Visit the area in Bulgaria that you are considering buying in to satisfy any concerns you may have to help with your decision. Viewing trips can be arranged through Knight International. Our offices in Sofia and Sunny Beach have experienced English speaking Bulgarian staff who can accompany you if that's what you require.
Decide on your budget and the area you would like to purchase and choose the property that best suits your requirements. Confirm the total property price, schedules of payments and build construction timetable so you are happy and aware of when your payments will be due.
When fully satisfied, telephone or email the details of the reservation to your Knight International representative or call Freephone 0800 698 0999 Email email@example.com
. You will then be required to sign a reservation form and return it with your deposit payment (generally 1000 Euros) in order to hold the property and take it off the market. Your deposit is non refundable but will be deducted from the purchase price of your property on receipt of your first installment.
Your Preliminary contract of sale will be issued within 21 days of receipt of your reservation deposit. If the property has land you will need to register a company (similar to a Limited company in the UK). Unless buying at The Vineyards.
Use a solicitor to do the standard checks on:
- Title documents
- Licenses and permissions
- Debts on title
- Terms of contract
Once you are satisfied everything is correct please sign both copies and return to Knight International with your first installment by bank transfer or cheque within two weeks.
We will advise you in good time of installments as required in accordance with your schedule of payments as outlined in the Preliminary Contract. Prior to construction completion you will be advised when your final payment is due.
At the final completion stage, the remaining balance must be paid in order that the property can be signed into your name. In order for this to happen the Notary Act needs to be signed. Your legally appointed representative can sign on your behalf if you are unable to be present in Bulgaria to do this yourself. You will also be required to pay local government tax and notary tax which is between 2.5% -3% of the declared value of your property. You will receive the title deeds within one week to ten days of the Notary Act from the local council or Municipality as it’s known in Bulgaria.
This buyer’s guide is compiled to the best of our knowledge and in good faith. E&OE