Step 1 – Preliminary Contracts
Having made your final decision on an apartment we send a copy of your passport and address details to the developer’s solicitor, who then draws up the Preliminary Contract.
Within 1 week, you will receive a Preliminary Contract of Sale & Management and an IBAN number by which to make the first instalment of 30%. You are required to make payment within 2 weeks of receiving the Preliminary Contract.
Step 2 – Final Completion
- Prior to construction being completed, you will be notified of when final payment is due.
- Once completed and the final instalment has been paid, the transfer of title can take
place. - In Bulgaria, the property registry system works in conjunction with local Notaries. To take delivery of your property you must sign the Notary Act, which is a standard document transferring ownership of the property into your name.
- Due to the importance of the Notary Act, we will liaise with you to appoint a Bulgarian legal representative to help you complete the process.
- If you do not personally attend the signing of the Notary Act you may appoint your Bulgarian legal representative to sign on your behalf by giving them Power of Attorney. Again we will liaise on your behalf to arrange this.
- You can either collect your deeds in person, or leave them in the care of your Bulgarian solicitor.
Read More: Property Specifications, Floor Plans, About The Developer, Availability & Price List, Buying Procedure – Legal, Getting a Mortgage, Maintenance Fee.
