Procedure for buying a property

The process of purchase of a real property in Bulgaria consists of several stages.
 

1. Manifestation of interest, preliminary collection of information and preparation of a visit to Bulgaria

To orientate yourselves in the process of acquisition of real property in Bulgaria, please refer for consultation to our specialists. They will answer all questions, consult you regarding all details related to the purchase process, recommend regions, and offer you in advance several properties to take a look at. After shortlisting suitable properties, we advise you to set time for an introductory visit. As they say, “one had better see with their own eyes”. After you decide on a visit to Bulgaria to view the properties, you will need flight tickets, visas and a hotel for the time of your stay – we will help you with the organisation via our offices or via our partners.

2. Visit to Bulgaria, viewing and selection of property

Our representatives will meet you in Bulgaria, help you with the accommodation and after that will organise viewings of real properties according to your wishes. If you choose some of the properties as a result of the viewings, you will have to book it to withdraw it from sale. All our offers undergo thorough legal inspection, so you should not doubt their “encumbrance”. All purchase conditions are clarified prior to the booking: price, method of payment, stage of completion of the property, availability or lack of furniture, etc. The Booking is in the amount from 1,000 to 3,000 Euros depending on the price of the property and the agreement with the seller. The booking is valid for e term of 2-3 weeks, after which payment of the first instalment is expected.

3. Preparation and signing of a preliminary contract

After signing the booking form, our lawyers continue with the preparation of a preliminary contract between the client and the seller of the real property, in which all conditions of the sale are described, and the wishes of both parties are considered. This contract is signed by both the client and the seller, after which the payment by the client of the first instalment follows, and subsequently of the next ones. 

4. Preparation and certification of the transaction by a Notary Public

Where the buyer has paid the full amount or the bigger part of it, a date is set for certification of the transaction by a Notary Public (this is coordinated by our lawyers with a Notary Public, the seller and the client).
Prior to the certification by the Notary Public, our lawyers prepare:
- a certificate of good standing of the property stating the lack of any encumbrances;
- current tax assessment of the property;
- interpreting services.
 
The client may attend the certification of the transaction by a Notary Public in person. He or she may also issue a power of attorney in favour of one of our lawyers to sign a title deed on his/her behalf. The expenses on the certification of the transaction by a Notary Public are approximately 3-5% of the tax assessment of the property (more details on this matter are provided under the section “Taxes and Notarial Fees”).
 
After the signing of the title deed, it has to be registered with the regional court. Later, issuance of a BULSTAT registration number and registration of the real property with the tax and cadastral authorities follows. Our consultants and lawyers will assist you in the course of all these stages.   

5. You have become the owner of a real property!

As owner of a real property you will have to pay annual taxes, as well as utility services bills (described in detail in the section “Prices of goods and services and expenses on utility services in Bulgaria”).
We will be glad to assist you in this stage, offering after-sales service.