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Bulgarian property, property in Bulgaria, Bulgarian Properties, Bansko Property
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Bulgarian property, property in Bulgaria, Bulgarian properties, Bansko property

How to Buy

The process of buying a property is very simple in Bulgaria and generally much, much faster than in the UK.

The main steps are:

If you are buying an OFF-PLAN property

  • Do research and find your home
  • Make arrangements to finance your property
  • Pay a deposit to reserve the property
  • Sign a preliminary contract
  • Pay your installments according to the contract and payment plan
  • Sign the final contract, upon which you take ownership (notary deed)

    If you are buying property with LAND
  • Do research and find your property
  • Make arrangements to finance your property
  • Find a solicitor (preferably a Bulgarian solicitor) and set up a Bulgaria company as the land owner (much the same as a Limited company in the UK)
  • Make an offer and negotiate the price
  • Once you have reached agreement with the seller, pay a deposit to reserve the property and get the property removed from the market. (Similar to "Sold subject to contract" in the UK)
  • Ask your solicitor to conduct all legal checks and make sure there are no outstanding debts on the property
  • Transfer the money to the STORK Client’s bank account or the seller
  • Sign the Notary Act (Contract to Purchase) in front of a Bulgarian Notary Public (you can be represented by your lawyer) and take ownership

    Important notice:

    All foreign buyers purchasing property in Bulgaria must be aware of the difference between the "tax estimation price" and the actual "purchase price". The "tax estimation price" (similar to "ratable value" in the UK) is for the purpose of estate taxation and is typically lower than the actual purchase price.
    It is quite likely that the owner will not want to declare the real price of the property on the Deed of Transfer. This is done for the owner to avoid paying capital gains tax (which would be approx. 30% of the real purchase price). You might end up in a situation where the owner proposes that either you pay the market value but get an official document (Title Deed) stating a far lower price or you do not have a deal. Usually, we recommend that the price should be agreed in writing before the signing of any document.
    You should know that having a Title Deed with a lower price does not invalidate your deal.
    However, such a situation has its financial consequences, such as not having official documents for the money spent and higher taxes if you decide to sell the property afterwards on its real value. Please, consult with your lawyer every aspect of the deal for to avoid any misrepresentation and misunderstanding at a later stage.

    How To Buy Property In BulgariaBulgarian property,property in Bulgaria,Bulgarian Properties,Bansko Property




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