The Buying Process in Bulgaria

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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 /Notary Act/
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 completed .

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 property.

 

         

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The Buying Process in Bulgaria