Buyer's Guide
Buyer`s Guide As in any country, Bulgaria has its own particular legal requirements for the purchase of real estate. The purchase of an apartment is actually a straight-forward matter. The following steps are normally follows:
Step1. Reserve the property
- Having checked the apartment (house or villa) you want is available, you can reserve that property by simply filling in our form.
- At the same time with the completed form your reservation fee of ˆ 2 000 made payable to Properties Expert and the property will be taken of the market.
NOTE: Your reservation fee will be deducted from the purchase price of the property upon receipt of the first instalment.
Step2. Sign a preliminary purchase agreement and pay a deposit:
- After the property is reserved you will receive a preliminary contract.
- Return these documents to our address along with your initial instalment as detailed in the contract .
Step3. Transfer the balance amount (on separate instalments if the property is in construction) and picking up the notary deeds:
- We shall regularly update you with construction updates throughout the build process.
- Usually there is one or more interim instalment payments to be made prior to full completion of the property (in some cases, if the financial scheme allows it, instalments can be made and after the property is completed, the buyer however will have full use of the property – lease options).
- Prior to all construction being completed, you will be notified when your final instalment is due.
- Upon completion of the property and payment of the final instalment, the transfer of title can take place.
- In order to take delivery of your property, you will need to sign the ‘Notary Act’. This is a standard form document transferring ownership of the property into your name.
- Normally, the client should come to Bulgaria to sign and pick up the notary deeds personally. However deals can be completed in the client’s absence by using Power of Attorney.
It is also possible to purchase an apartment in an apartment building and also receive a pro rata, but not specifically identified, portion of the land on which the building stands. However, as foreigners cannot legally own land in Bulgaria, this requires the formation of a Bulgarian company. If you would like to explore this possibility, we`ll provide assistance in creating the company and completing the necessary formalities.
We are here to help and organize the whole process of acquisition for you from the start to the very end. The service will be undertaken by a Bulgarian lawyer, expert in Bulgaria real estate and specialists who will provide you with a professional help in the field you need, including:
- Registrations of mixed and foreign companies;
- The best relation between price and quality of real estate achieved by professional negotiations;
- Property management and real estate maintenance;
- Travel arrangements when arranging viewings of Bulgaria real estate;
- Own cars for visits to real estates in the country;
- Advice on any topic that intrigues your attention
• 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.
• 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.
• 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.
NOTE: The reservation fee is not refundable if you do not proceed with the purchase of property!
