How to buy a property in Bulgaria? This question arises in many of our compatriots already love this Sunny and hospitable country and now dreaming to get here residential property. At the same time is quite a serious issue, because the purchase of housing abroad involves risks and difficulties.
In this article we will answer the most relevant to potential buyers questions:
- where to start and what are the main stages of the purchase?
- What are the additional costs for the purchase of housing in Bulgaria?
- What to consider when buying a Bulgarian property?
I Hope that this information will be useful to You and will help in the implementation of a cherished dream - to own a home or apartment in Bulgaria.
the process of buying property in Bulgaria: 5 basic steps
the Procedure of purchasing residential property in Bulgaria is not as complicated as it may seem at first glance. This is especially so if you entrust this process to a reliable Agency. We are happy to help You with this. The specialists of “BolgarskiyDom” will give You a full range of professional services starting from selecting the desired object and ending with the legal registration of his ownership.
Procedure real estate acquisition lasts approximately 30 days and includes the following 5 stages.
Pre-selected options. the first step is to pick up a few alternative proposals (10-15) meet Your requirements. Our managers will find for you a proven and safe residential facilities, the most profitable from an investment point of view and precisely the relevant application descriptions.
finding trip to Bulgaria and commitment. For an adequate choice of you need to visit Bulgaria and see the property You selected. Our company will arrange for the buyers tour (3-4 days) with the show selected objects. We take care of everything including airport transfers, accommodation in a 4 star hotel, insurance, sightseeing excursions. This will help You focus and make the right choice.
the Conclusion of the reservation contract with the seller/developer and the advance payment made. once you decide the option, it is time to sign with the seller a preliminary contract, which shall include the following data: price of the transaction, details of the parties, date of signing the main contract and the penalties for violations by the parties of conditions of the contract. The document can be in two languages, Bulgarian and Russian According to the legislation of Bulgaria during the signing of the document, You pay the seller a Deposit, the amount of which is also indicated in the preliminary contract and from 1,000 to 3,000 Euros. This amount is for both parties financial guarantee for the implementation of the final transaction. In the case of Your refusal to purchase, you will lose the entire amount of the Deposit. If the transaction will give the seller, the Deposit will be returned to you double.
the signing of the main contract at the notary and complete the payment transaction. the Most important stage, which precedes the preparation of all necessary documents. On Your part required to open a Bank account and verifying the validity of the passport of the seller - provide the necessary certificates from the property registry (cadastral value and the legal purity of the object).
In the presence of the required package of documents should be the signing and notarization of the contract between the buyer and seller. This occurs after 100% payment to the seller.
Registration documents in court, the public property registry and tax authorities. Received a notarized act must be registered in the courts at the place of residence. Then within seven days in the Bulgarian BULSTAT registry of ownership, to obtain the individual code of the property owner. During the next 2 months the new owner is obliged to register with the territorial tax office.
If You are not able to be personally present at all stages of housing, you can entrust the whole process a representative from our company who will act on Your behalf on the basis of notarized power of attorney.
After completing the above 5 steps, You become the owner of real estate in Bulgaria! Time to accept congratulations!
What are the additional costs?
Planning the purchase of real estate in Bulgaria, consider that the price stated in the ad not included the tax payment of the notary fee. Be prepared for the following expenditure:
- Tax on transfer of ownership: 2-4% of the cadastral value of the object.
- Notary fees: about 1% of the market value of the property.
- registration payment in BULSTAT: 0,1% of the cadastral value.
- Payment for translation and notarization of documents: (20-100 euros).
- Agency Fees: paid by the seller.
What else do you need to take into account: surface area, layout, price
Some of the differences of the Bulgarian real estate from Russian. the first feature you will encounter when you consider the ad. Specified in which area of the flat/apartment also includes a part of the staircase, lift areas, terraces and other common areas. Do not forget to check with the seller area of this residential areas of the object.
Features-plan Bulgarian one - and two-bedroom apartments. In them there are no baths, only showers combined with toilet. In addition, in most Bulgarian cities, especially the coastal, there is no Central heating and hot water. Usually the apartments have electric heating and boiler.
Cost of apartments in Bulgaria is very different depending on what type of housing you decide to buy primary or secondary. In the latter case, you can save your money by half, but if you care about the liquidity of real estate, is to choose only an apartment in new homes. The difference is about the following: the square meter of real estate near the sea in the panel house - 1200 Euro, in the new building - 1,500 euros.
to Be sure, personal consultant, lawyer and an accredited translator of the company “BolgarskiyDom” will accompany you on the major stages of the transaction.
