The Buying Process in
The Buying Process in Bulgaria
Buying a property in Bulgaria is a simple and
straightforward process. We are here to help and guide you through
every stage of your purchase. There are several important steps that
must be made to purchase a property in Bulgaria and our friendly staff
will be always ready to guide you and to give you expert advice.
Buying in Bulgaria is easy and is not more or less difficult than
buying in any other foreign country. There is only one specific thing
that is to be taken into consideration and it is that according to the
Bulgarian Constitution and legislation foreign persons currently are
prohibited from owning land and can acquire only buildings but not land
on which the buildings are built.
This is easily overcome by forming a Bulgarian registered company with
you being a sole owner and director.
This law is due to be removed before EU membership in 2007 and it is
one of the main reasons that property prices are so attractive compared
with Western Europe.
Please find below the steps for buying a property:
• Visit our website
• Find a property
• Make a preliminary enquiry and get answers to all your questions
• When you are completely satisfied and sure that you really want the
property place a deposit to secure your new home. The deposit is
usually 10% of the asking price and a preliminary contract is signed.
The deposit is nor refundable in case you pull out of the deal.
• We then do detailed checks on title documents, building permissions,
debts on title, etc.
• If the property that you like to buy comes with land we start setting
up a company for you.
• After the company is formed and we have made sure that the vendor is
the legal owner of the property you now are ready for the final
transfer of ownership.
• Make an appointment with a notary and sign the Contract of Purchase
• Transfer the remainder of the funds and get the title deeds
transferred to your name.
• Become a proud owner of a property in Bulgaria.
Please note that in case of off-plan
developments the final Notary Act is not signed until the building is
Please also note than in Bulgaria there is a Tax estimation price
/similar to rateable value in UK/ which is usually several times lower
than the sale price. Because of various reasons most vendors prefer
that this lower price rather than the real sale price is written in
Title deeds. Due to this practice there might be discrepancies between
the price you are paying and the price written in title deeds
Please Click on the links below
to find out more information of specific areas of purchasing your
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Spanish information site in English http://www.spain-info.co.uk
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The Buying Process in