Remote purchase property in Bulgaria

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INFORMATION > How to buy >> Remote Purchase Property in Bulgaria

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Buy from home

We at Blackseavillas® find property that is so low priced that an immediate decision and fast purchase is often required. To enable our clients to secure such bargains, we offer a way of buying quickly without visiting Bulgaria.

It's called Buy from home (or Remote Purchase), when you authorize us to purchase on your behalf and you are the named beneficiary on the Contract.
 
This is the most time efficient way to buy the property and the best if you are wanting a business visa, as we can state correctly that you own a Bulgarian property and are coming to manage it etc.

It's worth mentioning that many of the very cheap Bulgarian properties are not up to "Western Standards" and will need work doing on them. Typically, this could include installation of internal WC and new bathroom, and fitting a kitchen, plus various other works. Such costs are, of course, very much reflected in the amazingly low prices.
 
We try to show all aspects of a property on our site, good and bad. You can even request a video to be made and sent to you.
Below we present the simple and fast process, that removes much of the stress from buying. No mad rush to get to Bulgaria to buy before the property is sold to another.

1. Pay a reservation fee
On deciding to buy the property, you pay 10% immediately. This can be paid by bank transfer to our UK bank client account or by debit/credit card by PayPal. This secures the property for you. It will not be sold to anyone else.
Reservation fees for such cheap properties vary between 500 -1,000 Euro. Please bear in mind, that in most cases this fee is non-refundable, however it is deducted from one of the next installments due.
But please bear in mind that sending your deposit starts the legal process, with attendant costs, and your deposit will not be refundable if you decide not to proceed, for whatever reason, So, be sure that you wish to purchase.
 
2. Preliminary contract
The Preliminary Contract (in the client’s country official language) for you to buy the property will be sent to you by email within 2 days, for you to sign, scan and immediately return.
The preliminary contract is very important, because it settles all crucial 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, following details have to be provided:
• Scanned copy of passports
• Permanent address
• Address for correspondence (when applicable)
• Telephone, e-mail
 
A Power Of Attorney will also be attached to the email for you to print out, so we can complete the sale on your behalf. The document is written in the client’s country official language. You take the POA document to your local notary officer and sign them in front of him/her. Then the documents are sent to the government department in your country which does Apostille.
Please note, some countries are not in the Apostille system. Have a look at this list, here, to see whether your country is listed. If it is not listed, then no problem, you will just need to go to the nearest Bulgarian consulate to sign the POA and have the document stamped by the official there.
 
After you have sent the scanned and signed Preliminary contract back to us at Blackseavillas.net, also send the paper version of this contract back by courier along with the POA (with Apostille stamp) to our offices.
Please send it by courier (we recommend DHL) and not ordinary post.
 
3. Once we get the Preliminary Contract and POA, we will complete the purchase of the property on your behalf. If you’re buying through a company, we will do the necessary paperwork for that and we will also set up a company bank account. For detailed information regarding the company set up procedure, please read here.
 
4. Once everything is ready to complete, we will ask you to send the remaining 90% balance plus conveyance fee (these fees are modest and will depend on the price of the house) and if you are buying through company, a fee of up to €475.
 
This payment is to be made by bank transfer to our client account in Bulgaria. A receipt is then sent.
Please make reference in transfer instruction the name of the property you are buying for us to identify the payment.

Money Transfer
Payment of funds from UK or elsewhere to Bulgaria can normally be done from your local Bank. You will need to fill in a "Priority Payment" or "Electronic Transfer" form and the payment should take about 3 days. When you fill in the form with the Bank staff, please bear in mind that the slightest error can result in the payment not being made . This can be critical when making payment for the deadline on a Preliminary Contract. So check the form carefully before signing it and give yourself plenty of time and transfer at least a week before the due date.

When using their services, please remind them to add your name to the transfer description, to help us identify it.

5. Transfer of ownership - Upon final payment and receiving all aforesaid documents, the transfer of the ownership will be finalized. Notary deed issued, the property is to be registered in the local Court, the local tax department and local Land survey department.
 
Must-dos after the transfer of ownership:
1. Register of the new property owner in the Electricity and Water supply companies.

Annual costs:
1. Council and garbage collection tax
2. Annual submission of a non-active company records (if a company has been set up)
Our property management department could assist you in all after sale matters.
 
The whole Buy from home process is quite straight forward and easy to arrange. It gives you the opportunity to become a proud owner of a Bulgarian property only in a matter of days.