Buying process in Bulgaria

Our tOOur team in Bulgaria is available to assist English
– speaking buyers in person, showing properties, areas and
providing valuable information about the country and its
residential tourism market. We work with English-speaking
lawyers and leading banks to assist our clients during the
purchasing process, whose main characteristics can be
summarised as follows:

The total purchase cost should not exceed 5 %( including
lawyer's fees), except in the case of older and/or cheaper
properties.

Under Bulgarian law a foreigner cannot own land. If you
wish to buy land or a house with a plot you can circumvent
this law by forming a Bulgarian company through which you
can legally own the property. However, you do not need to
form a company to purchase an apartment.

We advise buyers to always use a lawyer

The purchase process consists of the following steps:
A reservation deposit is paid to hold the property –
usually 1,000 Euros.

If the property consists of land or an existing re-sale
property a Bulgarian company must be set up through which
it can be legally bought and owned.

An initial private purchase contract is signed (after
having been thoroughly checked by your lawyers) and an
initial payment is due – usually about 10% to 40%,
depending on whether it is a re-sale or off-plan property.

Stage payments are paid throughout the building process
for most off-plan property.

The Notary Act is then signed in front of a Bulgarian
notary. In the case of an off-plan development, the Notary
Act is signed once the building is completed.

The time scale of each of the steps depends upon the type
of sale. In the case of an off-plan development, the
preliminary contract is usually signed within weeks of the
reservation.