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Verification of the Real Estate Purchase Agreement
Today’s real estate market operates at a fast pace: listings appear and disappear quickly, and transactions are concluded in rapid succession. Amid this rush, buyers often neglect to review real estate purchase agreements, relying on the hope that “everything will be fine” or assuming that “it’s a notarized contract — what could go wrong?”
In reality, buying an apartment or house is not just signing papers at the notary’s office; it is a complex legal transaction where every step and every comma matters. The law does not forgive carelessness. A single poorly worded clause, an undocumented prior agreement, or a discrepancy in the price — and you may find yourself not as a property owner, but as a party to a lengthy court dispute. Recovering your money or the property may be extremely difficult.
A consultation with an experienced real estate lawyer from the law firm Dominion before signing the contract costs significantly less than years of legal proceedings. A responsible buyer always checks not only the property but also the real estate purchase agreement itself before signing.
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Why should you review the real estate purchase agreement?
- Phrases like “everything is just as we agreed” should not be trusted blindly. Many buyers put too much faith in the words of the seller, developer, or realtor, signing the agreement without thoroughly reviewing it or fully understanding its terms. The result: legal disputes, property arrests, or even loss of the real estate.
- Having a preliminary agreement or a signed contract is not a guarantee of safety. These contracts may be concluded in violation of legal requirements, without essential terms, or without the genuine intent to perform the transaction. For instance, if the property is jointly owned by a married couple, but one spouse sells it without the other’s consent, the transaction may be declared invalid — even if it was notarized.
Reviewing the agreement before signing is not a formality — it is a necessity. It is your protection — of your investment, your time, and your peace of mind.
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Types of Real Estate Purchase Agreements
Ukrainian legislation provides for several types of agreements depending on the type of real estate and the circumstances. Some require notarization, while others do not. In certain cases, ownership rights arise only in the future, with the agreement reflecting only intentions or obligations. The most common agreements include:
- Purchase Agreement for an Apartment or House on the Secondary Market
This is concluded in notarized form, after which the ownership is registered in the State Register of Property Rights to Real Estate.
Main risks: lack of spousal consent, registered occupants, utility debts.
- Purchase Agreement for Real Estate on the Primary Market
These are often in the form of: preliminary agreements, agreements on participation in construction financing funds (CFF), agreements for the purchase of property rights, forward contracts, investment agreements, etc. What unites these contracts is that you do not obtain ownership immediately, but only in the future upon meeting certain conditions—such as signing the main agreement or waiting for the developer to complete the property. These “future conditions” require special attention from the buyer.
Most of these agreements are concluded without notarization, which makes it very difficult for a non-lawyer to understand the terms, benefits, and enforceability.
Main risks: vague or non-binding clauses, lack of developer’s ownership rights, violation of essential terms, failure to conclude the main agreement.
- Purchase Agreement for a Share in Real Estate
Particularly risky in the case of many co-owners. You must consider preemptive rights of other owners and possible disputes between them.
What to Look for in a Purchase Agreement
Below are several points that always require careful review:
- Subject of the Agreement: clear identification of the property (address, area, technical condition).
- Seller’s Ownership Rights: whether the person has the legal right to sell the property.
- Consent of Other Owners or Spouse: confirmation that all required consents are in place.
- Terms of Transfer: conditions and date of transfer of ownership.
- Price and Payment Procedure: safety of payment (cash or official bank transfer), currency rate if fixed in foreign currency.
- Guarantees and Liabilities: what happens in case of breach of contract terms.
Potential Consequences
Signing a real estate purchase agreement without legal counsel may lead to serious legal and financial consequences:
1. Loss of Funds Without Gaining Ownership Rights
- The contract may lack a clear obligation to transfer the apartment.
- You could pay the money but receive neither the property nor a refund.
2. Invalidity of the Contract
- Lack of co-owner consent, violation of children’s rights, contradictions with the law, etc.
- The contract can be declared invalid by a court—even if notarized.
3. Years of Legal Disputes
- If something goes wrong, you might spend years defending your rights in court.
- During litigation, the property may be seized.
- A seized property cannot be sold or rented long-term.
What Does a Lawyer Do When Reviewing a Real Estate Purchase Agreement?
Legal analysis of the contract includes:
- Verifying compliance with the law.
- Evaluating payment terms — timing, currency, procedure.
- Analyzing transfer terms — timing, condition of the property, technical documentation.
- Reviewing rights and obligations — what you are entitled to and what you must do.
- Assessing liabilities — penalties, fines, compensation.
- Identifying risky or ambiguous wording — e.g., vague statements like “the parties agreed on everything else orally.”
Upon completion of the review, you will receive a clear and understandable conclusion with all “red flags” highlighted.
Review the Contract with a Real Estate Lawyer
A properly drafted and reviewed agreement is your best guarantee that the property will indeed become yours — and not a subject of court battles. While a notary is involved in the process, they are not your advisor and are not obligated to represent your interests.
In contrast, an experienced lawyer from Dominion Law Firm works solely to protect you. Our task is to review the contract for legal compliance, identify flaws, anticipate disputes, and alert you about potentially untrustworthy counterparties.
