Buying Real Estate in Kiev

If you think purchasing real estate in the states is difficult, take a look at the buying processes used in Kiev, Ukraine. The city has some attractive areas, but the question remains: are its property buying procedures and policies quite so attractive? This article will give you some insight into just that.

Paper Work
If you want property in Kiev, be prepared to hire a good lawyer even if the fee is large; one of the greatest obstacles of buying real-estate in the city is the amount of red tape; it is only manageable with much patience and good legal representation.

Utility Bills
Something else to consider if you purchase a residence in Kiev, is that it is likely you will inherit unpaid utility bills from previous owners or renters. Whereas most apartments in the Ukraine still run on the soviet central planning system, it is not uncommon that tenants leave these unpaid statements for future residers.

Ownership Titles
Furthermore, business is conducted through personal relations. This makes it very difficult to come into the country as a foreigner and buy property. “Finding a well-connected real-estate agency is essential, as it is impossible to check the legal status of an apartment without an agency.”

There is a lack of a legal system and widespread corruption in Kiev. If a person is not careful, they can end up shoveling out thousands of dollars and signing papers for an apartment that isn’t even legal for selling! Reading this article will make any American satisfied with his own real estate polices. Although the US market sets sky high property prices, at least here at home, what is bought is actually legal!

Source: Jason Jones www.