Bulgaria Property Purchase - Legal Advice
Buying your Bulgarian property is a relatively easy process. It normally takes up to 30 days to purchase a house, villa or apartment. We at Bulgaria Property Services are here to help you to choose the right property and to give you professional advice on the purchasing process.
Bulgaria has a liberal policy towards foreign investors in property, but there are a few things you will need to consider. There are several ways in which you can buy your property in Bulgaria. If you are purchasing a resale property you will need to either establish a limited liability company (Ltd.) or choose one of the following ways to become an owner:
Foreign investors in Bulgarian property can open bank accounts denominated in local or foreign currency. There is no restriction on the amount which a company may deposit. The Bulgarian government's policy towards foreign investment is positive and encouraging. This can only mean foreign investors in Bulgaria property will benefit from the future prosperity of the country.
We can handle the whole process of your investment in property in Bulgaria for you. Our English speaking Bulgarian lawyers can provide all the necessary legal services you need such as:
Our company can also take care of the following arrangements for you:
Travel arrangements for your viewing trip to Bulgaria
Transport and accommodation in Bulgaria
Full escort and guidance by our professional overseas representatives
Advice on any matter that concerns your purchase
There is a "tax estimation value" and a "purchase price" of real estate in Bulgaria. The "tax estimation value" is used for property taxation purposes and can be lower than the purchase price. Many of the Bulgarian property owners prefer to write the "tax estimation value" in the title deeds. There may therefore be a discrepancy between the price written in the title deeds and the price that you are paying. There are historical reasons for this practice, however we can assist you and negotiate owners on this matter. Please inform us well in advance if you would like our assistance in relation to this matter.
The customary term for the owner of a property to move out after completion of a sale is one month. This can be negotiated on if the buyer requires a shorter term. If so, you should ask for our assistance in good time to enable us to negotiate with owner to reduce the term of occupation.
If you wish to purchase a property through our company you will need to pay a reservation fee which will be non refundable in case you decide not to proceed with a purchase.
If you reserve a property through our company you will need to place a reservation fee as required by the developer and not later than 7days after your property has been reserved. If you fail to place the deposit as required, the property will be released automacally back on sale without further notice.
For more information on our legal services contact us on 0208 2553357 or write to us on firstname.lastname@example.org
Looking forward to assisting you!
Bulgaria Property Services Team