In general, holiday apartments in Bulgaria are sold as endless lease. The most essential points of this purchase are listed below.
 

Select from our website the property that you would like to view and send us the reference numbers.

 

Once you have chosen an apartment, in order to reserve it and take it off from the market you have to pay are reservation fee, which normally varies between 1000 to 3000 Euros depending on the specific development. Please bear in mind, that in most cases this fee is non-refundable. However it is deducted from one of the next installments due.

 

The buyer the needs to organize quick payment of the reservation fee with one of the following options:

·         Bank transfer – takes minimum of 3 working days

·         Credit card payment to our Head office in Balchik

·         Cash payment in our Head office in Balchik

 

Once the reservation fee has been paid there is a period of 7-10 days during which the terms of the Preliminary contract are to be agreed on. Usually the preliminary contract has to be signed in this 7-10 day period. Within this period the buyers has also time to organize funds in order to make the first payment on time.

 

The preliminary contract is very important, because it settles all important issues, such as the obligations, payment terms, specifications of the property, delivery date, penalties and etc. In order for the preliminary contract to be properly prepared, the following details have to be provided:

·         Copy scan of passports

·         Permanent address

·         Address for correspondence (when applicable)

·         Telephone, e-mail

 

Most of the developers include in the preliminary contracts a clause for the obligation of the buyer to conclude after the delivery date a maintenance contract for the common parts of the building. This contract can be signed in person by the buyer, or by a proxy of the buyer.

 

Charges involved with the first installment:

- Conveyance fee: 350 Euros

Blacksevillas^® agency commission is 0%.

 

Usually the first installment is due within 2 weeks time from signing the preliminary contract. The remaining payments are scheduled as per the agreed terms.

 

Upon completion and presenting of all government required permits for use of the apartment complex, the vendor will invite the buyer to make the transfer of the ownership to the buyer. For this purpose all buyers have to be present in person in Bulgaria, or represented by their lawful proxy. If the buyer is not able to be present in Bulgaria at the planned time for transfer of ownership, it is recommendable a third person to be appointed as a proxy in advance. 

 

Upon transfer of ownership the buyer has to pay the required government and notary fees. The exact amount can be defined in according to the municipality regulations and property price specified in the title deeds.

 

- Maintenance fee - developers are requiring paying of the annual charge for maintenance of the complex

 

The buyer has to bear in mind some practices of the real estate in Bulgaria. Those practices are usually based on the intention to save on government taxes. In such cases the price declared in the Title Deed is not the selling price, but usually the “tax estimation price”. The “tax estimation price“ is the price, which the government uses for the minimum estimation of the state and local taxes. Blackseavillas Ltd. cannot be responsible if there is such wish on behalf of either of the parties (vendor or buyer).

 

 

Every foreign buyer has to register a Bulstat number. It is like a Bulgarian ID of the new property for this particular buyer. The term, in which this registration has to take place, is within 7 days from transfer of ownership. If this is not done on time penalties apply.

 

 

1.       Maintenance fee

2.       Council and garbage collection tax

 

 

Note: Some apartments, residential in most of the cases, are being sold with ideal part of the land, on which the complex has been built. This requires a company set up and the guidance, described in How to buy house or land is applicable.