NEW LAW ON REAL ESTATE VALUATION: PROPERTY VALUERS

Property Valuers signed a new law regarding the valuation of real estate and changes in the scheme, which has long been recognized as corrupt. We are talking about the registration of property data on special electronic platforms. Previously, it was necessary to pay money for this service and the process of registration and receiving reports was delayed for a long time.

It means that:

– Now the process of concluding real estate transactions will be much faster.

– The need to obtain certificates only on the electronic platform has been eliminated.

– Every citizen of Ukraine will be able to get a certificate of automatic property valuation quickly and at no extra cost.

Let’s take a closer look at the new law. The deputies themselves proclaimed the long-term goal of the new law: it is designed to improve the investment climate in Ukraine and simplify the real estate appraisal procedure.

Based on this law, there was no need for intermediaries – electronic platforms – through which it was previously required to register a report on the valuation of a property, and receive a certificate of registration, without which a transaction could not be carried out at a notary.

The new property valuation model has become much simpler: now every property owner gets access to a single database of property valuation reports. With the help of an automatic module, a property owner can order a quick valuation of their property online and receive a certificate of market value. Such an online certificate has full legal force and can be used when concluding transactions. If the property owner does not agree with the results of the automatic assessment, he has the right to contact the appraisers and receive a report on the assessment of his property in a standard form, as it was before.

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