How to buy property in Bulgaria
After you have made your choice the purchase process starts, as it consists of the following steps:
1. Apartments and flats are reserved. After the unit is selected as a rule the buyer has to pay a deposit in the amount of 1,000-2,000 EUR. Only after that will the property be marked as reserved on the site and will be no longer available for sale.
2. After paying the deposit a preliminary agreement is signed within 30 days, as this agreement doesn’t need to be certified by a notary public. The agreement settles the basic conditions which will later be copied to the Notary Deed. The conditions include a description of the property, the price, conditions and terms of payment, and for off-plan properties – the term for finishing the property.
3. Drawing up of the Notary Deed which is considered the legal document certifying the owner of the property. It is drawn up by the local notary public in the presence of the buyer and the seller.
4. The notary public certifies the deed and registers it with the Registry Agency. This is also noted in the notary deed.
5. A week after receiving the Notary Deed the lawyers enter the legal person-buyer of the property in the system of the Bulgarian National Statistic Institute. The property owner (legal person) will then receive a card with a unique BULSTAT number (ID number) under which it will organize all the issues related to the property. Within a two-week period our lawyers will also register the property and its owner (the company) in the tax office.