This paper discusses the legal and procedural framework within which the private sector real estate market has developed in Russia and describes how transactions take place with emphasis on the contracts used. Research for this paper was conducted in 1994 and reflects the state of affairs at that time. Topics discussed are factors affecting the structure of real estate transactions, the anatomy of a real estate transaction, and contracts used in these transactions. Appendixes provide a list of documents needed for a title search, a comparison of U.S. and Russian closing fees, sample agreements from various Russian cities, and model agreements.
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