Buyers Guide

The following is a step by step guide to buying your property. The process is slightly different for resale & off plan properties so both are listed below.

Don't worry if it seems a bit confusing - we'll do most of the work for you and we're on hand to guide you all the way to make the whole process as simple and hassle free as possible.

Off Plan Developments

Find a property
Complete reservation form & pay reservation fee
Complete preliminary contract of sale & management contract
Return signed contracts within 14 days along with 1st instalment
Further instalments due on agreed dates or as per building completion schedules.
Final instalment paid
Sign 'Notary Act' (Signs property into your name)
Title deeds delivered within 10 days.

Finding A Property

Use our website to find a property that suits you. If you can't find what you want we can help source somewhere that's matches your criteria whether you want a holiday home, investment property or even land with development potential. Our staff, agents and contacts in Bulgaria work as a team to find the right place for you.

We are pleased to arrange an inspection trip for you should you require it. Please call our office or email us for more information.

Reservation Form & Fee

A Reservation form can be downloaded from this website for you to complete.

Having completed the form, fax back the document to our UK office on 01737 766004.

The form should also be posted to our office along with a Ł750 reservation fee. Cheques should be payable to 'Balkan Horizons Ltd'

Note: Your reservation fee is non-refundable. It will however be deducted from the purchase price of your property upon receipt of the first instalment.

Preliminary Contract Of Sales & Management Contract

These contracts will be issued within 7 days of receipt of reservation fee.

Both copies of the contracts must be signed and returned to us along with initial instalment within 14 days.

Instalments & Building Schedules

Each development will vary with regard to payment schedules. A typical plan would require 30% deposit, 40% instalment when the relevant floor of your property is completed with the final payment being required on completion.

We will regularly update our website to show construction progress on each of our developments.

Final Payment & Transfer Of Title

We will contact you in plenty of time to advise when final payment is due.

On completion of building and final payment you will need to sign a 'Notary Act' to transfer ownership of property into your own name.

You will receive title deeds within 10 days.

Resale Property

In brief:

Find a property
Set up Bulgarian company (only necessary if property includes land itself)
Initial contract of sale drawn up
Holding deposit paid
Property taken off market temporarily
Deeds, titles & relevant documents checked
Final Payment
Notary Act signed
Property ownership granted after 30 days

Finding A Property

We are pleased to arrange an inspection trip for you should you require it. Please call our office or email us for more information.

Setting Up A Company

The Bulgarian Act on Foreign Investment allows foreigners to buy buildings but not land. This restriction is simply avoided by setting up a Bulgarian company which then owns the land. This law is due to be removed before EU membership in 2007. It is one of the main reasons that property prices are so attractive compared with Western Europe but it will not last.

We will do most of the work for you but the relevant documents must be signed at the Bulgarian Embassy in London. The incorporation documents can also be signed when in Bulgaria. We can arrange this should you wish to make an inspection trip.

Initial Contract Of Sale

Once deciding to go ahead with the purchase, the initial contract of sale is drawn up. This is normally sent within 7 days.

Both copies of the contract must be signed and returned to us.

Holding Deposit

A holding deposit is now due (normally between Ł500 - Ł1000 depending on the property). The deposit will be deducted from the overall sale price on completion.

Once the holding deposit has been received the property will be taken off the market for a period of 30 days.

Documents & Deeds

During the 30 day period we make all the relevant checks on documents & deeds for the property. This includes title deeds, licenses and any debts on the title etc.

Notary Act & Payment

Once all the relevant checks and inspections have been made you will need to make the final payment & sign a 'Notary Act'.

This transfers ownership of property into your own name.

You will receive title deeds within 10 days.

Taxation

Mortgages & Finance Links

Ministry of Economy
Bulgaria Business Forum
World Bank for SE Europe
Agency for Foriegn Investments
Ministry of Finance