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Buying a property in Bulgaria is different from buying a property in UK. Foreign nationals cannot own land in Bulgaria directly. This means that a lot of properties for sale in Bulgaria require limited liability company incorporation before you can proceed with a purchase. This law is likely to change in the near future to comply with EU legislation. However this should not be a concern to the buyers who buy off plan apartments on Sunny Beach resort complexes (please verify with your agent if this is the case). You would not need to incorporate a company to buy apartments on the complexes we advertise.
As apartments in Bulgaria are getting sold and reserved quickly, it is strongly advisable to verbally reserve an apartment for 2-3 days and send a reservation fee to keep the apartment off the market for 3 weeks. We would require your personal details (full name of the buyer/s, their addresses, passport numbers, its date and place of issue). We would at this stage advice what is the best unit to buy to satisfy your investment decision - either buy-to let or a holiday home.
We would be happy to discuss your furnishing options when you buy off plan apartments in Bulgaria. You would have an option to include different furniture packages in the price of the apartment, so you can spread the payment of the furniture during the period of construction.
You would receive the receipt of the holding deposit payment together with the two copies of the preliminary contract of sale for signatures with the further instructions. The preliminary contracts are written in English.
The contracts are shipped to the construction company in Bulgaria for signature and are returned when the buyer makes initial down payment less reservation fee according to the contract. The proof of payment would be required.
The construction company together with the UK agent (our company) will inform you about the dates of further payments according to the contract, unless the dates are specified in the contract.
Is arranged when the final outstanding payment is made. You would be required to travel to Bulgaria to sign the final contract of sale at the Notary Public in the district where you bought the property, unless you issued your solicitor with power of Attorney. It is however advisable to travel to Bulgaria at this stage.
The transfer process of the Bulgarian property should not take more than 3-4 working days, but appointment are made in advance, to ensure that the Notary clerk will see the buyer. We can arrange this on request. You would have your Title Deeds in 3-4 days.
Please check the taxes you would have to pay in advance, as different developers offer different incentives and sometimes pay some of the costs for the buyers. We would only be able to advice you on the properties for sale in Bulgaria that we offer.
Few years ago it was not possible to arrange a second mortgage secured on Bulgarian property for foreign nationals. Due to the growing confidence in Bulgarian property market, UK lenders are prepared to give a second mortgage on a completed property in Bulgaria - apartment or villa. The interests rates are high compared to UK ones, but watch this space as the rates will go down. It is advisable to ensure that you can buy a property in Bulgaria by talking to a financial advisor before you sign a contract.
With buy-to-let trend in Bulgaria continue to grow, the options will increase. However currently the cheapest way to arrange a second mortgage is to release equity (re-mortgage) from your existing home in UK.
Our company as your UK agent for Bulgaria property would be able to introduce you to the lenders who would be able to assist you with this. Please ask for details.
For the best advice on buying off-plan property in Bulgaria, Sunny Beach resort apartments in particular, pick up the phone and talk to UK agents for Bulgarian property - our consultants.
We are recommending several mortgage brokers in UK and Bulgaria to provide Non Bulgarian citizens with the best deals available on the market to complete their property purchase in Bulgaria.
Benefits of using the services of our associates are:
- Competitive and comprehensive mortgage offer (click here for general information)
- Short period for loan approval
- Short period for completion of the mortgage
- Expert help and assistance in preparing and submitting all needed documents
- Undertaking of all correspondence with the Developer and gathering of all required property documents
- Mortgage brokers shall act as your representative in front of the bank and shall take care of the whole process from the initial correspondence with the chosen Lender till the maturity of the loan
- Expert help on submitting and preparing the documents
- Opportunity to start building a credit history in Bulgaria and expand an investing capability
- High capital gains in Bulgaria property market exceed the cost of borrowed funds
Submit the simple form below and one of the mortgage brokers will get in touch with you in the next 48 hours.
Enquiry Form
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Sea Resort Apartments
