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Evaluation of the Apartment in Ukraine

Evaluation of the apartment


The cost of work on valuation of an apartment for selling, gifting, inheritance – from 1000 UAH.

The price of apartment’s evaluation for court or to be pledged – from 2000 UAH.

Deadline – 1-2 days. You are welcome to call!

What documents are needed to evaluate the apartment

In order to conduct an independent evaluation the service provider provides the following documents:

  1. Title deeds, which are the documents on the basis of which this apartment belongs to the owner. This may be a contract of sale, ownership, court decision, etc.
  2. Technical passport of BTI.
  3. Passport of the owner (co-owner) of an apartment or its trustee. In the case of inheritance registration it is necessary to provide a death certificate of the owner, the passport of the heir, as well as a document linking the owner and the heir (birth certificate, marriage certificate, court decision, etc.).

The list of documents for determining the value of the apartment for presentation in court may be different, you are welcome to call!

What authorizations are necessary for the evaluator?

We have all the necessary authorizations to evaluate the apartment:

  • certificate of the subject of evaluation activity of the State Property Fund of Ukraine with an open specialization «evaluation of real estate, including valuation of land parcels»;
  • personal authorizations of appraisers: qualification certificates, extracts from the State Register of Appraisers, certificates of advanced training.

The full list of authorizations for property evaluation with description and photo of each of them you can find in the section: “Valuation company”.

The expert’s evaluation of apartments is valid for 6 months.

In general, the question of the duration of documents is one of the most common. The fact is that these periods of validity in many situations are not regulated by legislation at all. And where deadlines are indicated (as in the case of assessment for taxation), lawyers need to try very hard to find the right regulatory document. That is why, in order not to waste time searching, we recommend to familiarize yourself with our article on the validity of valuation reports depending on the object and purpose of the work.

For what would you need apartment’s evaluation

Apartment buildings Kyiv Darnitsya

An independent evaluation of the accommodation is usually required in such cases:

  1. Registration of transaction on purchase and sale of an apartment, gifting or inheritance (notary).
  2. Evaluation of an apartment for court, for example, when dividing property or when inheriting by court decision.
  3. Mortgage the apartment for getting credit.
  4. Submission of documents about the evaluation of the apartment to the embassy or consulate on departure abroad.

How much will you have to pay taxes at a notary?

Real estate seller, gifted/donator or heir/testator – citizens of Ukraine (all parties to the contract)
TransactionIncome tax (PIT)Military taxPension fund
Selling apartment or house, right of ownership more than 3 years1,5%
(seller pays)
1%
(buyer’s payment)
Selling the apartment, the right of ownership less than 3 years5%
(seller pays)
1,5%
(seller pays)
1%
(buyer’s payment)
Gifting or inheritance close relatives (spouses, children, grandchildren, siblings)
Gifting real estate or inheritance except of close relatives5%
(pays the gifted or the heir)
1,5%
(pays the gifted or the heir)

More details about the amount of taxes and fees that will need to be paid by a notary at the re-registration of the apartment, you can read HERE. Of course, in this process, there are its nuances. Especially if a foreigner takes part in the transaction or in documents.

How to evaluate the apartment

According to the legislation, in all the above cases, the evaluation of an apartment means the definition market value of apartment. In order to learn how appraisers determine the cost, we recommend reading the article: “How do you determine the price of apartments”. In other words, your home costs the same as a similar home:

  • in your microdistrict – as you know, in real estate pricing the main factor is location. Therefore, when choosing objects of comparison it is extremely important to consider in the first place neighboring or approximate apartment buildings;
  • with a similar total area – despite the fact that the market value of the facility is calculated through the cost of one square meter, it is desirable for comparison and calculation when evaluating apartments to look for housing with a comparable total area. After all, as you know, even apartments in standard houses with the same number of rooms can differ significantly on this indicator;
  • with the same number of rooms – in most cases, the more rooms the apartment, the lower the cost of one square meter of such property. Therefore, for correct calculations, the appraisers select housing with the same number of living quarters. Although it should be noted that in practice this rule does not always work;
  • in a house of the same type – it is completely wrong to compare the cost of apartments in different types of houses, for example, in new buildings, “stalins” and “khrushchev”. Because the cost of a square meter even in neighboring houses of various types can vary even twice,

with adjustments:

