New rules for valuing real estate in Ukraine: appraisers complain that the system is not working, it is impossible to register a report
Appraisers with difficulties enter their reports into the Unified Database of the SPFU
After the launch of new rules for the assessment of real estate in Ukraine, appraisers cannot enter reports into the Unified Base of the State Property Fund. According to market players, the third day the database gives errors when trying to enter data.
Recall that in 2019, the Verkhovna Rada adopted a law that introduces a completely new approach to creating reports on the assessment of real estate.It was assumed that in case of disagreement with the results of the automatic evaluation, the evaluators will be able to compile a report and register it in the Unified Database. But as of 17:00 on February 3, such a scheme worked with errors.
According to the portal “Capital Real Estate” 100realty.ua, access to the database was limited 3 days before the innovations. Without a valid expert report, notaries refuse to register sales transactions. Transactions are now executed only according to the reports of the appraisers, which were made in advance (the report is valid for 1 month).
Related article: New rules for assessing real estate in Ukraine – what changes the new law of the Rada
The State Property Fund of Ukraine reports that “while the Service (valuation.spfu.gov.ua) is working, processes are being improved taking into account the proposals of appraisers and notaries”.
“We, together with ProZorro. Sales launched in the shortest possible time, an important and free service for entering information into the Unified database of assessment reports. Now this is the first stage of the launch, in which notaries and appraisers take part. The second stage, when each citizen of Ukraine will be able to independently take an assessment of their property from the site, will be introduced in July 2020, ”said Deputy Chairman of the State Property Fund of Ukraine Andriy Yegorov, whose words are quoted on the website of the State Property Fund.
All information that was entered by the appraisers before January 31, 2020 is transferred to the State Property Fund.
In a telephone conversation, an employee of the State Property Fund said that during the day on February 3, the relevant department received a large number of calls from all over Ukraine regarding the operation of the service.
Related article: New rules for assessing real estate in Ukraine – opinions of lawyers
Recall that Andrei Mazalov, a lawyer, managing partner of JSC Melnik, Mazalov and Partners, in a comment for 100realty.ua predicted that after the launch of the new system there will be a transition period. “I believe that in the first stages the market will freeze for a while, with an eye on the regulator – the State Property Fund of Ukraine, then the real price of real estate should be established on the market, mainly in the direction of increasing prices, then there will be a natural differentiation of prices for objects and establish fair real price. These are the laws of the market, ”the expert was sure.
