Theoretically, anyone wishing to buy real estate in Bulgaria can independently, without the participation of a real estate company, search for an object, agree on inspections, negotiate with sellers about the price and possible discounts, and also go through a notary purchase and sale transaction.
But is everything so simple in practice?
When buying real estate in Bulgaria, you need to understand that the choice, inspection of the object you like and the sale price approved with the seller of the property are the smallest, sometimes even pleasant concerns.
The legal procedure is the main part, which can bring additional complications.
Today, the Bulgarian real estate market by the sea offers for sale secondary housing and new buildings.
The predominant percentage of sellers of secondary housing by the sea are foreign citizens, they have been the main buyers of real estate on the Bulgarian Black Sea coast since 2008.
Purchase of secondary housing by the sea with the participation of a foreign person in the transaction: in the transaction of purchase and sale of a property in a resort area, as a rule, one of the parties, or both parties, are persons of foreign origin residing outside of Bulgaria. The foreign Seller may not always be present in person at the transaction. Based on the characteristics of the property, marital status, monetary settlement, the presence of bank participation (if the buyer takes out a bank mortgage on the acquired property), without the participation of lawyers and realtors (brokers), difficulties and risks may arise that persons wishing to purchase real estate do not take into account.
Although real estate activity in Bulgaria is not licensed, and the notary is responsible for the purity of the transaction to the buyer, the role of real estate companies is not the last, but we would even say that it is the first place.
Let's take the work of lawyers. Lawyers and Notaries do not sell real estate, do not know the features of the complexes, the condition of the property, what the management company is, whether the owners have debts for maintenance fees, electricity, water, and do not even communicate with the Sellers or Buyers before the property is reserved. Their job is to prepare documents for the legal side of the purchase and sale transaction, all the documents required for this and information on the details of the transaction are provided by the real estate company.
Let's take the work of a real estate company:
1. Irregular working hours, inspections of properties can take place both on weekends and holidays, taking into account the convenient time of clients.
2. Constant contact with Sellers and Buyers of real estate.
3. Recommendations regarding properties. Considering extensive work experience, knowledge and possession of information about almost all complexes located along the Black Sea coast, as well as various nuances identified in the process of work, which an ordinary person may simply not know about.
4. Agreeing with the Sellers the current price, possible discounts and additional conditions for the buyer.
5. Agreeing monetary settlements taking into account the legislation of Bulgaria.
6. Checking documents for possible encumbrances. (Must be done by the company before putting the property up for sale).
7. Preparing contracts that will protect the Buyer, as well as other documents required for the transaction.
8. Agreeing the transaction procedure - in person or remotely.
9. Collecting information about the marital status of the Seller, based on this it is determined whether there will be any difficulties in completing the purchase and sale transaction. (When buying secondary housing)
10. Collecting information from management companies about possible debts - support fees, unpaid bills for electricity and water and settling this issue. (When buying secondary housing)
11. The opportunity to take advantage of personal discounts when choosing real estate from the builder, which the real estate company has acquired over the years of cooperation and many sales.
Here are listed only the main points of the real estate company's work, but even they make it clear that an independent purchase of real estate in Bulgaria is not such an easy matter. And most importantly, by using the company's services, you will definitely buy real estate at a reasonable price, practice and reviews show that without the participation of experienced intermediaries, real estate is purchased much more expensively.
You can seek professional help from the company's manager by filling out the feedback form on our website for an individual selection of real estate in Bulgaria, perhaps it will be an apartment (apartment), a house with an independent plot or a villa in a complex. We, taking into account your wishes and our extensive experience, will select appropriate offers for consideration.