Purchasing a Property

Find out what to expect from the house purchase process after making an offer…

In general the procedure for buying a property in Bulgaria is as follows:

Once a property has been chosen and the buyer and seller agree on a price it is advisable to hire a lawyer who will check the property with all the institutions involved. This includes a check of the Title Deeds, and of any taxes and mortgage installments due by the owner. The lawyer ensures that all the necessary documents for the completion of the purchase are available, arranges the conditions of the purchase contract, draws up the preliminary contracts and final contract.

The buyer signs a preliminary contract (Предварителен договор) to secure the property and pays a deposit to the owner. This is usually ten percent of the price of the property and it is not unusual for a buyer to be asked to provide the money in cash. The preliminary contract contains all the conditions of the sale. The next step is to set a completion date for the purchase. It is also recommended to conduct a survey in the case of a resale property.

When buying land or a property with land, the buyer will also have to register a company in Bulgaria.

Completion date

The purchase of the property is finalised at the Public Notary office and the rest of the sum due is at this point. The Notary then issues the Notary Act with the name of the new owner. Most sellers and buyers agree on the period of time the seller has to vacate the property. But ownership of the property is received once the contract is signed in front of a Public Notary. The Notary Act which certifies that the buyer owns the property can be obtained from the Notary office a few days after signing the contract. The Notary Act should be registered at the Registry Agency. Foreign investors should be registered in the BULSTAT register for tax purposes.