33 Elephant and Federal notarial chamber: Safe transaction

2019: Start of Safe Transaction service

On October 30, 2019 it became known that Digital real estate agency "33 Elephants" (Mail.ru Group) and Federal notarial chamber started Safe Transaction service.

The service allows far off and in the online mode to use all list of services of the classical notary. As a result the client needs only to sign the purchase and sale agreement.

Despite more and more the developing digitalization of the real estate market of Russia, until recently the conclusion of transactions of purchase and sale of the real estate with participation of the notary it was unavailable online. For this purpose personal presence of all parties at notary office was still necessary. Of course a part of buyers and sellers still, aiming to save, are ready to conclude bargains without participation of the third parties, however the notary is the only person capable to guarantee security of the transaction, bearing responsibility for its legality.

Service of "The safe transaction" consists of six points:

• Complete verification of documents;
• Design of safe bank transfer for the apartment without the commission;
• Check of capacity to act of all participants of the transaction;
• Property right registration guarantee;
• Help in safe deposit placement;
• Guarantee of legality of the transaction

The service "The safe transaction" allows to protect all participants of the transaction in case of recognition it invalid. Also in its framework a careful inspection of the apartment regarding existence of debts will be carried out. The main distinctive feature of the transaction is an opportunity to shift all responsibility to the notary without the need for a personal meeting with him at a design stage. Additional benefit of service is its speed. So, for example, if using the traditional scheme the term of registration of the transaction can vary from 5 to 12 days, then "The safe transaction" gives the chance to register the transaction in only 1-3 days.

The service is provided within the agreement signed between real estate agency "33 Elephants" and Federal notarial chamber in September, 2019. Thanks to it all list of services of one of notarial chambers of Russia became available to clients of the agency. Providing realtors and notaries with "the effective channel of interaction" and also promotion of the concept of "one window" allowing to conclude the notarial bargain in the shortest possible time and without additional obstacles became the purpose of partnership, the CEO of the agency Vladislav Sannikov emphasized.

Creating favorable conditions for wider use of digital technologies in the real estate market of Russia was, according to the president of Federal notarial chamber Konstantin Korsik, one of main goals of signing of this partnership agreement. In turn, service start "The safe transaction" is the first step in the direction of further digitalization of the real estate market of the Russian Federation.