What can sellers expect?

I source a wide variety of serious buyers from Bulgaria, Europe, UK and worldwide.

Sellers Requirements
I require to see the latest sale contract to check ownership (Notralen akt or title deed) and check that company status (if applicable) are valid. I promise to only show these documents to my lawyer and keep on a secure holding file until the property is sold.

I will photograph, video and list the property on my website and advertise via social platforms.

Pricing
I will advise a suitable sales price and the seller can accept or set their own. If I feel a price is too high I will not list on my website.

A house cannot be sold without the original sale contract though if lost, these can be obtained from the Obshtina for a fee.

Sellers Agreement
I ask an agreement to be signed, that holds the seller bound when accepting an offer from my client. This a promise that the seller will not renegade on the deal, will not change their mind, will not ask for more money or remove from sale after agreed a offer is accepted from the buyers.

I do not charge the seller for my services. My fees are paid by the buyer. All I ask in return, is that the seller agrees:

1. no direct contact with my clients unless agreed by me
2. no cutting me out of the loop

We will agree access for viewing dates . Whenever possible, I will accompany the potential buyers.

If the seller finds a buyer independently, the seller agrees to inform me immediately so I can mark the property as sold and no further time is wasted. In this case, the seller may forward my details to the private sale buyer, should they require help or advice on purchasing in Bulgaria including access to reputable legal assistance.

Sellers Obligaations
1. Usually buyers pay all purchase fees and taxes at the notary. The seller is responsible for the kadastre register (skitsa) and the tax assessment (a document to prove all taxes are paid).
2. Both need to be ordered by the seller and presented to the Notary on the day of sale. However, it makes sense to provide these earlier so the notary has all information ready in advance.
3. A translator is required if the seller cannot read and write in Bulgarian.
4. Sellers have rights to use independent legal representation to check the sale document. This is at sellers own expense.

Sellers Tax
All companies pay a sellers tax of 20% on the profit. Example: if a €4000 property is sold for €9000, 20% of €5000 is sales tax due to be paid by the seller.
Private persons property is exempt from tax this after 3 years of ownership.

Please note: private persons are required to provide a Bulstat or tax number, even if no sellers tax is due. This is registered at NAP.

Kadastre Skitsa
A kadastre skitsa (ground plan) costs about €30 and is valid for 6 months. This is ordered at the local Obshtina land registry office. It usually takes about 2 weeks to produce depending on office. This can be done at any point before or after an offer is accepted however if any discrepancies occur, this can cause a delay to the sale, so it is advisable to order one as soon as possible. A fast track service is available for a higher cost.

Tax assessment
The tax assessment, or proof taxes are paid document, is created where you pay your house danuk and is valid until the new tax year on April 1st.

The owner must apply for the Kadastre Register and Tax Assessmet documents, however, if you need help to obtain them I am able to assist you, in return for my time and travel expenses.

Mortgage
A property cannot be sold if there are any outstanding loans. The notary will make checks and refuse to notarise a sale if money is owed.

Please contact me via email to list your property: hideawayhomesbulgaria@gmail.com

Rent to Buy

A lot of clients are requesting this option as mortgages are difficult to obtain in Bulgaria and almost impossible when buying overseas. Sellers can stipulate payment terms, usually with a deposit of 10% the sale price, and then monthly payments over 1 or 2 years. A contract will be arranged with a lawyer and signed at the notary. Charges to arrange this will be agreed beforehand and are usually shared with the buyer.

A seller can either decide to hand over the keys from the start of the payment term, which means the buyer is responsible for any repairs that occur. Alternatively, the keys can be kept until payment is complete, which means if anything happens to the property, the seller is responsible for the repairs.

Should the buyer stop paying for any reason, the court can intervene and either return the property to the seller or pass to the bailiff. This can also be set out in the payment contract.

Rental

If an owner does not wish to sell but would like to rent the property, I can assist with a rental contract and regular property inspections for an agreed fee. As a guide, the average rent in Bulgaria for a 3 bedroom house in villages is €500 per month and up to €1200 pm in cities. Though these prices all depend on the standard of accommodation.

Contact Meli direct and I will email an example of a rental contract:

hideawayhomesbulgaria@gmail.com