WHEN BUYING

After choosing Bulgaria as a destination for your investment you need to decide which region would you like to invest- in. You should also consider the wider picture i.e. property location, local facilities, rental possibilities etc. Once you have found the property for you and you have made up your mind the next step would be to reserve the property so it would be taken off the market. In most of the cases you need to put down a 10% deposit. A preliminary contract will be signed with the seller.  If at a later stage though, you decide not to proceed with the purchase the 10% deposit is not- refundable. If the seller decides not to proceed with the transaction, or the results from the local searches do not allow the transaction, your deposit will be refunded to you in full. 
If the property is house with land or a plot of land then a Bulgarian Ltd. company has to be set up. According to the Bulgarian Law foreign individual persons can buy the buildings but not the land. That’s why a company has to be registered and this company will buy the property and will own the land. You will be the owner of the company and, respectively, of the land. Note, that this company can own a number of properties.
The necessary documents can be prepared by a solicitor who will also submit them. You will just have to sign the documents. The procedure of setting up a limited company takes between 3-5 weeks.  As soon as the company formation has been completed, all of the necessary documents are ready and the full payment has been received the ownership rights can be transferred into your company’s name.

For apartments when there is no land included and no company has to be registered the terms and conditions of the buying process are formed according the construction schedule, payment schemes etc.

Other costs
Please, note that the cost displayed on the website is not the total purchase price. It includes the price of the property and the legal consultancy fees throughout the whole purchase process.  On the top of this price are:

• Agency commission
• Company registration fee when buying a house with land or a plot of land
• Maintenance of the property & accountancy of the company for 1 year
• Stamp duty, notary fees

After-sale
Once the property is yours you should be aware that you will need an accountant for yearly-booking of your company.
There is also an annual Council Property Tax & garbage collection tax which have to be paid. Usually the real estate agencies offer assistance with these.