Process of buying an apartmentOnce you have decided to buy property in Bulgaria,you may think where to start from, and what essentials to take into account to conclude a profitable deal?
Process of buying a property in Bulgaria can roughly be divided into several stages:
· Choice of region and type of property
· Viewing the objects
· Concluding a deal
· After-sale registration
Choice of a region
Type and value of property is most often defined depending on the region where it is located. In resorts people often buy apartments, villas and studio apartments, whereas in mountainous regions, preference is given to cottage property type. In the central part of Bulgaria a small house in the village can be bought for a low price, and in the big cities people usually buy ordinary flats. Of course, the villa on the coast will cost several times more expensive than a house in the village. It’s all about your finances.
Viewing the options
So you have decided with what purpose and where to buy housing. Now you’ll have to focus on a specific choice. Being at home you can first contact the owners of several objects and discuss the details. In order to choose a really good apartment or house, you must personally go to Bulgaria and examine it. The so-called viewing trips are useful in this regard, organized by real estate agents free of charge, in case of deal conclusion.
Registering of «purchase and sale»
Usually, the owner and the buyer conclude a preliminary deal with the deposit amount. Then the paperwork follows, and full payment is made on the day of signing the contract. If you buy a property through a broker company, they are engaged in the preparation of all necessary documents. The deal must necessarily be notarized!
Assumption of ownership
After the documents are signed, and the property becomes yours, you must obtain Bulstat number and register an object in the tax office in order to pay annual property taxes. This can be done with the help of a lawyer or on your own.