 |
|
|
|
Start > News >
Purchase Progress Bulgarian real estate |
Below is the standard purchase process in Bulgaria, and issues that may affect that purchase:
- As a non-Bulgarian national is currently not permitted to own land in Bulgaria, it is still
necessary for the purchaser to form a Bulgarian limited company that can own land. The purchaser will need to register as a company director, which has to be done through a solicitor and will take around four weeks.
- The preliminary contract of sale will be drawn up by the purchaser’s chosen lawyer, at
which stage the purchaser will be expected to pay a 10% deposit.
- The purchaser’s lawyer will conduct the necessary checks on title documents, licenses
and permissions, debts on title, and terms of contract.
- The purchaser must pay the balance of the purchase price as well as land tax and the
relevant fees, amounting to around 5% of the purchase price. On payment of these costs, the property will legally belong to the purchaser.
Costs of a standard property purchase in Bulgaria include the following:
- 2% state tax is calculated on the purchase price and is similar to a stamp duty.
- The notary fee is calculated using the price in the title deed. The cost will be around
€350 for a typical 2-bedroom apartment. The maximum fee is €1,550. These fees can be shared between the buyer and the seller, as agreed.
- Land registry costs 0.1% of the value.
- Legal fees are likely to amount to 1% of property value in most cases.
|
| |
17.10.2007
|
|
| |
|
Translate this page to:
Apartments 2 Bedroom, Dragalevci
167658€
Apartments 2 Bedroom, Lozenec
850€
|
|
|