How to Buy Property in Bulgaria!
Here you can find useful and important information. If you’re thinking of visiting to buy Bulgarian property, please read this carefully.
Bulgarian property is being sold in two main ways. Firstly, when clients visit us and then purchase and secondly, when clients don’t visit us and purchase remotely, from abroad. We should say here that the second option is very popular with cheap bargain Bulgarian properties that a deposit should be paid on today, as tomorrow it may be too late…
In this section we give full information on the first case buying process. The main steps for hassle-free purchase are described below:
Buying an Apartment Buying Property with Land
Summary of Buying Costs
Quite a few clients have told us they find it very difficult to get details of buying costs from other agencies. To make these clear to you, here’s a list of all the costs:
- Purchase price
- Land tax and Notary fee. Depends on value of property in the Notary Deeds
- Agency commission – Not Applicable!
- Preliminary Contract fee: EUR 250 (Max of EUR 500 if preliminary contract need’s Notary stamping)
- Translation of the Preliminary Contract from BG into ENG: EUR 20
- Company set up in Bulgaria (if needed): EUR 695. Note that one company can own a number of properties in Bulgaria
And that’s all, apart from some travel and living expenses in Bulgaria. For this, take a quantity of Bulgarian Leva with you.
We at SkiProperty.BG find Bulgarian property for sale that is so low priced that an immediate decision and fast purchase is often required. To enable our clients to secure such bargains, we offer a way of buying quickly without visiting Bulgaria. It’s called “Remote Purchase”, when you authorize us to purchase on your behalf and you are the named beneficiary on the Contract.
In this process, deposit of 10% of the purchase price is sent to us immediately and sale agreed with vendor. Unless of course you are purchasing an apartment from a developer, in which case the amounts are different to the normal property sale in Bulgaria and you pay a reservation fee of EUR 1000 normally. Please bear in mind that your deposit/reservation fee is not refundable if you decide not to proceed, for whatever reason. With the Remote purchase the legal process is usually dealt with by a lawyer nominated by our agency and known to be an experienced professional. After checking that all is in order with the property’s legal status, the solicitor sends a Letter of confirmation to the Buyer stating that all check ups have been completed and advising the client how to proceed. Then the Preliminary Contract is being signed by us as representatives of the Buyer and by the vendor at the Notary Public’s office and this way the Preliminary Contract becomes an important part of the Deeds afterwards. The original stays in our office until collection by the Buyer, with only a copy being sent. Very soon after, the balance is paid and sale completed. There is a possibility with apartments that the preliminary contract is sent to the Buyer’s address abroad and signed there and returned to Bulgaria. The preparation of the preliminary contract and the performance of all check ups on the title documents, construction documents, licenses and permissions, debts on the title, terms of contract and etc. cost 250 Euros which amount should be paid together with the reservation fee so that everything can be started straight away.
All company and other documents that will need to be signed personally will be prepared and sent to the Buyer to sign at the BG Embassy, thus making the purchase completely remote and removing much of the stress from buying.
Lastly, it’s worth mentioning that many of the very cheap Bulgarian properties are not up to “Western Standards” and will need work doing on them. Typically, this could include installation of internal WC and new bathroom, and fitting a kitchen, plus various other works. Such costs are, of course, very much reflected in the amazingly low prices.
We try to show all aspects of a Bulgarian property on our site, good and bad.
Reasons to choose SkiProperty.BG
- No viewing or visiting charges
- No agency commission!
- Genuine low local property prices
- Expert local knowledge and access to reliable building services
- After sales property care contract and letting service