  • floor (first, last) – in general, when evaluating apartments in Kiev on the first and last floors choose objects of comparison with the same characteristics. At the same time, it often happens that similar housing is offered for sale only on middle floors. In this case, the valuer takes into account the difference in value using the appropriate adjustments. After all, the price of sq.m. apartments on the first or last floor in the absolute majority of cases below sq.m. on the middle floor;
  • condition (level of finishing, repair) – appraisers of apartments choose objects of comparison with the same condition as the object of assessment, but in some cases it is impossible to do this. An example is an apartment in a modern house that stood without finishing, say, ten years. At a time when the whole house has long been occupied, and all other rooms have been renovated;
  • bargaining – the difference between the offer price and the sale price of real estate takes into account the so-called bid adjustment. In case of assessment of apartments in Kiev, this amendment is usually between 5 and 10%.

Features of the evaluation of the market value of the share in the apartment.

Share in the apartment

The main question in estimating the share of a dwelling (apartment or house) is whether the assessed part of the object is allocated in kind or not.

  1. The share is in kind. In the document on the ownership of the apartment or house in this case will be listed premises that belong to this co-owner. At a minimum, it must be specified which room or rooms are the exclusive property of the evaluation customer. If such information is contained in the law of establishing documents, the objects of comparison for determining the market value of real estate are announcements of offers for the sale of similar self-contained dwellings. Namely, rooms in communal apartments, rooms in dormitories, autonomous parts of residential buildings and so on. The peculiarity of such shares is that they can be sold without the consent of other co-owners of the apartment or house. In such a situation, the share allocated in kind is more liquid than a certain amount of square meters of real estate, as in the following paragraph.
  2. Share which is not allocated in kind. The cost of such a share in residential and non-residential real estate is estimated differently. Since there is no attachment of property to specific premises, the appraiser determines the market value of the whole object (evaluates the apartment) as a whole. The share value is then calculated pro rata. For example, if the cost of the apartment got 1 million UAH, and you need to estimate the share of 30%, the cost of such a share, obviously, will be 300 thousand UAH. A feature of the shares of real estate that are not highlighted in kind is a complicated scheme about their alienation. In particular, such a sale must be agreed with the neighbors – other co-owners of the entire property. In this case, the co-owner may order an assessment of the apartment or a share in it at his discretion.

Evaluation of apartment in Kyiv

Evaluation of apartment in Kyiv

Perhaps you have already faced the need of evaluation of apartment in Kyiv? If not, the following information will still be useful for you. Perhaps in the future you will want to sell or buy an apartment at an adequate price. It is in such cases that the evaluator should be consulted. Moreover, expert evaluation is needed in cases where it is necessary to take a loan under the real estate, that is, to leave it as a pledge, in cases of donation or inheritance, and if it is necessary to make a determination of the cost of housing during the judicial process or for presentation at the Embassy on departure abroad.

But, on what depends the price of the apartment? Actually from the same factors that you rate when you are looking for housing: the type of house, floor, condition, number of rooms, district. In order to understand this question, you can read our material about, how to determine the price of the apartment.

In order for the appraiser to make an independent evaluation of the apartment in Kyiv it is necessary to provide documents confirming your ownership, technical passport of BTI and passport of the owner. In some cases, for example, where it is to be determined market value real property for presentation to the court, the list of documents may be different. It often happens that the assessment is needed to file a lawsuit, and on the hands of the customer at all no documents.

As you know, to work within the law, both appraiser and organization are obliged to have a number of permits. The list of such documents, on the basis of which we conduct our professional activities, you can find in the section “Valuation company“, where not only photos of documents are given, but also description and purpose of each of them.

One of the most often question new customers have is: “What will I gain from your work?” According to the law, the result of property valuation is a report (Evaluation report). The content of this document is regulated, it is not a certificate, but a brochure, where, in addition to the very value of the market value of the property, the method of calculation of the value, baseline data, description of the object of valuation and so on. On our site you can see an example report on the evaluation of an apartment in Kyiv or a video that focuses on the design of real estate evaluation.

 


You are welcome to contact us! Our approach to work of any complexity is responsible and we perform it qualitatively and in the shortest time possible, clearly defined in advance.

 

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