Specific Steps in Buying a Property

Customarily, at the time the preliminary contract is executed, a 10% deposit is placed or made by the buyer. A reservation receipt should be received from your agent after your reservation fee has been paid. It should contain a description, the location and cost of your property, the reservation amount and how long your property is reserved for.

Once the title to the real estate is deemed clear, and once all other inspections and evaluations have been completed, the time will arrive for the signing of the final contract. The final step   in buying a property in Bulgaria is completion of the purchase and sale in front of a Notary Public. After completion of this step, the buyer becomes the legal owner of the property. Necessary documents to complete the transaction are:

  • Identity documents of persons in the transaction;
  • Document certifying ownership of the seller;
  • Latest sketch of the property;
  • Current tax valuation;
  • Certificate of heirs if the owner has died;
  • Certificate of marital status;
  • Certificate of absence / presence of liens on property
  • Declaration of no tax liability to the state;
  • Power of attorney if the Buyer/s is/are not present
  • The role of the Notary is to check all documents for discrepancies and charges following which he declares the transaction to be completed by arranging the transfer of ownership of the property. The Notary Deed and the establishing of property rights can be obtained from the Notary after he has made the relevant entries in the Registry Agency.
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