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Buying Real Estate In Bulgaria

Procedure for acquisition of real property in Bulgaria

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Russia and Bulgaria are excellent airlines. Fixed-wing aircraft from Russia are flying to Sofia (if the real property is located in the capital or on the resorts of mountains), Plovdiv (Bulgian centre), Varna (north coast) and Burgas (south coast). You can also get to Bulgaria by train, bus or your own car.

Note: Many Bulgarian Realter agencies and developers are organizing inspection tours for potential buyers. If the journey ends with a transaction, they return the money spent on travel and residence in the country while searching for real property.

Object selection and pre-contract

Once the buyer chooses a particular apartment, it makes a payment to book the facility, proof of the seriousness of its intentions. Usually the amount required to reserve Real estate in Bulgariaa little bit, until I 3000. This money is transferred through a bank under a contract of armor. This document describes the main parameters of the transaction: the timing and payment schedule, the data on the object of the transaction, the information on the realtor or the developer.

In the future, upon the wishes of the parties, a pre-contracted contract of sale reflecting all the parameters of the transaction: the cost of real property, the duration of payment, the rights and obligations of the parties, and sanctions in case of breach of obligations.

Preparation of transaction documents

Upon receipt of the reserve deposit, the seller begins to prepare a package of documents for the notarized completion of the transaction. Usually, the process of collecting all certificates lasts 1, 5-2 months. Under Bulgarian law, he must provide the buyer with:

♪ Certificate of valuation issued by municipal authorities. This document can be obtained only if there is no debt.
♪ A cadastral service certificate.
♪ The seller's notary act.
:: Declaration on the Family Situation.
♪ No tax debt certificate.
♪ No burden certificate (e.g. credit).

The buyer will have to show the foreign passport in person on the deal.

It's possible to make a deal remotely. In this case, the buyer must issue and assure the Russian notary of the confidence in the name of a member of the Bulgarian Real Estate Agency. Also provide a declaration on the origin of money and a certificate of family status.

Notary registration

Once the parties have prepared all the necessary documents, the date and time of the notary ' s meeting for the conclusion of the sales contract shall be set. Mandatory personal presence of the seller and the buyer or their trusted representatives.

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