Buying property in Bulgaria
Buying a property in Bulgaria is a simple and frank process. Black Sea Best Invest is here to help and guide you through every stage of your purchase. There are several general steps that must be made to purchase a property in Bulgaria and our experienced employees will be always ready to guide you and give you an expert advice.
Buying in Bulgaria is easy and is not more or less difficult than buying in any other foreign country. There is only one specific thing that is to be taken into consideration and it is that according to the Bulgarian Constitution, foreign individuals currently are prohibited from owning land and can acquire only buildings but not land on which the buildings are built. A change in the law is expected, which will allow of this, but there are no timeframes set officially with regard to this change yet.
This is easily overcome by forming a Bulgarian registered company with you being a sole owner and director.
Read more about the process of registering a Bulgarian Company.
Now find bellow the steps for buying a property:
- Visit our website
- Find a property
- Make a preliminary enquiry and get answers to all your questions
- When you are completely satisfied and sure that you really want the property place, deposit to secure your new home. The deposit is usually 10% of the asking price and a preliminary contract is signed. The deposit is nor refundable in case you pull out of the deal.
- We then do detailed checks on title documents, building permissions, debts on title, etc.
-If the property that you like to buy comes with land we start setting up a company for you.
- After the company is formed and we have made sure that the vendor is the legal owner of the property you now are ready for the final transfer of ownership.
- Make an appointment with a notary and sign the Contract of Purchase /Notary Act/
- Transfer the remainder of the funds and get the title deeds transferred to your name.
- Become a proud owner of a property in Bulgaria.
Please note that in case of off-plan developments the final Notary Act is not signed until the building is completed .
Please also note than in Bulgaria there is a Tax estimation price /similar to ratable value in UK/ which is usually several times lower than the sale price. Because of various reasons most vendors prefer that this lower price rather than the real sale price is written in Title deeds. Due to this practice there might be discrepancies between the price you are paying and the price written in title deeds and BestInvestBulgaria can not be held responsible for that.
Black Sea Best Invest proposes to its potential clients to become acquainted with the possibilities of purchase and formulation of real estate in Bulgaria. We are ready to show new, modern Bulgaria to you, whose appearance in the last decade substantially changed. Political and economic stability in the country obtained world acknowledgement.