Can you lose everything? Is it worth it to buy and sell apartments during the war

Immediately after the full-scale invasion, state registries were closed in order to prevent data theft and fraud. Recently, Ukrainians again got the opportunity to register the procedure for buying and selling real estate.

According to the lawyer, CEO and co-founder of the Monitor.Estate project Vladimir Kopot “Ministry of Finance”, even before the opening of the registries, homeowners tried to sell real estate.

Such sales included a large discount, so there were buyers. The market responded to demand with the emergence of schemes registration of the transfer of ownership for real estate. The parties entered into preliminary agreements and deposit agreements after registration of registers.

According to the expert, these schemes are extremely risky and have no legal consequences for both parties. Both the buyer and the seller can withdraw from the transaction.

“The real estate deposit agreement is invalid, and the preliminary one must be notarized”, Vladimir Kopot explained.

Operation of registries

The co-founder of the Monitor.Estate project added that real estate register should work from this week. How it will work in a limited way and whether it will work at all, experts do not undertake to predict. This is about:

• a ban on carrying out actions with real estate within a month after registration of ownership;
• a ban on the purchase and sale of housing by proxy;
• restrictions on the work of unscrupulous notaries;
• the ability to conduct transactions in Kyiv and the region only with local notaries.

Vice President of the Association of Professional Property Managers Anatoly Topal noted that the opening of registries is not yet appropriate. The fighting is still ongoing and can develop rapidly, and the established restrictions do not guarantee one hundred percent protection.

“By gaining access to these registries, you can conduct not very good operations. And the first to use this access will be crooks and swindlers who are already preparing to do this”Topal emphasized.

Should you buy and sell apartments?

The expert added that there are people on the market with considerable sums on hand, but they are ready to buy apartments only on the cheap – for 30-50% of the pre-war price. There are also those who in a panic sell real estate for any money, however, Anatoly Topal does not advise doing this.

“While martial law has been declared throughout Ukraine, all these sale and purchase operations are very risky. Because any agreement can be terminated in the future, given that it was concluded during martial law”he argued.

Occupiers raid housing

In the temporarily occupied Kherson, the Russian invaders are putting things in order. Now the Russian troops have taken to raiding the apartments of Ukrainians, as evidenced by the “order” leaked into the network.

The heads of housing organizations and associations of co-owners of apartment buildings (OSMD) are now required to check all tenants and their homes. Those who left Kherson are going to take away their property and settle there with their own people.

According to the information in the document, citizens from the zones of active hostilities should be brought to the city. These “temporary migrants” are planned to be settled in Ukrainian apartments. Of course, the invaders are not aware of property rights and violations of the law.

Earlier, Segodnya wrote that the Cabinet of Ministers has changed the rules for compensation for destroyed housing for Ukrainians – it will be possible to receive money for another type of real estate. Find out also how the migrants will be settled in temporary housing and what can be done with it.