Buyer`s Guide

1. Buying process:

• We will negotiate an acceptable price and verbally reserve the property for you.
• You then leave a deposit of 1000 euro, which reserves the property in your name.
• We draw up a preliminary contract between you and the vendor.
• We assist you in setting up a limited company.
• We check that the owner is legally able to sell the house, is in possession of the title deeds and that there are no outstanding debts on the house.
• On completion day, we meet with you and the vendor to sign the documentation and exchange in the presence of the Notary Public. If you cannot be present then power of attorney can be given to a man chosen from you.
• The documents are submitted to the Land registry department.
• The property is registered in your name.

2. Buying fees:

• Our Estate Agents take a fee from the builder not from the buyer.
• Notary fees and state taxes are around 2% of the selling price.

3. Services:

Surveys have not been usual in Bulgaria when buying a house, but of course we can organise this for you if required.
Alternatively, you may wish to secure the services of a builder or architect, we can assist with this also

4. Company Set-up

• Current Bulgarian legislation prevents ownership of land by foreign nationals, to overcome this you will need to establish a limited company.
• This is a very straightforward process and we will complete all of the documentation with you.
• You will need to open a bank account and deposit 5000 leva (around T 2500).
• The money will stay in the account until the company is established and then you can withdraw the money.
• This can all be carried out without the need for you to visit Bulgaria if you desire.