Buyer's Guide » Purchase
Negotiating and making an offer
You might wish to negotiate any specific requests that differ from the original offer - price reductions, minor repairs, deferred payment, etc. – make an offer and we will forward it to the seller and negotiate on your behalf. Once your offer is accepted you will need to arrange for a deposit to be paid (usually it is 10 % of the agreed price) and ask for the property to be taken off the market immediately.
Foreign citizens (from countries outside EU) have to register a Bulgarian LTD company in order to be able to buy a plot of land or a house that comes with land. The procedure is very simple and normally takes 1 week time. The company could be registered 100% on your name or there could be several owners (shareholders). Our lawyer can organize the registration for you – in order to do that we will need a copy of your passport, your permanent address and a name for your company. The name should be unique and it should not contain symbols (only letters and numbers).
Our lawyer will then prepare all the necessary documents which you have to sign either at the Bulgarian Embassy in your country or here - in front of a Bulgarian notary. The fee for registering a company is 450 EUR.
Once your company is registered, you will be able to acquire the ownership of as many properties in Bulgaria as you wish.
Please, note that you can also use the company to start any kind of business in Bulgaria.
Once all the conditions are negotiated, a preliminary contract between the buyer and seller should be signed. We encourage you to use a solicitor or our lawyers to draw up a contract, instead of using the contract by the seller. This will save you a lot of headaches and will make sure that your interests will be protected.
Completing the deal
Bulgarian legislation implies that purchase/sale of real estate should be done before a notary. This is the moment when the buyer pays the remaining balance of the agreed price and the new Notary Deed (known in UK as Title deed) is signed. If you cannot be present, your lawyer or authorised by you person could sign on your behalf. Once the new deeds are signed, it usually takes couple of days, until the notary registers the sale with the respective registry agency and after that your title deed will be ready for collection.
If you choose to authorize one of our lawyers, he or she will receive the new title deeds when they are ready for collection. Our lawyers will also register the new owners with Bulstat register and declare the purchase with the tax authorities (where the property is located) at no additional charge. By law BULSTAT registration should be done within 7 days of purchase and the tax declaration - within a month. If you did not participate personally at the signing of the title deed, we will send the new Notary (Title) deeds and the keys for your property to an address you specify at no additional cost.