Purchase and sale of real estate require great attention to detail, careful verification of the parties and documentation. Many real estate agencies emphasize that an individual approach and support at all stages are extremely important because at any time, when conducting real estate transactions on your own, you may unintentionally commit fatal mistake, exposing yourself and your partner. How can one even talk about selling real estate remotely under such conditions? Is this possible if every step requires an eye and an eye? Surprising, but real! You can sell an apartment or a house, as well as buy it, not only in person, but also from another city or even country. To do this, it is enough to have a reliable comrade who agrees to take responsibility and represent your interests. Of course, a handshake alone is not enough to transfer authority, so you need...
Execute a power of attorney
The procedure for registering a power of attorney is quite simple. It includes a number of such stages:
- consultation with a notary. A specialist will help you decide what kind of power of attorney is needed. He will tell you about the list of documents required to formalize a power of attorney and transfer powers to your representative;
- preparation of documents. This stage should not take much time if you are responsible about your property;
- drawing a power of attorney. A notary you already know will help you correctly draw up a document to take into account all your wishes regarding the powers granted and actions that will be carried out on your behalf;
- Measure 7 times, cut once - final check. Be careful and check all the details again. Reinsurance in such cases will not be superfluous;
- signing a power of attorney;
- notarization of a document.
The algorithm of actions is quite simple, isn’t it? Upon completion of the process, you must have a certified power of attorney in your hands, and the notary must receive a fee for his work in the amount of 500 hryvnia.
Documents and their content
The notary will require from you a standard set of documents that are used for any real estate transactions:
- passport and code;
- documents confirming that a specific piece of real estate belongs to you (ownership, inheritance, deed of gift, exchange, purchase and sale agreement).
In some cases, it may also be necessary to carry out the procedure real estate assessment. If we are talking about joint ownership of property, you cannot do without a notarized agreement of the co-owners for its sale.
We move smoothly from collecting and preparing documents to issuing a power of attorney. Make sure you remember to include all of the following items:
- passport details of the parties;
- TIN of the principal and attorney;
- information about the real estate property;
- the powers and duties you assign to your attorney;
- date and place of issue of the power of attorney.
Let's take a separate look at powers. In the case of selling real estate, it is obvious what you instruct your representative to do. But many notaries recommend that in addition to the sale itself, the power of attorney also includes other actions related to real estate. It will be better if the attorney has the right to contact utility services, BTI, archives, tax and other institutions on your behalf. When concluding a transaction, unforeseen circumstances may arise, so it is worth being on the safe side so as not to cancel the agreement due to trifles and not lose profits.
Is it possible to issue a power of attorney while abroad?
A nice feature of a power of attorney is that the personal presence of an attorney is not necessary to execute it, so you can easily prepare the document even in another country. By the way, the number of attorneys is also not strictly limited. You can delegate the care of your property to several people at once. So, they will help you create a document in:
- Ukrainian consulate;
- local notary office.
In the second case, you will have to draw up a document in the language of the country in which you are located. Then it can be translated and certified in Ukraine. If possible, we recommend that you contact the consulate to avoid misunderstandings, language barriers and additional paperwork.
As for the validity period of the power of attorney, they were previously limited, but with the outbreak of the war, for the convenience of the population, the conditions changed. Now the document is only valid for as long as you need to carry out all the necessary operations, that is, the validity period of the power of attorney does not have a specific end. If you wish, you can enter the end date directly into the text of the document. We leave this decision up to you. It would be a good idea to give your attorney a little head start, allowing for unforeseen circumstances that could delay the sale process.