TOP-8 useful advices for buyers of real estate in Bulgaria

1. Clarify the purpose of buying

Often the buyers of the holiday real estate act emotionally and do not have any long-term vision about new property usage and further management.

During the first consultation with the broker it is important to figure out your intentions and purpose of buying:

- property for private use: seasonal or year-round

- property as an investment for the further renting

- property as an investment for the further resale

2. Choose the area and real estate location

Explore the area you want to buy a property, its infrastructure and communications, access to the beach, possible changes and reconstructions, etc.

3. Do not neglect the quality of construction due to the price

Axiom says: miser pays twice, and cheap will come out afterwards with high prices. It can be fully applied to housing at a suspiciously low price, which can disappoint you very quickly and transform from the buyer into the status of the seller.

4. Learn about the services in the complex

Before purchasing real estate, check out the additional services that the complex offers. The annual maintenance fee covers the personnel costs and technical support of the complex, but cleaning services, SPA procedures, etc. are paid additionally according to the pricing policy of the complex.

5. NO COMMISSION FROM THE BUYER

Buying the holiday property /not the city one/ in Bulgaria, it is customary not to charge commissions from the buyer. Agency commission is paid by the seller.

6. Deal expenses

When notarizing the transfer of property rights, all related costs are paid by the buyer. They are about 6% of the sale price, fixed by a notarial deed.

This amount is paid once and includes:

- notary fees

- lawyer service fee

- local taxes and fees

- tax register fee

7. Property reservation

Have chosen a dwelling, the buyer should pay a deposit of € 2000. This amount is deducted from the sale price of the property, and the object is withdrawn from sale and is not offered to the third parties.

8. Utility costs

Electricity and water consumption costs are paid by the new property owner personally or by bank transfer according to his consumption and the period of use of these services.