With the beginning of the spread of coronavirus infection COVID-19 and ban on entry into Bulgaria, which had hampered the inspection process and purchase of real estate, the market has been in standby mode.
Many have decided to postpone the purchase and to see how the situation will develop further. However, in the first weeks of a pandemic experienced investors subtly understood the situation and realized that against the background of falling demand, developers and owners will be forced to reduce the prices of their items for real buyers. It just happened.
“The owners understand that in coming months the price of resort real estate to grow just will not. So they determined to sell their items as quickly as possible and ready to give a good discount for the real buyer. Those who have money and want to invest in residential property, now is the time to act.”
The installments became increasingly offered by developers as a bonus, just not to miss a potential buyer.
How to remotely buy a property in Bulgaria?
From the beginning of April to our Agency weekly receives 3-5 requests for a remote purchase of housing from investors from Europe, Israel, Russia, Belarus and other CIS countries.
Given the growing interest in remote transaction of purchase and sale of real estate in Bulgaria in the period of the pandemic COVID-19, we decided to discuss in detail how this happens.
After reading Your wishes are working together on the list of suitable sites. We give recommendations on the pros and cons of each option, gradually excluding offers that do not meet the requirements. In the end, we stop at 2-3 priority sites and are preparing to conduct their online examination. You have the opportunity to see all the details of the object: interior, view from the window, the surrounding area, path to the sea, and ask the questions as on the usual inspection live.
When You made the final decision about buying an apartment or home by the sea on the Bulgarian coast, you can proceed to the next step.
To remove housing from the market, sign a contract on the reservation, which indicated:
- information about the object;
- information about the buyer;
- the selling price of the object;
- the end date of the transaction;
- duties and responsibilities of the parties.
Send the agreement to you by e-mail, You sign it and send us a scanned copy.
Then send the Deposit amount (usually 2000€) to the Bank account of the lawyer. Having received from you a copy of the payment document of the payment, the lawyer begins preparing all necessary documents.
Money not transferred to the seller and stored on account of lawyer.
The lawyer could represent You in the transaction, must be remotely sign a contract for the provision of legal services and issue a power of attorney for you. You can become the sole owner of the property or to indicate in a notarial deed other family members in the amount and shares that wish.
A lawyer prepared the documents, we will send you an e-mail. You assure them at the notary at the place of residence and send us the originals, which will be translated into Bulgarian language and legalized if necessary.
Meanwhile, the lawyer checks the object for legal clarity, the lack of encumbrances, contracts with third parties, mortgages, debts to utilities and the management company, etc.
The transfer of funds under the contract with the attorney can be done at the nearest operating branch of the Bank or even from the comfort of home using online banking.
When all parties agree to the transaction, upon the date of signing the final contract in the form of a notarial deed.
The lawyer sends the documents to the Notary office for a preliminary check.
On the day of the transaction again is tested on variousI am the purity of the object. The original document about absence of encumbrances from the court will be sent to you via e-mail.
On the basis of power of attorney the attorney signs a Notarial act. Carried out final calculations with the seller or his representative. Your lawyer will register you in the state courts, and utilities.
Documents that establish your right of ownership, to be sent to you by e-mail or courier service.
Congratulations! You are the lucky owner of a holiday property in Bulgaria.
See our hot deals!
”Against the backdrop of a pandemic coronavirus, and due to the fall of the ruble Russians are more willing to reduce prices in Euro, believing that he will get a lot of money. For cheap apartments from 15 000 to 25 000 € prices fell by 15-20%. Apartments from 30 000 to 45 000 € — 10-15%. On the market there are a lot of interesting proposals. Now a very good time to find a great option at an attractive price!”