IMPORTANT INFORMATION FOR FOREIGNERS BUYNG A PROPERTY IN BULGARIA

At the present moment, there are some restrictions on foreigners buying land in Bulgaria. According to Bulgarian laws a foreigner, as a physical person can buy building or a part of it without buying land. The easiest way to ignore that rule is to register a limited company with a sole owner. Once the company has been registered, it can buy any kind of real estate property in Bulgaria and its owner can make all agreements refer to company’s property.

When you finally find a property to buy there are two steps of finishing the deal. According to usual practice at the first step you have to sign a preliminary contract with the owner. When you buy a land, house, apartment or other property that is already finished, a preliminary contract includes terms and conditions of the deal /prices, taxes etc./. When you buy off-plan property a preliminary contract includes conditions such as deadlines for completion of different construction works /shells, roof, electrical installation, piping, heating, communal parts of the building etc./. Payments are made in installments, according to the end of the various stages of construction. When the preliminary contract is signed you have to pay a deposit of 10 per cent of complete contractual price of the property you buy. When you buy property under construction, the deposit may be up to 30 per cent.

The second step is signing of the peremptory contract between you and the owner. According to Bulgarian laws notarial form of peremptory contract is obligatory. At the signing of the contract you have to pay the complete contractual price of the property /decreased with the amount of paid deposit/ and a part /or whole/ of the municipal and notarial taxes. When the contract is authenticated by the notary and entered in the State Agency of Entries you become owner of the property.

INTERMEDIATION IN BUYING A REAL ESTATE PROPERTY

Our employee works individually with you. You only have to submit your requirements about the property you want to buy. We will inform you for all the offers witch reply your requirements and organize an inspection of the objects that you are interested with.

When you find your property we will require full set of documents of the seller, needed for the notary transfer of ownership of the property. Also we examine the documents for presence of mortgages or other restrictions about the ownership of the property.

We protect our clients’ interests and ensure legal consultantion assistance until signing a peremptory contract, its notarial authentication and payment of the full cost of the property.

If you have bought property to let, but don’t live permanently in Bulgaria we can manage your property ensuring:

REAL ESTATE MANAGEMENT: