Bulgarian British Partnership
- Property for Sale in Bulgaria
Helping to bring out the best in Britain and the best in Bulgaria.
Bulgarian British Partnership is a UK based company, with Professionally Qualified Staff working in both the UK and Bulgaria.
Property for sale in Bulgaria;Language & Business Services
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INFORMATION ABOUT BUYING PROPERTY IN BULGARIA - PROCEDURES AND COSTS INVOLVED
Please Note: Whilst I hope you find the information below useful – it is intended to provide a general idea of some of the points you need to consider, but it should not be taken as an exhaustive list of all the points you need to consider. I have provided this information as a basic guide, but I have depended on information on government and other websites being updated – therefore, please do check what the current procedures and costs are with your Solicitor. Bulgaria is undergoing a lot of changes at the moment to comply with European Laws and Regulations and also, Brexit is causing changes: I cannot guarantee the accuracy of the information below, this must be confirmed by your Solicitor please before signing any contracts or parting with any money.
PROCEDURES INVOLVED IN BUYING PROPERTY IN BULGARIA
(Copyright 2022). Firstly, please be aware that we are NOT Solicitors and your Solicitor will confirm the current regulations and procedures at the point of purchase. Changes have taken place in procedures and regulations due to Bulgaria joining the EU, Britain leaving the EU and policy changes. Laws/Regulations continue to be amended. However, at the point of purchase, we will guide you through the procedures stage by stage, liaising with yourself and Solicitor. Here are the procedures In Brief:
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Be Cautious about buying a property off the internet, if you can it is best that you go to see the property and if you are not able to come over to Bulgaria employ a Registered Solicitor to act in your absence. Ensure you are dealing with a Registered Solicitor and not a fraudster pretending to be a Solicitor. 99% of people are fine, but there are fraudsters using the internet pretending to be Brokers and Solicitors.
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Be aware that there are differences between Property Buying Procedures in Bulgaria and in Britain. Also, there are differences in standards, regulations, laws and guidelines.
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Be clear about any Power of Attorney (POA) before you sign any POA or any document.
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If necessary – arrange Translation Services so that you know what exactly you are signing before you sign it.
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Form and Register the Company if necessary - i.e. there are different rules for buyers from different countries and depending what type of land/property you are buying.
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Sign a Preliminary Contract and Pay a Deposit
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Sign the Notary Act and make the Final Payment
Further, more specific, details concerning the Procedures and Costs involved in buying a Property in Bulgaria are given below.
Go to see the Property if you can: Some properties advertised on the Internet don’t actually exist and when they do exist – the photographs may not accurately reflect the current condition of the property.
Your Solicitor should be a Registered Solicitor experienced in dealing with Conveyancing for properties in Bulgaria: If your Solicitor is a UK Firm – check that they are registered with the Law Society in the UK and are Specialists in International Transactions.
You can check out a UK Solicitor on the following website: http://www.lawsociety.org.uk
If your Solicitor is based in Bulgaria – check that they are registered and practising with the Bulgarian Bar Association by asking them for their Registration Number and verifying this through either of the following websites:
Bulgarian Bar Association - http://www.vas.bg/Pages/Bar/default.aspx
Bulgarian Bar Register – http://www.bat-register.bg/Public/StartPage.aspx
Translation: If you do not have a good understanding of Bulgarian, your Solicitor can arrange for all documents to be translated into English by an Independent Translator. Legally only the Bulgarian Version of the Contract is valid in a Bulgarian Court – therefore be careful who you get to do the translation, they must be suitably qualified Translators.
Older Properties and Off Plan New Developments: Many of the Older Properties need substantial repairs, so don’t forget to calculate the cost of Renovation Works as well as the cost of buying the property. If you are intending to buy an off-plan development be careful because sometimes there is not yet a Construction Permit and unless a Construction Permit is granted the Constructor cannot start construction. Your Solicitor can best advise about signing preliminary contracts and agreeing stage payments between you and the developer.
Some of the points that your Solicitor can check for you:
(Please ask your Solicitor what checks/procedures they will include in their fee as part of their conveyancing and what additional charges they may make). For example:
Ownership of Property: Property in Bulgaria is often under multiple ownership (i.e. shared by different family members) – all the Owners of the property have to be in agreement to sell the property. Before proceeding too far – it is important to check that all the owners are in agreement to sell. Also, check that Banks or the Authorities do not have rights over the property for unpaid debts. There is a risk that the new owner will take on the old debts of the previous owners.
Rose Picker in Bulgaria in Traditional Costume.
Typical Bulgarian Village
If you would like to see some of the typical Bulgarian Village Properties we currently have for sale please click this button -
Unpaid Bills: Make sure your Solicitor checks that the Owner of the property has paid all outstanding Bills on the property before you agree to purchase. Otherwise - there is a risk that after purchasing the property you will be asked to pay for the previous owners use of telephone, electric, house tax, etc.Land Use, Title Deeds, Services, etc. : Bulgaria, like Britain has rules and regulations on what the land/property you buy can and cannot be used for, what planning permission and constraints there may be; whether the land is regulated or unregulated; confirmation of the exact boundaries/area of land. It is important to check that the Title Deeds provide an accurate description of the property. Surveys on the condition of the property are not compulsory and you may wish to consider having a survey. What development proposals are there in the area that may affect your property? What Services are available to the property – E.g. Mains Water, Telephone, etc..
Form and Register a Company: Some Buyers can buy in their personal name and others have to form a company to purchase the property (it varies according to your nationality and the type of land/property purchased). However, do check what the current legal situation is with your Solicitor, since Laws are often amended, or there are delays in Laws being implemented.
You then have to Sign a Preliminary Contract and Pay a Deposit on the Property. Important Note: Once the deposit is paid on the property, you are likely to lose your deposit if you change your mind and do not proceed with the purchase.
Then – Sign the Notary Act and make the Final Payment for your Property.
If you would like to read information about the Fees involved in Buying Property in Bulgaria please click this button:
DISCLAIMER:
Whilst I hope you find the above information useful you should not rely on it as the only guidance to follow when Buying Property in Bulgaria. Neither can I provide a guarantee about the accuracy of any of the information provided. Your Independent Legal Advisor must be consulted on all aspects of information and procedures concerning the purchase of property. You must please check all the information you have read on this website concerning buying property in Bulgaria with your own Independent Solicitor. Procedures for Buying property in Bulgaria are subject to change because of changes or modifications in the Law, because of changes since Bulgaria has joined the EU, changes because of Brexit and because Solicitors and Authorities may increase their fees. I have provided this information as a basic guide, but I have depended on information on government and other websites being updated – therefore, please do check with your Solicitor. We are NOT Solicitors or experts on the current Legal Procedures for Buying Property in Bulgaria. Information provided on this website is intended to provide a general idea of some of the points you need to consider, but it should not be taken as an exhaustive list of all the points you need to consider and I cannot guarantee the accuracy of the information.
