How to Buy

For simplification and better understanding, we explain the sale process in four stages:

CHOOSE A PROPERTY

You can select from our regularly updated website properties that fit your specific requirements and wishes. If you need more information or have any questions, please do not hesitate to contact us. Our professional team will provide you with high quality and friendly service in all matters associated with property.
After you have made the decision to inspect certain properties we will organize viewing trips.We can arrange your flight, accommodation and car hire.



SIGN A PRELIMINARY CONTRACT

When you have decided on the property you want to buy you could sign a preliminary contract. The preliminary contract is needed to reserve the desired property. It will be signed between the seller and you or a person authorized by you. This is a necessary step so that the seller can prepare all the documents for the sale – the plot and the valuation by the tax authorities. We strongly recommend you to sign such a contract and pay 10% of the asking price of the estate in order to be removed from the market.
According to the Bulgarian Constitution, foreign individuals can acquire buildings but not land. Therefore the most common practice for non-residents buying property in Bulgaria is to set up a limited company which then owns the land and the buildings. The law is expected to change soon as Bulgaria is to enter the European Union in 2007.
We are ready to provide you with full assistance with the company’s registration.The cost for setting up a company is relatively low and our lawyers help you set it up. For this you will need to open a bank account with a deposit of 5000 levs. The money remains there as yours and can be withdrawn when the company if formed (approximately 1 month). With new, off-plan developments it is not necessary to own part of the land or set up a company as buildings can be owned by foreigners.



CHECKS ON TITLE DOCUMENTS, LICENSE AND PERMISSIONS, DEBTS ON TITLES, TERMS OF CONTRACT

We do full checks on the property (on ownership documents, licences and permissions, debts in title, securing proper title deed, terms of contract, etc.)



FINAL CONTRACT

This is basically the last level of the sale process where the ownership of the property is transferred and the due balance of the purchase price paid to the owner. At this final stage, a Notary fee of 1% of the purchase price and Government Purchase Tax of 2% of the purchase price will have to be paid. All the details about the property – the type, size, location, borders, property valuation, the purchase price, names of the buyer and seller- will be noted in the Notary Deed. The Notary Deed recognizes your rights as the new owner of the property. This is an official internationally recognized document. If you are unable to attend the Notary Deed in person, you should authorize your solicitor to sign on your behalf.