
Step 1: Determining the main parameters when choosing property – approximate budget and location;
Step 2: Selection of offers by contacting real estate agencies, agents, and property owners, review of real estate web sites, viewings, negotiations on the selling price;
Step 3: Legal verifications made mandatorily by an attorney and including: verification of property title, verification for land charges and encumbrances, checking documents, verification of the marital status of the seller – natural person or verification in the Companies Register if the seller is a juridical person, and other verifications, inspections and checks, if necessary.
Step 4: Signing preliminary contract, mandatorily in the presence of an attorney, containing a detailed description of the property, price and method of payment, deadline for signing the final contract (Title Deed), as well as payment of a deposit by the purchaser.
Step 5: Preparation of the required documents and declarations for completing the transaction before the Notary;
Step 6: Payment of the selling price with a bank transfer;
Step 7: Signing the Title Deed and transferring the possession of the Title Deed over the property; the transaction before the Notary is performed in the presence of an Attorney, who checks all documents; registration of the Title Deed in the Property Register with the Registry Agency;
Costs and expenses for transferring title:
– Municipality tax, which is approximately 3-4% on the material interest of transaction and is estimated by each municipality;
– Charge for registration into the Property Register – 0,1% on the specified material interest;
– Notary charge – it is estimated proportionately in a accordance with the material interest of the transaction, as follows:
Notary charge on specified material interest (in BGN)
Up to 100 BGN including – 30
101 – 1000 BGN – 30 + 1,5% for the difference above 100 BGN
1001 – 10 000 BGN – 43,50 + 1,3% for the difference above 1000 BGN
10 001 – 50 000 BGN. – 160,50 + 0,8% for the difference above 10 000 BGN
50 001 – 100 000 BGN. – 480,50 + 0,5% for the difference above 50 000 BGN
100 001 – 500 000 BGN – 730,50 + 0,2% for the difference above 100 000 BGN
For amounts exceeding 500 000 BGN – 1530,50 + 0,1% for the difference above 500 000 BGN, but not more than 6000 BGN
– Bank fees and charges;
– Fee for translation of the documents/for interpreter;
– Attorney’s fee – upon agreement (TBN);
– Commission for the agency – upon agreement.
Duties and obligations of the new owner
– To declare the acquisition of title over the property in the respective tax administration within 2 months after acquisition;
– To register as the property owner in the BULSTAT Register;
– To change the registration of the water and electricity meters in their name;
– To pay the annual tax for the property;