The Buying Process:

The buying process in Bulgaria is relatively straight forward; however one issue needs to be considered which is, at present if you purchase a house you will need to set up a Bulgarian company in order to own both the land and the house., however due to Bulgaria being an emerging country most developments are new and are therefore bought off-plan.

Here we have simplified the buying process for you:

• You give us your property requirements

• We arrange a viewing trip to view a selection of properties that match your requirements or we send you details of the properties that you have chosen from our website. We do not arrange flights.

• We arrange for a meeting with our recommended mortgage advisor and legal advisor either in the UK or in Bulgaria.

• You place a deposit to secure the property purchase, this is usually 10% for a resale or up to 25% for a new development.

• A preliminary contract is signed

• If the purchase is for a house, then a Bulgarian company is set up for you at a charge of around £600 plus you will need to deposit 5000 lev in a Bulgarian bank account which can be set up for you (if you are buying an apartment there is no need to set up a Bulgarian company).

• The usual checks are carried out

• The notary act is signed and final payment is received or you will be advised when the next payment is due

• The property is now owned by you

It is advisable to always keep an extra 10% available for costs such as land tax, solicitors etc.

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