HOW TO BUY A PROPERTY IN BULGARIA

HOW TO BUY PROPERTY IN BULGARIA

The foreigner has right to buy a property in Bulgaria but not land.

In order to change the ownership of a property the foreign citizen need of his international passport.

 

1. If the foreigner wants to buy a land in Bulgaria he (she) will need to make a registration of a company in Bulgaria.

 

2. The foreign-owner has the same rights as the Bulgarian has, including to rent a property.

 

3. If you want to buy a property you will have to proceed throw the next three stages:

 

а) After you decide to buy the property you will have to pay a reservation fee (1500 – 2000 Euro). The buyer will stop to offer the property to other potential clients. The price of the property will be fixed in a preliminary contract between the sides and will not changes further.

 

б) In 2-3 weeks after the reservation of the property it will be concluded preliminary contract between the seller and the buyer. In this contract will be negotiated the basic conditions of the deal, which will be included at the final contract of the deal – Notary deed: fully description of the property, price, conditions and terms of payments. If this is a property at off-plan project the period of time for completion of the project will be fixed in the contract. At the time of conclusion of the preliminary contract a payment of 20-50% of the full amount of the property (deal) need to be paid by the buyer.

 

в) In accordance with the period of the time fixed at the preliminary contract the both sides (seller and buyer) conclude the final contract (Notary deed) in front of the Notary, which will be the document for new ownership of the property. At the time of the conclusion of the final contract (Notary deed) all the necessary payments between the buyer and the seller needs to be paid. If the sides do not want to sign a preliminary contract they can conclude right a final contract (Notary deed). In this case the buyer has to be ready to pay all the amount of the property to the seller at ones.

 

All the necessary governmental and notary taxes related to the new ownership of the property are responsibility of the buyer. (sec. TAXES IN BULGARIA:http://www.festival.bg/MESTNI_DANYTsI_I_TAKSI.html  )

 

IMPORTANT!!! The ownership of the property in Bulgaria do not have the right to come in the country without a necessary visa and do not give direct right to obtain a residential rights. Additional conditions have to be obtained.  The ownership of the property in Bulgaria makes the conditions for foreign citizens to obtain a come in visa to Bulgaria much easy.