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Questions and answers

What documents are required from the seller at the sale of a real estate?

At the sale of property, the seller must have the following documents:
  1. Document for ownership (notary deed or another ownership certificate);
  2. Document for identity (identity card, passport);
  3. Tax assessment of the property (done by the taxation authorities);
  4. Plan of the property (if the object of the deal is a yard);
  5. Partition report (if the property has been divided);
  6. A certificate that the property hasn’t been declared municipal (only for deals with yards; this certificate is issued by department “Municipal ownership”);
  7. A certificate that the building has been constructed according to an approved architectural plan (necessary only if there has been construction in the property, which has not been stated in the notary deed);
  8. A certificate for inheritors (required if the owner is dead);
  9. Power of attorney (required if the seller cannot be present during the organization and conclusion of the deal, and has authorized another person);
  10. Other documents according to the characteristics of the property, for example a death certificate, a birth certificate, a divorce certificate, a marriage certificate, etc.

Why is a preliminary contract necessary?

The preliminary contract for sale of a real estate is an agreement between the seller and the buyer. It contains the basic elements of the final contract (information about the seller and the buyer, about the property, price, terms, etc.). The preliminary contract for sale of a real estate does not transfer the ownership right over the property. Through the preliminary contract the seller and the buyer only take responsibility to conclude a final contract in the future, with which to transfer the ownership right over the property.

The preliminary contract must be in written form. When it is signed, the Buyer pays to the Seller a deposit, usually 10% of the property price.

Check for legal burdens of the real estate

Before the deal is concluded at the notary’s office, a check must be done at the registering service for legal burdens of the property. If the property has any burdens, after the sale they are transferred to the new owner, and he/she takes responsibility for them.

Can foreign citizens buy property in Bulgaria?

According to the Law for ownership, foreign citizens can acquire real estates in Bulgaria with the permission of the Minister of Finance. There is another opportunity: the foreign citizen can register a company in Bulgaria. Then he/she can acquire any real estate except agricultural land.