Bying

Bying of real estate in Bulgaria

 The purchase of real estate in Bulgaria is a subsequent process related to the preparation, purchase and subsequent stage. Once the client chooses his home, it should be booked. The reservation is the payment of a certain amount, usually in the amount of 2000 euros from the buyer to the seller.

After booking the property, the seller should prepare certain documents required by law. The same goes for the buyer. Next is a check to see if the property has encumbrances and if so, how soon they can be cleared. Regarding the complexity of the preparation of all documents, both parties sign a preliminary contract, which specifies all the important details of the sale and the penalties that the parties are obliged to pay if the contract is terminated due to someone's fault.

Once all the parties have prepared the documents within the specified period, notarial proceedings should be initiated. The notary reviews all documents before signing the notary deed.

After signing the notary deed and provided that there is no registration of a mortgage, the property should be registered by the new owner in the municipality.

Along with the registration in the municipality, it is good to start the procedure for changing the bills for electricity and water.

The procedure described above is a hypothesis of buying a property, provided that there is no mortgage already established and the buyer will not establish one.

If a mortgage will be established on the property to be purchased, the purchase procedure differs in several moments. First and foremost, when you want to buy a property and establish a mortgage on it, it is important that you already have approval from the bank that you will receive the amount determined and requested by you. Also in the preliminary contract it should