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About Bulgaria |
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What do you need to know about the buying process? |
| Currently as non Bulgarian, you can buy the building, the right to build and other land related rights such as the right of use passage; however you cannot buy the actual land. You can however acquire land by registering a company in Bulgaria, with yourself as sole director and beneficiary. Then this company can buy and own both the house and the land freehold for it.
This is routinely organised either by ourselves, or you can do it with the help of a local lawyer. The restriction on land ownership by non Bulgarians, as established by the Constitution of 1991 is now publicly discussed and is expected to be modified, or lifted with Bulgaria’s accession to the EU. We will keep all our customers informed on the developments; however the change towards a less restrictive legislation is bound to increase property prices.
Acquiring property (except land) is made easier by the new Foreign Investment Act (1997) which lifted the requirement to seek prior approval of the Ministry of Finance to conclude such purchases. |
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Costs of buying - Timescales |
| Legal fees for setting up a company and doing the conveyance will be approximately EUR 600.
State Tax (Stamp Duty equivalent) is 2% of purchase price and other legal and notary fees are less than 2%.
Timing normally takes just a couple of days to sign the preliminary contract, with the down payment of usually 10% of agreed price to secure the selected property. From there around a week to form a company and then a couple of weeks to organise the legalities. So the overall process when using our knowledge and services is much faster than in most countries, and certainly quicker than most UK transactions.
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Buying guide step by step |
| Make your own research about Bulgaria by visiting switch-homes.co.uk website with good links to many other reliable sources.
Contact our experts both in the UK and Bulgaria to source first hand information and have your individual queries answered.
Tell us what you are looking for and let us search for you and try to find a suitable match.
Meet members of our staff to find more about the process of buying and about the country.
Join a viewing trip to get that vital feel of the country and to view properties. Whether you wish to arrange your travel individually or ask us to do that for you, once in Bulgaria, you can draw on our expertise, from meeting you at the airport, booking accommodation, showing you round and taking you on those essential inspections or viewings. Consult us when picking a property and we shall advise you to the best of your interests. Our staff are fluent in English, but if you wish we can assist you in finding an independent interpreter/translator.
Making an offer will involve filling out all the pertinent legal and binding documents in Bulgarian with English translation. This can be done either when you are in the country or at a later stage through a proxy. Once an offer is made and a deposit (usually10% of the agreed price) paid, the property is then taken off the market.
Set up a Bulgarian registered company (cost EUR 600) to own the plot of land of the property. This does not apply if buying a flat or off-pan for new built properties where land is usually shared.
Open a bank account in Bulgaria to facilitate transfer of funds Searches will be made with the Land Registry and when all documents are checked and approved completion will be agreed upon.
Completion shall be effected upon transfer of funds and signing of the Notary Act, which is transfer of Title Deeds Legal fees are 2% of the agreed price, so is the State Tax (Stamp Duty) 2% of the purchase price.
Time Scale: a week to set up a company and file registration. Another three to four days to sign the preliminary contract and make the down payment/deposit of around10% of the agreed price. The deal can be notarised within another two to three weeks and on completion the balance payment must be made.
After sale services. Our after sales team is based in Bulgaria and will deal with the maintenance, community charges and local taxes on your behalf. You will be given assistance with removals, telephones, and advice on local facilities.
Rental arrangements can also be made on your behalf. We will also point you in the right direction if you wish to buy, or rent a car.
For off plan sales the team will send you progress reports during construction and will be available to assist you if you come to Bulgaria to see how your property is progressing.
Cost guide for maintenance and community charges is in the range of just EUR 70 a month. |
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Our services The best money can buy |
| Balance your property needs with the best properties available on the market
Make buying property in Bulgaria, being it residential or commercial, as enjoyable and trouble free as possibly
Ensure that your interests are fully supported throughout the whole process
Offer inspection tours, designed to give you access to the widest possible selection of properties and the best possible assistance in viewing them
Make the whole process a worthwhile and enjoyable experience
Provide full after sale services, so you never need to feel alone
Arrange any additional, tailor made services meeting your demands while visiting the properties
Offer assistance in buying business properties, or complete businesses
Help you maximise Bulgaria as a property investment opportunity
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Important notice: |
| All foreign buyers purchasing real estate property must be aware that in Bulgaria there are such terms as "tax estimation price" and "purchase price". The "tax estimation price" (similar to "ratable value" in UK) is for the purposes of real estate taxation and is often much lower than the actual selling (purchase) price. Most of the Bulgarian property owners (vendors) wish that the "tax estimation price" (ratable value) is written in the title deed, and not the selling (asking) price which the buyers are paying, so due to this practice there might be discrepancies between the price you are paying and the price written in the title deed. This is because of various reasons and Jordan Real Estate is not responsible for it. Even if the property buyer wishes that the purchasing price is written in the property title deed we can not guarantee that this will be accepted by the vendor. |
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You can benefit from our experience in the following: |
| Buying Properties perfect selection of holiday villas, apartments, homes, country houses, off plan houses and more
Inspection viewing trips to Bulgaria- four, five days
Accommodation hotels and serviced apartments at reasonable prices
Buying business properties
Investment property and land, after sale services include maintenance, departure service, car-hire, local excursions, outings, special events |
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