Stages in buying property in BulgariaEach purchase goes through several stages:
- viewing and selection of real estate;
- Making a payment - single or by installments;
- Issuance of title deed;
- Property costs.
View and choice of real estate
This phase consists of consulting with our experts, view of the properties, the region and the sights. For this purpose you can visit one of our offices or contact us at contact phone, e-mail, skype. GET A FREE TOUR
The aim of our consultants is to provide you with detailed information on Bulgaria to introduce you to local traditions and culture, to show you the sights in the region to get the most accurate picture of the local lifestyle. We will introduce you to the peculiarities of the purchase of real estate and its attendant costs.
After finally you have chosen your new home you need to make a reservation. The reservation amounts is € 1,000.
The payment is made single or in installments.
When single, the price of the property is transferred within one month after reservation. In this case, you can count on a bargain price. In rinstallments, downpayment is 20% of the price of the property. The installment plan is s prepared individually for each customer and described in the preliminary contract. can be made monthly, three or six months, depending on the willingness of the buyer.
The last step in the purchase of real estate - the signing of the title deed (notarial act of ownership). All documents needed for the deal, as the treaty itself made by our lawyers. From you only need the ID card. If you for some reason cannot arrive at the time of the deal, then the contract can be issued a proxy.
For the convenience of in advance we assign a date and time for signing at the notary. Notary certify signatures on documents and even assures us that this property has no encumbrances, restrictions and mortgages, that really is a property of the seller. After notarization, the contract provides to the district court, where a judge makes a change in the state register.
Costs on property registration are paid by the buyer. Notary fees are around 1-1.5% of property value. Local tax is 2-4%, depending on in which municipality the property is located. Translation services are also paid by the buyer.
Another important point is registration of ownership changes in the Internal Revenue Service, the Agency for Cadastre and registration for BULSTAT. Since it has a timeline, for your convenience we provide you with this service.
The costs of maintaining the property
Annual property taxes are of two kinds: the property tax and tax on garbage collection. The first of them in the amount of 0.15% of the property value. The second, usually within 0.2-0.3% of the property value, depending on the region. If full payment is made by April 30 you receive a discount of 5% on the amount of taxes.
Electricity and water are paid by the meter. KWh in Bulgaria costs about 0.4-0.6 euros a cubic meter of water - 0.5 euros. Additional services - internet and cable TV costs about 10-20 euros per month.
The state of the domestic territory of the complex and common areas is taking cared by management company. On this management company is paid maintenance fee that is different for each complex and usually is 5-10 euros per square meter of the property. In the duties of the company usually include: maintenance of landscaping; maintenance of swimming pools, lounges, umbrellas; care for cleanliness and order in the complex; security guard; CCTV and others. Managing companies provide a wide range of services for additional payment.
Since our properties are located on the Black Sea coast, in summer season they are demanded to rent. The season starts in May and ends in October. If you do not plan on living, you can successfully turn yourr property into a profitable investment