Real Estate Valuation is now available free of charge and without intermediaries

President Volodymyr Zelensky has signed the Law "On Amendments to the Tax Code of Ukraine on Elimination of the Corruption Scheme in the Field of Registration of Information on Real Estate Valuation Reports and Transparency of Property Realization" (No. 354-IX).

This law was adopted on December 5, 2019.

It eliminates the need to pay for the creation of certificates and real estate appraisal reports for private electronic sites. Instead, a new, simplified real estate appraisal model is being introduced: any person will be able to obtain a certificate of automatic real estate appraisal online and enter into an agreement.

In case of disagreement with the value of the real estate object determined by the module automatically, the person shall have the right to contact the subject of the valuation activity (valuer) and to carry out the valuation in general order with registration of the report in the Unified database of the valuation reports.

In addition, in accordance with the accepted changes, the authorized electronic sites will be disconnected from the Unified Database of evaluation reports. Instead, valuation entities (notaries) and notaries will receive direct, unimpeded and free access to this database.

Note that information from the Unified Database of Evaluation Reports will be open. All information about the property and its value will be automatically disclosed in open, direct unauthorized, downloadable mode - except information that constitutes the personal data of the report customer and / or the property owner.

As it is envisaged that to access, submit, verify information from the Unified Electronic Database, as well as generate electronic certificates on the expected value of the real estate is possible free of charge.

The Law shall enter into force on the day following its publication, except for clauses 2-5 of section I, which shall come into force on the first day of the month following the day of the publication by the State Property Fund of Ukraine of the decision to put into service the software of the Unified database of evaluation reports. , but not later than July 1, 2020.

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