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THE BUYING PROCESS

   It’s now very attractive for many foreigners to invest in real estate in Bulgaria. For this reason it’s important to know about the buying process - how it happens in Bulgaria.

   First you should find the property which matches up your wishes - we have a wide choice of nice apartments and excellent houses put on the market. Bulgarien Bo is at your disposal, so that you can find your dream property in Bulgaria.

   The next stage is to decide whether you will buy the property with or without plot. If you buy with the plot, you should establish a Bulgarian company – LTD (you can read more about this in section Trading expenses), and this company buys after that the plot in question. Foreign nationals can possess 100% in a company. Company tax in Bulgaria is 15%. If you buy a home (apartment) without plot, in that case isn’t necessary to establish a company.

   
     - PRELIMINARY CONTRACT
When you have chosen the property and accepted the conditions of sale, there will be prepared a conditional preliminary contract, which will contain all negotiated between the Buyer and the Seller issues related to the purchase. Usually an amount of 10% of the purchase price should be prepaid. You should know that it’s possible to wait three weeks before the documents are ready in case that you will buy a plot and establish a company.

   The lawyer does a check-up of the document of title, licences, permissions and terms for the contract before you sign it.

   And finally – the title deed – the Buyer and the Seller go to the notary. In front of a notary they confirm that they are agreed about the purchase of the property. After that the sale contract and the title deed should be signed by both parties. The Notary provides that the title deed should be registered in the land register within 24 hours. The conveyance finalizes by paying to the municipality a local tax and other fees. The trading expenses are about 2,5 % of the purchase price.