The Wayback Machine - https://web.archive.org/all/20060323232723/http://www.bulgaria-properties-for-sale.co.uk:80/purchasing-property-bulgaria.htm
Property for sale in Bulgaria

Bulgaria
 

Faq
Buying Procedure
Viewing Trip
Flights To Bulgaria
Bulgaria Car Hire
Rental Villas
Contact Us

Purchasing Property in Bulgaria

The following payment terms apply when purchasing property in Bulgaria

  • 2000 Euro Reservation Deposit
  • 40 % upon signing a Preliminary Contract of Sale
  • 40 % in two or three payments until the completion of Complex
  • 20 % upon completion and signing Title Deeds

The Reservation Deposit

This needs to be paid as soon as they find the property to take it off the market and the fix the price as property is selling very quickly.
Deposit is payable by travellers cheques, cash or bank transfer as the developers, lawyers and agents do not normally take credit cards as their usage is not widespread. When paying the reservation fee our lawyer will open a bank account for you in a Bulgarian bank

  • The prices quoted for in Bulgaria include VAT
  • All properties are freehold
  • There is no need to incorporate a Bulgarian company unless buying a villa with it's own land

10 Year Building Guarantee

All new build properties in Bulgaria come with ten years building guarantee. The Bulgarian national standards require this. This is written in all Preliminary Contracts.

Payment Protection

Most of the developers work with banks who finance the building works of the development, however some companies have other financial sources, but now the construction business in Bulgaria is very lucrative and all developers are abiding the contracts they sign in order to keep a good reputation because they plan to launch many new projects.

Nevertheless lawyers check all their companies' documents very strictly and we make every effort to protect you the buyer

In Bulgaria there are not such bank and insurance policy guarantees but as they are joining EU in 2007 this practice should be introduced very quickly

Legal Fees and Taxes

There is a fixed rate deal with a good English speaking lawyer that is recommend to clients. This is usually €450 for all the searches, legal work etc. at completion and can include a power of attorney agreement if the purchaser is unable to travel to Bulgaria in person.

Local taxes and notary fees total approximately 5% of the Notary price (property tax value)

As in many countries in the Balkan region the Notary price is based on a local tax evaluation conducted by the municipality, which is usually four times lower than the price paid

Some of the developments share the cost 50/50 with the purchaser. As such clients should budget a maximum of 3% in addition to their purchase price. In cases where the municipality places lower Notary prices, these taxes are obviously much less.

 


Bulgaria Villas
 


Buy to Rent

Buying Off Plan
Guaranteed Rental
Invest in Bulgaria
Tax in Bulgaria

Bulgaria, the Chic of Ski and Sports
Many foreign investors are still lagging behind recognizing the winter tourism and sports potential of Bulgaria, though the country offers one of best conditions in Europe....

 



 

 

 

 

 

 

 

 

 

 

 

 

 

Bulgaria Links | Contact Us
© Properties for sale in Bulgaria - Bulgaria Properties