In Ukraine it will be possible to sell and buy land through electronic auctions

President of Ukraine Volodymyr Zelenskyy signed a law, according to which the rules for the sale of land plots are being changed. Now one can sell land using electronic auctions. This was reported on the official website of the Verkhovna Rada.

Prior to the signing of this law, all auctions for the sale of land were held in the old manner – with the obligatory presence of each participant. Participants could raise the price by raising the bidding boards. However, electronic auctions have already proven that they can provide efficiency with small privatization. In this regard, it was decided to change the rules for the sale of land plots and allow their sale at E-auctions.

In accordance with the provisions of the law, trading will be conducted in a single trading system. All bets will be placed directly through this platform. Participants can track the current price in real time. Upon completion of the auction, an agreement is concluded that gives the winner the title to the land plot in the form in which the land was put up for auction.

The law provides for a change in the guarantee contribution for land plots. Participants will be required to deposit at least 30% of the initial value of the lot for admission to trading.