be completed. We operate a policy that everyone involved with the company must speak ENGLISH in addition to Russian/Ukrainian.
PAYMENT
Please read this section carefully.
To make a purchase bring your cash or travellers cheques in Dollars (also bring cheque numbers) to the value of 5% of each property price. In addition add about $150 to cover initial legal and contract costs. You will of course require additional money for living costs during your visit. Credit cards are not widely accepted in Ukraine and should therefore only be considered for modest cash autobank withdrawals.
After signing the sale contract it is required to provide the transfer of other 95% of agreed sum to seller's or agency's account.
ACCOMMODATION/ TRANSPORT
We recommend Ukraine Travel as the experts in travel to the Ukraine.
Ukraine Travel have expert knowledge of all flights to the country from the UK and throughout Europe. In addition they have recommended accommodation in LVIV and WESTERN UKRAINE to suit all budgets.
Contact Ukraine Travel via www.ukraine.co.uk or 0161 652 5050.
THE BUYING PROCESS
Foreign citizens have the right to buy and own property in Ukraine. Your property rights are set out in the Constitution of Ukraine "On Ownership". The law permits owners of property (including foreign investors and joint ventures) not only to own property but also use such property for commercial purposes, lease property, and keep revenues, profits, and production derived from its use, after all necessary taxes are paid.
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If you are buying remotely or are visiting for less than 3 days, we recommend you have a Power of Attorney drawn up by your local solicitor, authorising property.com.ua Ltd to complete to complete the legal formalities in your absence. Full details will be given to visiting clients.
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Once you have chosen which property to buy, you will sign a preliminary sale/purchase agreement and pay a deposit of 5% or minimum $3000. This agreement sets out the terms of purchase, including date of full contract signing and completion. This agreement is signed in the presence of a Notary officer.
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You will be required to sign an agency agreement with us which stipulates the commission we charge for handling the sale. We will ensure your purchase is trouble free and assist you throughout the buying process.
Our fees are $1750 for property up to $30,000. 5% for all sales of property up to $150,000 then 4% on property up to $500,000. All property sales above this value have a fee of 3%. There are no hidden extra charges!
Remember, unlike other companies we offer a very personal service, unique in meeting your requirements.
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Signing of the main sale Agreement.
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Registration of the purchase with state authorities. To save buyer's time it is usually conducted by us by Power of Attorney.
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DOCUMENTS YOU NEED TO BRING
To enter into a sale-purchase agreement, you need to have the following documents:
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Your passport, and copy of birth certificate.
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Your tax payer number on the territory of Ukraine. The tax payer number on the territory of Ukraine can be obtained at the Lviv tax Administration. This can be arranged by us prior to your visit.
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If a buyer has a registered marriage and he/she has come to Ukraine without wife or husband, he/she must have the following documents:
- Marriage certificate (copy), if a buyer is married
- Legalised copy of husband's or wife's agreement to buy a property
- Husband's or wife's passport copy
BUYING COSTS
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Agency fee (dependent on purchase price)
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Pension fund levy - 1% of property price
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Government sales tax - 1% of property price.
The legal process is dealt with by a lawyer nominated by our agency and known to be an experienced professional. It's normal for the Lawyer to represent both sides, as in France, for example, and the lawyer is legally bound to be diligent. If there is the slightest irregularity in a property's paperwork, you will be advised accordingly.
It's worth noting, that to involve another solicitor is unnecessary legally and is likely only to drag out a sale. In fact, in our experience you will most likely lose the property.
Most of our Ukrainian property sales are completed within 28 days, with the odd one taking longer is some legal issue crops up. if a property title isn't 100% in order, our solicitor will cancel the sale. Fortunately this is very rare as we pre-vet properties and owners before offering for sale.
MONEY TRANSFER
Payment of funds from UK or elsewhere to Ukraine can be done through a currency specialist (as noted below) or from your local bank. You will need to fill in a "Priority Payment" or "Electronic Transfer" form and payment should take about 3 days. When you fill in the form with the Bank staff, please bear in mind that the slightest error can result in the payment not being made. This can be critical when making payment for the deadline of the Contract. So check the form carefully before signing it and give yourself plenty of time and transfer at least a week before the due date.
For the best possible exchange rates see www.foremostcurrencygroup.co.uk. They guarantee to beat high street banks and other currency companies. one further big benefit is that the company does not charge for the actual transfer of funds to Ukraine!
REMOTE PURCHASE
We find property that is so low priced that an immediate decision and fast purchase is often required. To enable our clients to secure such bargains, we offer a way of buying quickly without visiting Ukraine. It's called "Remote Purchase", when you authorise us to sign documents on your behalf and you are the named beneficiary on the Contract. A formal Power of Attorney will be needed.
In this process, you authorize us to act on your behalf. 5% of the purchase price is sent to us immediately and sale agreed with vendor. Remote purchase can be a simple and fast process, that removes much of the stress from buying. No mad rush to get to Ukraine to buy before the property is sold to another. Just call or email along with the 5% and it's yours, subject to legal process.
But please bear in mind that sending your deposit starts the legal process, with attendant costs, and your deposit will not be refundable if you decide not to proceed, for whatever reason. So, be sure that you wish to purchase. We spend a lot of time doing the initial checking of documents and drawing up of the Preliminary contract - work for which we will not get paid if you decide not to proceed (the seller gets the deposit in full, not our Agency).
If the sale falls through due to actions other than your own, such as the seller not proceeding or the solicitor terminating the process as he is not 100% happy with the documentation, then you will receive a full refund of your deposit. We don't deduct any costs, but refund in full.
As you would expect properties vary in price according to condition and location. Some properties are fully modernised and ready to live in whilst others need complete renovation, however this is reflected in the purchase price. These lower priced properties offer exceptional value for money and subject to improvement work will be a sound investment for the future. Should you require a quotation for such improvement work we have details of a number of independent registered companies and architects who would be happy to discuss your specific requirements.
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