So, you have made up your mind to buy a real estate in Bulgaria at the sea. Our company has a wide base of top class apartments at the Black Sea in Sveti Vlas and in Bansko ski resort. Check our section ‘apartments’ and you will find a lot of apartments offered for a different price. However, we do not offer cheap real estate as in most cases it is not liquid. Elite property is always in demand in Bulgaria and the price has been constantly growing. If you already know which apartment you want to buy, you will have to make a reservation first. The reservation is necessary to prevent the seller from selling the apartment. Reservation is a sum of money from 1.000 to 2.000 Euros. It will guaranty that the seller will not offer the property for selling and will not change the price within 20-30 days.
What you should know:
You will need to sign a preliminary sale and purchase contract. All the details of the transaction are stipulated in this contract. This is an important document especially if the construction of the property is not complete.
The preliminary contract includes the following points:
♦ The price of the property
♦ The location of the property, address, and its total area
♦ The information about the seller and property documents
♦ Payment terms and ways of payment
♦ Information about installment purchase
♦ The date of acceptance of the building for operation
♦ The date of property transfer procedure in the form of a notarial act
♦ The fit-out work after the construction is completely
♦ Information about the property management company and the cost of its services.
If you have chosen a completed facility or a house, a preliminary contract is not obligatory.
The next step is a notarial act (a document for the property). When you pay the whole sum for the property, you require the right of ownership. You shall sign the documents only in Bulgaria at a Bulgarian civil law notary. As soon as you sign the notarial act, it is saved in the state register. All these procedures will not take you long, about 2 days and then you receive the documents confirming your ownership of the property.
After you receive the act, the registration in administrative and tax facilities is necessary.
If you choose the property with the act 16 then within 3-4 days after you paid the reservation sum, you sign the contract which stipulates the scheme of additional payment and tax assessment.
A buyer shall pay or transfer the first 30% of the total cost of the property via wire transfer to the account of the seller within a month. The payment is effected on the base of the contract drawn up by the seller. The remaining sum can be paid by cash.
Then a notarial act is signed. It can be done only in Bulgaria at a Bulgarian civil law notary in the Bulgarian language and in presence of a lawyer and a translator.