How to Sell Property in Bulgaria

Since joining the EU, Bulgaria has been a hotspot for investors from all over the world, who have poured money into the country’s residential real estate market and resorts for tourists. In the current market, real estate assets are quite valuable, making the sale of a property in Bulgaria a lucrative business venture.

 

In Bulgaria, a seller must first comply with several legal requirements.

 

To protect yourself against fraud and other potential issues, it’s important to follow a few simple guidelines when selling a home in Bulgaria. Even if you plan to deal with a real estate agent who promises to handle the paperwork and settlement, you should still speak with a Bulgarian attorney who specialises in land and real estate regulations before moving forward.

Also, consult your Bulgarian lawyer for expert insight into the local tax rates before committing to a property purchase in Bulgaria.

 

Transferring ownership of a piece of real estate

There are a number of formalities that must be met in order to sell a home in Bulgaria. Since foreign sellers are frequently not present in Bulgaria at the time of the exchange, they might have a real estate agent or lawyer handle the transaction on their behalf. It is highly advised, however, that a Bulgarian attorney be retained for assistance during the procedure

 

Selling a home in Bulgaria involves the following procedures:

These forms will be used by the agent or solicitor to create the final sales documents that you will sign and return to them;

The documents must be signed before a public notary in your home city or a Bulgarian notary at the Bulgarian embassy in your country.

Payment must be made in the presence of a Bulgarian notary who will examine all relevant documents before the sale is finalised;

A new contract (title deed) will be issued by the notary in the name of the buyer (the buyer). The judical registration process typically takes three to four business days

Your agent or attorney will need to show the bank the new deed after it has been received as proof of payment. The money will be released after this is done;

About six weeks are needed to complete everything after the initial investment is made.

A Reputable Notary based in Bulgaria and can help you with any legal questions you may have about the sale of real estate in that country.

 

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