Complete information regarding all stages of the real estate purchase carried out with the intermediation of our agency on the territory of Bulgaria.
When you have decided to purchase a property, but you don’t have the necessary time or skills to go through the entire process, turn to the professionals on the real estate market. The engaging of a professional broker saves you time, troubles and money and protects you from the problems occurring during the process of purchasing the selected estate.
In order to work with a professional real estate agency necessary is to contract an intermediation services agreement with it. The agreement regulates completely and accurately all the rights and obligations of the two parties - client* (Assignor) and agency (Contractor). Through it the agency engages with your searching and provides you with all the offers on the market complying with the criteria of your seeking without aiming to sell only “its own” estate. Your only engagement is to sign the register of presented estates to confirm that you have received the offer for the specific estate by the Contractor.
Choosing property.
In order to provide you with the most appropriate offers you have to advise us of all your preferences regarding the estate – location, area, construction type, number of rooms, floor, exposure, infrastructure, construction stage, completion stage, price and so on, as well as the way of funding the purchase – cash or partial loan.
Viewings.
After you have selected the most attractive properties for you among the ones we have offered, we organise their viewing taking into consideration your spare time. Viewings on the territory of Sandanski are free for clients. If clients wish to use transportation ensured by our agency when viewing a property outside Sandanski, clients pay 1.00 BGN/km in exchange for a receipt. When purchasing a property in Bulgaria through intermediation by our agency all transportation charges paid by the clients for viewings are reimbursed in full at the day of notary certification of the deal.
Deposit.
If you have selected a specific property and you wish to negotiate the conditions of its purchasing necessary is to sign a guarantee agreement with our agency where described in details are all your requirements regarding the property – negotiation of the sale price, lack of property burdens, furnishing or condition of the estate, payment of all public utilities bills to the day of certifying the deal, term of certifying the deal, etc. Upon signing of the guarantee agreement deposited is a certain amount - 5% of the estate’s offer price but not less than EUR 1000, which is held by the agency while the agreement is effective - within five working days.
In case in the process of negotiation between the agency and the seller all conditions on the agreement are fulfilled starts the signing of the preliminary agreement or the final agreement (Notary Deed) for sale and purchase of the specific estate, and the property is withdrawn from the market.
If one or several of the conditions of the guarantee agreement are not fulfilled within the set term, the buyer is entitled to terminate it and receive the deposited amount of money in full.
Preliminary contract.
When two parties – seller and buyer – have reached consent on all the conditions of the guarantee agreement the agency prepares a preliminary contract for sale and purchase of the real estate – on the grounds of art. 19, par. 2 of the Contracts and Obligations Act. The agreement contains complete information regarding:
- the real estate, subject of the sale;
- the condition in which the estate will be handed over to the buyer;
- terms and way of payment of the sale price;
- term of handing over of the possession;
- Notary Public who will certify the deal;
- other conditions valid for the certain property;
In order the preliminary contract to be effective the buyer pays an advance payment to the seller in the amount of 10% of the contract sale price of the property.
On the day of the preliminary contract signing the parties pay the remuneration** to the agency, if such is due.
Certifying of the deal, Notary Deed.
On the day, specified in the preliminary contract or by another arrangement between the seller and buyer, both parties appear before the set Notary Public in the presence of the agency’s manager or the legal adviser for final certification of the sale-purchase deal for the property. Signed is a Notary Deed upon which the ownership is transferred from the seller to the buyer and made is the final payment*** between the parties. The payment of due notary and state fees is done by one or both parties in compliance with the arrangements of the preliminary contract or the guarantee agreement. The Notary Public hands over the same day the signed Notary Deed at Registry Department of Registry Agency – for registration of the transfer deal and reflecting all the changes of the property’s lot.
Post-sale property registration.
After registration of the Notary Deed at Registry Agency the two parties receive a copy thereof by the Notary Public. The buyer shall declare the newly purchased property at the Tax Office as per estate’s location - within a two-month term of the date of certifying the deal. It is also buyer's responsibility to transfer the electricity and water bills in the name of the new owner. Our agency may carry out for free those post-sale actions upon respective authorisation.
* Clients of our agency are all natural persons and entities having signed an intermediation agreement upon purchase, sale or rent with us of real estate on the territory of Bulgaria.
** The remuneration includes the price of all services, provided in the process of sale and purchase of the specific estate – preliminary appraisal of the estate and consultation for the offer price (for sellers), selection of appropriate estates as per set criteria (for buyers), organisation of viewings, complete inspection of ownership documents of the seller up to the first owner, inspection of property burdens (including receiving a written verification by the Registry Agency), preparation of all the necessary documents for the sale and purchase of the property, overall organisation of the deal – day, hour, ensuring a Notary Public, opening of bank accounts and so on. Clients are entitled to choose their own lawyer or set a Notary Public for the deal’s certification which does not change the amount of remuneration, due to the agency.
*** Pursuant to the new Cash Payments Restriction Act (promulgated Official Gazette issue No 16 of February 22nd, 2011) all payments on the territory of the country at the amount equal to or exceeding BGN 10000 shall be transferred only by bank wire – through transfer or depositing into a payment account. When the payment regards to purchase of real estate at the amount of over BGN 10000 the payment is only by bank wire (on the grounds of art. 25, par. 10 of Notary Public and Notarial Activity Law).