Real estate purchase procedure

Buying process - The perfect property in just a few steps

Well you have decided to buy a property in Bulgaria and would like to know more about the buying process. We will be happy to help you with an overview of the most important steps you should take when purchasing real estate in Bulgaria. From the search for the perfect property to the signing of the purchase contract – we accompany you on your way and give you useful tips. Read on to find out how you can realize your dream of owning real estate in Bulgaria!

The 6 important steps in buying real estate

In 6 easy steps to your dream property

Step 1

The get-to-know-you phone call and real estate search

During a phone call or Zoom conference, we can work together to determine what type of property best fits your planned investment amount and what requirements should be met for your purchase.

We will also discuss in which region you would like to buy a property, whether it should be a vacation home, a permanent residence or an investment.

You are welcome to search for suitable properties on our website in advance or simply let us know your wishes and needs for an individual search.

Step 2

On-site visit: Experience & Exploration Visit

Once you have made a selection of potential properties, please make an appointment with us and come to Bulgaria to view the selected properties and explore the surrounding area. An on-site visit gives you the opportunity to get to know the property and the surrounding area better and get a feel for whether the property is right for you. In doing so, you can check the infrastructure, the surrounding area and the accessibility to public transportation to make sure that the property meets your needs. We are happy to give you insider tips for good restaurants, bars or wellness and relaxation places.

We will be happy to show you selected properties and answer any questions you may have regarding the property and its surroundings.

Step 3

Prepare documents

Buying a property in Bulgaria requires careful consideration of the legal and financial aspects. We cooperate with experienced lawyers who have several years of professional experience and are perfectly familiar with the real estate law in Bulgaria. The attorney will review the preliminary contract and purchase agreement, clarify property rights, and ensure that all necessary permits and documents are in place. In addition, you should thoroughly review your finances and make sure you have sufficient funds to cover the purchase price, taxes and utilities.

There is also a possibility for EU citizens to obtain a mortgage from Bulgarian banks upon presentation of a salary statement and other documents. The percentage varies between 2.6 and 5 %.

The conditions vary depending on the bank.

Step 4

Pre-contract

Once you have seen all the properties that interest you and have decided on a great property, a preliminary contract is signed. As a rule, when you sign the preliminary contract, it is ensured that the property is reserved for you. You have to pay a deposit for the real estate (usually 2.000 €, but it can vary depending on the real estate). Of course, this amount is later deducted from the purchase price of the property. You are welcome to pay the deposit in Bulgaria in person or by bank transfer. The deposit is valid for about 1 month and during this time the apartment is not offered to anyone else.

Step 5

Purchase contract, payments and transfer of ownership

Next, the appointed lawyer will prepare a full purchase agreement.

Once signed, these contracts are legally binding and contain the details of the buyer and seller, the property data, the purchase price, the agreed payment structure and the completion date. Before the contract is prepared, some important aspects are checked by the lawyer, namely whether the property you want to buy is free from taxes and encumbrances, has a title deed and is owned by the seller.

After the purchase agreement is signed, you must make the agreed payments. Once all payments have been made, the transfer of ownership takes place.

The final stage of the purchase consists in paying the balance of the purchase price to the owner in the presence of a notary. At this point, the title deed of the property is transferred into the name of the buyer.

The notarial transfer of real estate takes place after full payment, which is certified by a notary in the place of the real estate. For example, if the property is located in the municipality of Varna, the change of ownership can only be carried out by one of the notaries authorized to act at the Varna District Court.

It is very important to know that when transferring the property, the buyer will have additional costs on top of the value of the property.

These costs include, among others, notary fees and land transfer tax. On average, all these costs account for about 4-5% of the value of the property.

Our experienced partner attorneys will assist you in all phases of the transaction as well as after the re-registration of the property. The registration in the Bulstat register, the re-registration of water and electricity bills in the name of the new owner, as well as all contact with the tax office is completely taken care of by the lawyer.

Step 6

Congratulations: you are now the owner of a wonderful property in Bulgaria!

We wish you all the best in your new home. Even after the purchase, we can help you with pleasure. For example, if you have questions about living in Bulgaria or have purchased your property as an investment property and would now like to convey it for rent, we can help you.

We offer free support throughout the purchase process that goes beyond the purchase. For example, we can help you to apply for residence or to open a company in Bulgaria. We are also happy to provide building materials, furniture or professionals for repair.