- Find the property through this site.
- Reserve the property with deposit. (See notes below)
- Sign preliminary contract.
- Set up company (Necessary only if buying land or a property standing on it’s own plot.)
- Property checks carried out. (See notes below)
- Sign notary Act
- PROPERTY PASSES INTO YOUR HANDS. (See notes below)
Notes
1. RESERVATION FEES - A reservation fee may be required…but not always.
In cases where a deposit is required this will be taken as par payment of the balance.
2. As outlined in Land and Legal it is necessary to set up a Limited company in Bulgaria. MANY DEVELOPERS ARE NOW SELLING PROPERTIES AND THIS ASPECT OF THE PROCEDURE IS BEING INCLUDED IN THE PROCESS... THUS MAKING THINGS A LOT SIMPLER …LESS STRESS ..LESS WORRY ..LESS TIME
In order to purchase land or a property which stands on it’s own plot.
Do not be afraid of this or put off by it .
It is a simple process and is easy to set in motion and conclude.
with a minimum of effort on your part.
It is not necessary to set up a company if you purchase an apartment.
There are fees and conditions (see Legal see also Fees and charges) attached to company set up.
VAT is chargeable on purchases of new build property at a rate of 20% of the value as required by the Notarial Act.
A charge of 4% of the Notarial Valuation fee of the property is levied for Taxes and transfer fees.
It is the custom for buyers to pay the transfer fees and local taxes.
You will be notified of these on application and they must be paid with final payment before transfer can be completed This is a requirement which is observed by the Notary and will be adjudicated before transfer documents can be signed.
NB. The notarial valuation fee is linked to local legislative requirements and is not a reflection of the selling price of the property as advertised on the site.
Taxes, transfer fees and other charges will be added and you will be notified. once the sale has commenced,after the initial payment of deposit, to secure the property.
3. Property checks:
Check of title documents to ensure that the vendor has the right to sell the property you wish to buy (to ensure his/her ownership)
Check to ensure licenses and permissions are obtained and in order.
Check to ensure that there are no debts on the title which may adversely affect the sale.
Check of content and terms of contract.
Notary Act: must be signed in the presence of the notary, as a legal requirement of Bulgarian Law. Contact for details.
Time scales
Individual properties and purchases are each unique .
There is, therefore, no rule of thumb which can be applied to define the length of time required for the completion of a purchase
The hope is that everything will be straight forward and the sale will go through relatively quickly, but this may not always be the case (depending on the circumstances) There is however no need to worry about this or to become stressed over a situation which cannot be hurried.
Sit back and let it happen.
If you should find that your particular purchase is taking a little longer than you would like don’t worry the law is always the law and you will be protected and safe and you will be an owner.
Most property purchases will go ahead without any trouble and the process will take a remarkably short time.
Property prices.
Properties are cheap (by many European standards) but there are significant prices rises since Bulgaria’s entry to the EU AND THE SIGNS ARE THAT THEY WILL CONTINUE TO RISE.
The properties are however usually in need of some works of improvement and sometimes may require entire overhaul or even rebuild but they do represent a sound investment in a wonderful and beautiful country.
See through the cosmetic. Look beyond to the realization of the dream and enjoy what you see.
Projects of interest can be found all over Bulgaria.
4. Apartment Sales.
All apartment sales whether ready built or off plan will have their own conditions and requirements , contact us for information related to individual sales.
1. RESERVATION FEES - A reservation fee may be required…but not always.
In cases where a deposit is required this will be taken as par payment of the balance.
2. As outlined in Land and Legal it is necessary to set up a Limited company in Bulgaria. MANY DEVELOPERS ARE NOW SELLING PROPERTIES AND THIS ASPECT OF THE PROCEDURE IS BEING INCLUDED IN THE PROCESS... THUS MAKING THINGS A LOT SIMPLER …LESS STRESS ..LESS WORRY ..LESS TIME
In order to purchase land or a property which stands on it’s own plot.
Do not be afraid of this or put off by it .
It is a simple process and is easy to set in motion and conclude.
with a minimum of effort on your part.
It is not necessary to set up a company if you purchase an apartment.
There are fees and conditions (see Legal see also Fees and charges) attached to company set up.
VAT is chargeable on purchases of new build property at a rate of 20% of the value as required by the Notarial Act.
A charge of 4% of the Notarial Valuation fee of the property is levied for Taxes and transfer fees.
It is the custom for buyers to pay the transfer fees and local taxes.
You will be notified of these on application and they must be paid with final payment before transfer can be completed This is a requirement which is observed by the Notary and will be adjudicated before transfer documents can be signed.
NB. The notarial valuation fee is linked to local legislative requirements and is not a reflection of the selling price of the property as advertised on the site.
Taxes, transfer fees and other charges will be added and you will be notified. once the sale has commenced,after the initial payment of deposit, to secure the property.
3. Property checks:
Check of title documents to ensure that the vendor has the right to sell the property you wish to buy (to ensure his/her ownership)
Check to ensure licenses and permissions are obtained and in order.
Check to ensure that there are no debts on the title which may adversely affect the sale.
Check of content and terms of contract.
Notary Act: must be signed in the presence of the notary, as a legal requirement of Bulgarian Law. Contact for details.
Time scales
Individual properties and purchases are each unique .
There is, therefore, no rule of thumb which can be applied to define the length of time required for the completion of a purchase
The hope is that everything will be straight forward and the sale will go through relatively quickly, but this may not always be the case (depending on the circumstances) There is however no need to worry about this or to become stressed over a situation which cannot be hurried.
Sit back and let it happen.
If you should find that your particular purchase is taking a little longer than you would like don’t worry the law is always the law and you will be protected and safe and you will be an owner.
Most property purchases will go ahead without any trouble and the process will take a remarkably short time.
Property prices.
Properties are cheap (by many European standards) but there are significant prices rises since Bulgaria’s entry to the EU AND THE SIGNS ARE THAT THEY WILL CONTINUE TO RISE.
The properties are however usually in need of some works of improvement and sometimes may require entire overhaul or even rebuild but they do represent a sound investment in a wonderful and beautiful country.
See through the cosmetic. Look beyond to the realization of the dream and enjoy what you see.
Projects of interest can be found all over Bulgaria.
4. Apartment Sales.
All apartment sales whether ready built or off plan will have their own conditions and requirements , contact us for information related to individual sales.
