What you need to know when buying property in Bulgaria

23.12.2013 00:30
Articles about real estate |  What you need to know when buying property in Bulgaria Many citizens of different states dream to buy property in Bulgaria as the main way of saving its own funds. Property prices in Bulgaria at the moment there is still a really low level, in relation to the European. If you - a foreigner , you have the same rights as any citizen of the Republic of Bulgaria , to own, use and dispose of real estate acquired under the legislation . This means that as a legal owner , you have the right sales , inheritance , gift, lease , etc. , you can also register a company using the space of your own apartment as an office .

But when buying a specific property must pay attention to the following features:

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An individual who does not have Bulgarian citizenship are allowed to buy property without land: for the fulfillment of such transaction the buyer enough to have a passport only .

When buying apartments you get a conditional property in so-called " ideal part " land area of ​​up to 5 m. m , located below the apartment .

To buy land in Bulgaria to register as a legal entity , ie open a company in this case will be processed two notarial act - on the building and the land.

By purchasing a separate house or villa on a plot of land is made , usually included in the cost of long-term lease for a term of 4 years.

Remember , becoming the owner of property in Bulgaria , you do not get the right to visa-free travel as a base to obtain a residence permit ( residence permit) . However, you have right to receive multivisa for 1 year , then - multivisa for 2 years with unlimited number of visits up to 90 days in each half .

Procedure of buying property

1. Search property

In the first stage you go to a real estate agency to choose the most suitable option according to your preferences , wishes and budget .

2 . step booking

Focusing on a specific object , you need to reserve it by making a prepayment of 10 - 30% of the value of the property (usually the amount is around 1000 - 2000 euros depending on the characteristics of the object ) , and thereby obtain the inherent priority right to purchase the selected real estate and fix its cost. In addition, the object is removed from the booked sales for 1 month - until the conclusion of the preliminary contract - sale.

If you for some reason refuse purchase , the down payment will be in the real estate agency as compensation for non-fulfillment of obligations under the contract the buyer and the loss of potential buyers in the past month .

3 . Conclusion of the preliminary contract of sale

Within a month after the reservation is made the property a preliminary contract - sale. In fact, this document is an official acknowledgment of the receipt of payment the seller and the buyer and the seller's obligations in the future conclude the main contract - sale. If the object of purchase - sale - new signing the preliminary contract , the developer agrees to construct the object and pass it to the buyer , and the buyer , in turn, - agreed to buy real estate.

A preliminary agreement contains a detailed description of the property , including location, area , level of finishing works in the transmission facility; all information on the cost , terms, conditions and methods of payment , data vendor, documents confirming the right to own property , the term of imprisonment of a notarial deed . If it is a newly built facility - in the contract separately indicate date of commissioning .

Since the signing of the contract, the seller loses the right to transfer ownership , use and disposal of these assets for the benefit of third parties, non- contract customers .

4 . Making a notarial deed

Once the buyer will pay the last part of the property, according to the date specified in the preliminary contract - sale between the parties is the main contract in the form of a notarial deed , which is the analogue of the certificate of ownership in Russia.

Please notary witnessing ( extract from the register ) will check the purchased property on the "purity" , ie the absence of any encumbrances , whether unrecorded rights of third parties on the property , the availability of mortgage obligations , ban on the sale , the trial in this property , etc.

After checking the notary draws up notarial deed of transfer of ownership of property , as well as identification of the right. Document signed by all parties : the seller , the buyer and the notary , after certification of notary act sends the document to the district court . The judge , in turn, make the corresponding changes to the registry of real estate, and making a mark in the notarial deed .

In signing the act of the consumer must pay the notary fee (about 3% of the purchase price ) , government fees , taxes and other fees established by the legislation of Bulgaria.

The entire procedure takes no more than two days, after which you get a notarial deed and become the full owner.

You become the owner of what to do next

In the first place , regardless of whether you are a natural person or legal , must :

be registered in the register BULSTAT unimpeded visits Bulgaria;

within two weeks from the date of registration of the property register as a new payer's utility bills in the relevant box office ;

and within two months - in district tax office .

Now you , as the owner of the immovable property on the territory of Bulgaria, shall annually pay a number of taxes and fees :

property taxes (0.15 - 5 % per year, depending on the region) , paid quarterly : full callable in the first quarter of the taxpayer receives a 5% discount ;

land tax (0.15 % per year);

VAT (20% per year);

In addition, it includes utilities, fee for removal of household waste , servicing fee (if you have purchased apartments in the complex assumes such) .
Content tags: Overseas property
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