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Spend time in choosing a property appropiate to your needs and research the area in which the property is situated.
After choosing your property it is advisable to appoint a native Bulgarian lawyer who speaks fluent English and also who specialises in Bulgarian property law. We can arrange this for you.
You must consider that if your chosen property requires modification or renovation work it is advisable to check on any relevant permissions required to modify the property before purchase.
We can assist and advise you in this.
Bulgarian house prices are rising at 15% - 20% per annum, so buying a property should still return a considerable profit if you decide to sell in the future.
Properties offer great all year round renting opportunities.
As a rough guide, properties are generally 30% - 50% cheaper than in the UK.
It is possible for funds from the UK such as pensions to be transfered into a Bulgarian bank for access whilst living in Bulgaria.

There are mortgage companies and banks in Bulgaria that will provide you with up to 80% of the property price, however, interest rates for mortgages tend to be higher than in the UK.
A preliminary agreement can be signed between the buyer and seller to ensure they are committed to the sale and agree on the terms and conditions of the sale. This agreement is valid until the period agreed by both sides ends or by cancelling in writing by either party of the contract.
Usually a deposit is required of between 10% - 30% of the value of the property. Always get a signed receipt.
If, after signing the preliminary contract, the seller unreasonably refuses to sell the property to you then they must refund you twice the deposit paid.
In addition, if, after signing the preliminary contract, you unreasonably refuse to purchase the property, then you will lose the deposit you have paid.

You must appoint a Notary to check all the documents and deeds provided by the seller to ensure that all legal requirements are met and that the seller has good title on the property.
The Notary creates a Notary Act and the Contract for Purchase is signed in the presence of your lawyer (not a legal requirement but recommended practice) as well as the notary official and a fluent translator.
The notary tax and costs are usually shared between the seller and the buyer and this should be agreed in the Preliminary Agreement.
On transfer of the final funds you will receive the Title Deeds.
You do not have to be present to buy a property in Bulgaria, you can give Power of Attorney to your lawyer. There are two types of Power of Attorney available, either dealing with the whole sale including inspection of the property or just the completion of the sale.
After purchasing the property, you need to register with the relevant Local Tax Authority in order that you pay the correct taxes on your property. This needs to be carried out within two months of the date you signed the Contract for Purchase.



Home About Bulgaria Properties Land Viewing
Home About Bulgaria Properties Land Viewing

Choosing a property	Legalities	Final Stage