You have decided to buy an office, point of sale, enterprise or want to buy commercial property in Bulgaria to rent it out? This article provides useful tips for potential buyers-foreigners.
Features a selection of commercial premises
It's one thing to imagine what such criteria might apply to commercial space to meet the needs of Your business. However, it's another thing to find an option that would meet these requirements. We cannot rely solely on the information you found on forums, Bulletin boards, directories, real estate agencies. After all, every vendor tends to embellish the real state office, residential or retail space while hiding its shortcomings. Therefore do not throw on the best at first glance, the proposal, come to each project with a share of the bias, by asking yourself the following questions:
- What documents confirm the right of the owner to possession of the property?
- If the object for investment property in Bulgaria on the sea for rent, hotel or other detached building, what rights to use the land on which the construction of the facility?
- Not made any alterations of the premises without the consent of the relevant parties? If you do not pay attention to it before buying, then have to legalize made to the draft changes at their own expense.
Since we are talking about purchasing commercial real estate in another country, search for objects and negotiate with the sellers present certain difficulties for foreign investors. This is due to ignorance of the language, the intricacies of the law, as well as the need to stay in Bulgaria for a long time. To find a suitable object, and as far as possible to eliminate these unpleasant factors, it is wiser to use the services of local real estate agencies.
Since none of the good agent does not charge a potential buyer a fee for the search options, it is better to apply to several companies and choose the one that will quickly offer the right property. Because of this, you will significantly reduce the time of searching for a suitable facility.
What you need to pay attention when signing the contract of sale
Bulgarian law at the first stage of the procedure of purchase of real estate between the seller and the buyer sign a preliminary contract, which describes the detailed characteristics of the object, the sale price, the amount deposited by the buyer of the security Deposit. A preliminary contract has the same legal force as a contract signed by a notary. This document serves as a prelude to a bill of sale issued in a notary's office.
Before signing the main contract of sale, to verify the cleanliness, absence of encumbrances, and the legitimacy of the seller or his representative to carry out the deal. Among the most common obligations, Deposit in a credit institution and long term rentals.
The acquisition of the object in the first case is completely unacceptable. In turn, the purchase of real estate, encumbered rental, is possible, since the change of ownership does not necessarily invalidates the previously concluded lease. If the object is encumbered with a lease, you need to make a contract for the sale items, which regulate the transfer of lease payments to the new owner and refund to the tenant the security Deposit.
It is also worth considering that the transfer of ownership occurs not at the time of signing the contract at the notary, and after the state registration of real estate. According to the Bulgarian law the registration of a contract of sale must be held within 7 days after its certification by a notary.
