Legal Information for purchasing a property in Bulgaria:
Purchasing process: You will need to put down a 10% payment to reserve a property. You are allowed to carry 8000 Leva (approximately 2500 GBP) through Bulgarian customs. At Sunseekers we advise you to take a credit card as a back up to money. Buying a property in Bulgaria : Sunseeker Properties will arrange an appointment with an English-speaking solicitor who will extract the contract. To take the property off the market a deposit is required to be paid. Viewing trips: Sunseeker Properties can arrange viewing trips for you all year around from most of the major airport in United Kingdom. Mortgages: Unfortunately there no mortgage corporations in Bulgaria that may offer you mortgages yet. However, to buy a property in Turkey you may get a re-mortgage on your existing property in United Kingdom . You may make a decision to raise funds to buy a property abroad, by way of re-mortgaging your own property in the UK . With interest rates so low this is an admired choice. We can organize for impartial advice on this service. The process is very straightforward and it will take at least two-three weeks, as well as £600 to complete. If the buyer will not be staying in Bulgaria throughout this process, the buyer will have to sign "power of attorney" to your lawyer so they can act on your behalf and sign to close the final property contract in your absence. A preliminary agreement then needs to be signed for the sale with the agent and give 10% deposit to the agent to protect the property for you solely for a month. The Euro is generally the preferred exchange to use. The next stage is to then Sign the Notary Act (Contract of purchase) in front of a Bulgarian Notary either in Bulgaria or at the Bulgarian embassy in London . The Final Notary Act is not signed until the building is completed, please note. This is in the case off plan developments. The applicable taxes that investors buying property in Bulgaria will be legally responsible for will vary from person to person due to a number of issues including your tax domicile, the extent of your business activities in Bulgaria, the nature of the property transaction and more.
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