How To Buy Real Estate In Bulgaria
In connection with The crisis in Bulgaria often put apartments under mortgage for sale. I mean, this real estate is located in the Bank, which has issued mortgages, and it may be cheap because of the problems of owners.
It should be known that the legal status of collateral property in Russia and Bulgaria is significantly different. I mean, Bulgaria is not like Russia!
In BULGARIA, I'm not going to have to go, but I'm not going to be a BROIL,
What's going on?
The owner of the mortgage apartment in Bulgaria is entitled, without the consent of the lender, to sell the real estate. And may not even let the bank know about the change of ownership. Under Bulgarian law, the mortgage should be followed by property. I mean, if you managed to buy mortgages in Bulgaria, despite the change of owner, the apartment will remain on deposit with the bank and will be counted on burden (proof here). And as the last owner of the real estate, you will be responsible for the late payment of mortgages. This feature is based on several schemes of real estate in Bulgaria.
The Rossian mortgage with Bulgarian citizens is generally not translated. I mean, they don't renegotiate the mortgage agreement on the apartment in Bulgaria, and that's the deal that leaves hanging on the seller.
If the seller persuaded you that the money it received for the apartment in Bulgaria would extinguish the mortgage, it's just words. To get rid of the burden, you have to fulfil the mortgage contract, calculate with the bank and the notarized seal.
In the event of non-performance of the mortgage contract, the Bank has the right to take collateral from the new owner, to market, to sell your apartment in Bulgaria, to cover its losses and the balance of money to return the owner of the apartment. ♪ ♪
That's why. purchase of apartments In Bulgaria, it is necessary to approach very carefully and carefully. At a minimum, insert language in the pre-contract to ensure that you are protected by the seller ' s failure to perform the mortgage contract.