Language
Buying process
Buying property in Bulgaria
Buying property in Bulgaria is very different from buying property in any other European country for a number of reasons. Private individuals and companies not based in Bulgaria are allowed to buy buildings according to Bulgarian property legislation, but they cannot buy land. If you want to own the land that the property stands on (this applies to all home types except apartments), you will have to set up a Bulgarian company. Actually it is easy to realize it. But it is highly recommended to hire a legal advisor who speaks Bulgarian to help you with this process.
Preliminary buyers contract
After you have reached agreement on the purchase price, you are ready to sign the preliminary buyers contract. Signing the preliminary buyers contract makes you the legal owner of the property in Bulgaria. Make sure to include conditions subsequent in the contract. Always make sure to have the contract checked by a legal advisor or solicitor so you can propose adjustments or additions, if you do not speak the language (well enough).
It is also common in this stage to pay a deposit of 10% of the purchase price.
It is also common in this stage to pay a deposit of 10% of the purchase price.
The sale
Two to three weeks after the signing of the preliminary buyers contract you will sign the final contract of sale at the office of the notary public. There will be an interpreter present if you do not speak the language. The final contract of sale is read aloud after which the seller, the buyer and the notary public sign the final contract of sale in quintuplicate. The notary public will stamp the final contract of sale. After you have paid the required amount (or after you have showed a proof of payment), you will be handed the keys to your second home and the property in Bulgaria is yours.
Your new second home in Bulgaria will have to be registered within a couple of days after the sale with several different authorities but usually the solicitor will take care of that.
Your new second home in Bulgaria will have to be registered within a couple of days after the sale with several different authorities but usually the solicitor will take care of that.
