Getting started

You've probably guessed by now that we really want you to find your ideal property and that we'll help you avoid the pitfalls, make use of the benefits and that we'll do everything we can to make your stay and your investment pleasurable and lucrative.

There are certain allowances and restrictions for foreigners in relation to property ownership, as you will probably already know. If you would like to buy a house with land or a garden, you would register a Bulgarian Limited Company. This is not expensive and we handle this for you. Your company then buys the property and owns it and you are the owner of the company. Laws have recently been changed on this and in 2012 foreigners will be allowed to own land. The cost of registering your company is already included in the price of each property. Should you purchase more than one property or a flat, we will deduct €550 from the purchase price on any property after the first one.

The procedure

Once you have found a property you want to buy, we start by retaining, on your behalf, the foremost property solicitors in the area of your purchase to do all the necessary legal work. An order contract is made which lays out very specifically what you need us to do on your behalf and protects you, as well as us. A Notary Deed is then prepared so that all the actions needed can be done. As per the order contract, a deposit is made on the property. We then carry out the required title searches to ensure your property has clear title and is free of liens. Upon clearance of title, we start proceedings for registration of your Bulgarian Limited Company (if required). Once your Limited Company is registered, we complete the purchase of your property and take possession on your behalf, after having re-confirmed moments before the sale that indeed no claims or liens have been laid on the property in the interim period. The property is registered with the tax office and if requested we arrange for utility and phone connection (The new owner is responsible for deposits and admin fees charged by utility & phone companies). Once these steps are complete we present you with all documentation and the keys to your new property.

It is very important that you fully understand everything that you sign, so we take time with you to ensure that you totally understand the documents and that you are in agreement. We make sure that if you have any questions or issues, these are fully handled to mutual satisfaction and according to law. *We NEVER put a lower "tax valuation" price on the title deed than what you actually paid (as has been common practice here). Everything is clear and transparent. Official translators are present at any signing of documents at the solicitors, for your further protection.

So now, here's the steps to acquiring your property!

To enquire about a property click on the Enquire about this property button underneath the main picture on the Property Search Details page.
We will check the status of that property and respond in short order.
When you have decided you'd like to come and view, we help with arrangements and take you to view the properties you chose, and if the remit changes, arrange for further properties to be viewed. We seriously take into account your needs and budget and pride ourselves in finding the right property for you. We'll make sure you understand the pro's and cons of each property.
We seriously recommend you do NOT buy a property without viewing it in person!
When you determine to buy we employ a solicitor to provide an order contract (which protects both parties very thoroughly).
We then obtain a Notary Deed in order to accomplish the actions required for your purchase.
A deposit on the property an some of the initial work is then accepted (this is fully refundable if purchase fails from the seller's side) and commence title & deed searches.
No further moneys will change hands until the exchange procedure is conducted in the presence of a solicitor.
Once we have confirmed title is correct and free from liens we act on your behalf through the Bulgarian legislature to secure your property.
The next step is to open and register, at the regional courthouse, your limited company (required if you are purchasing land).
Once open, the company is then registered with the tax office, social services and Bulstat. A company stamp is purchased (This is needed in Bulgaria as part of signing many documents - it's like a "corporate seal").
We now set a date for exchange and ask you for the balance of the purchase price to be deposited.
On completion the vendor is paid the balance, municipal (purchase) tax is paid and all legal fees and commissions are settled.
Your property is then registered with the tax office.
Connection to or transfer of utilities and phone are arranged if required.
Your company, the keys to your new property and all documents are presented to you.

Special Note:

It's a good idea to keep an open mind and flexible attitude when you come to Bulgaria, and this also applies to buying your property here. It can sometimes happen that sellers at the last minute decide to take their property off the market either because they expect values to go up, or for reasons known to God only. Also it's not uncommon that the seller may try to raise the price when they see a potential client appears interested.

Our tips:

Appear very neutral at each viewing, and possibly point out or mention the odd item you're not happy with. When you get back in the car and out of sight, by all means express your excitement, we'll be excited with you!
Don't fixate your attention on one property as being the only one. There are many properties here, and we will help you find one that you'll be really happy with.
Enjoy the viewing experience! You'll see things you will remember always, and have many stories to tell when you go home. Undoubtedly you'll be touched by the way of life here. Viewing is part of the pleasure of the purchase.

Building and Renovation Procedure

When arranging building and renovations work we start by finding out what You want from the property. We revisit the property with you as necessary and draw up an initial brief. We retain the services of an architect if needed and provide a written quote of costs, schedule of works and payment schedule. Our Development Manager oversees all building and construction work and is always on hand to handle any changes or additions.

Important notice:

Foreign buyers should be aware that in Bulgaria it is common practice to show a «rateable value» on title deeds which will always be lower than the selling price of a property. This is usually at the request of the vendor and sometimes by Bulgarian buyers. We do not endorse this practice as it can cause difficulties later when you want to sell your property. We therefor put the price you paid for the property on the deed.

Additionally, few people use credit cards or cheques. For this reason large transactions are witnessed and notarised. All Bulgarian citizens and residents have ID cards, so be sure to carry your passport with you. Any cash over 8000 BGN Leva must be declared at your Port of Entry where you will be issued with a Certificate of Import. Failure to declare carries heavy fines. This certificate will be required when you deposit amounts over 8000 BGN into a Bulgarian Bank Account. This is only for cash brought into the country, and does not apply to any bank transfer transactions.

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