The procedure for buying real estate (apartments, houses, commercial real estate) from the builder in Bulgaria.
1. The choice of real estate.
2. After selecting the property, a reservation amount of 1000-2000 euros is made (each developer individually determines the amount of the reservation) - this amount is included in the purchase price and remains with the developer. The object is removed from sale for up to 30 days, the price is fixed.
3. A preliminary contract is signed between the buyer and the developer. The pre-sale contract for the sale of sales describes in detail the main conditions and parameters of the transaction: the location and full description of the object, price, forms and terms of payment, rights and obligations of the seller and buyer, penalties on both sides for fulfillment of obligations, and various additional conditions by agreement.
4. Within 30 days after making the reservation amount, the buyer must pay the amount of 30% to 50% of the total value of the property, the percentage is determined by the developer depending on the timing and form of payment proposed by the buyer. (If the next payment is not received within 30 days after making the reservation amount and the buyer does not enter into additional negotiations with the seller, the contract is considered terminated, the reservation amount remains to the seller as a penalty for unfulfilled obligations on the part of the buyer)
5. The following payments are made in accordance with the agreements between the seller and the buyer, prescribed in the preliminary contract, they may be different. Interest-free installment payments by one year or until termination are standardly possible. There are objects in which a longer installment plan of up to 2,3.5 years is possible. At the discretion of the builder, a long installment plan is not always interest-free. As a rule, individual contractual conditions apply.
6. Within the time period established by the Preliminary contract, the parties to the transaction, in person or through a proxy confirming their right to a notarized power of attorney, enter into a Property Agreement in the form of a Notarial Act. By the time this document is signed, all final settlements between the parties to the agreement should be carried out.
7. At the request of the parties, a preliminary contract may not be concluded, as a rule, this happens in cases where the buyer is ready to pay the full cost of the property and immediately go through the process of registering real estate property. In this case, the reservation amount is paid, the object is withdrawn from sale, the process of preparing documents for the transaction begins. By the time of signing the notarial deed, all final settlements between the parties under the contract should be carried out.
A notarial deed of transfer of ownership is signed by a notary.
The seller must prepare all relevant documents required for a notarial transaction.
Necessary documents for a notarial transaction by the seller:
1. Land ownership document (notarial deed).
2. Building permit.
3. Plan / kitty / issued by the Cadastre and Surveying Service.
4. Real estate tax assessment issued by the municipality.
5. A certificate of absence of burdens and prohibitions on property, the right to the right to use the object by third parties, open business affairs, etc.
6. Certificate of commissioning (If construction is fully completed)
Necessary documents on the part of the buyer with personal presence on the transaction:
Declaration of citizenship and civil status in accordance with Art. 25, clause 8 from ZNND, declaration of origin of funds in accordance with art.66 clause 2 from ZMIP, Declaration on measures to combat money laundering in accordance with art.42 clause 2 from ZMIP - Declarations are signed on the spot at the notary.
Necessary documents on the part of the buyer for the transaction through a trustee:
1. The power of attorney signed at the Bulgarian Consulate or the power of attorney certified by a notary at the place of residence. A proxy can be (a relative or acquaintance, an independent lawyer, a lawyer of the LiderBG company, the manager of the LiderBG company)
2. Declaration of citizenship and civil status, art.25, par.8, from the ZNND, signed at the Bulgarian Consulate or certified by a notary at the place of residence.
3. Declaration on the occurrence of cash Art.66, par.2 from ZMIP, signed at the Bulgarian consulate or certified by a notary at the place of residence.
4. Declaration on measures against money laundering, art. 42, par. 2 from ZMIP, signed at the Bulgarian consulate or certified by a notary at the place of residence.
All of these documents are prepared by a lawyer of the LiderBG company. The buyer certifies them at the Bulgarian Consulate or at a notary public at the place of residence and sends them by mail to Bulgaria. For the Bulgarian Consulate, documents are prepared in Bulgarian. In the absence of the Bulgarian Consulate, documents are prepared for signing by the buyer at the notary's place of residence in the corresponding official language, into which a license translation into the Bulgarian language is subsequently made in Bulgaria. The LiderBG company provides translation services. Important! Signing documents at a notary at the place of residence means paying for the translation of the text of the documents from the Bulgarian language into the corresponding official language and the reverse licensed translation into Bulgarian.
After the buyer and seller have signed the act of purchase and sale, the notary certifies it with his signature and provides it to the district loan. The judge makes changes to the state register, the mark is also made in the notarial act itself. Registration in the state register takes from 3 to 5, in connection with this procedure, the buyer receives a notarial deed not immediately after signing it with a notary, but after its registration in the state register.