 THE BUYING PROCESS
»»» Reserving an Apartment
STEP 1.
STEP 2. We will reserve your chosen apartment/property
for 4 days whist we wait for your reservation fee. The reservation
fee is variable depending on which complex you are purchasing in.
Payment can be made by credit card (all major credit cards accepted). The reservation fee will be refunded
once
the deposit
is
paid,
however
if you decide not to buy, the reservation fee is non-refundable.
STEP 3. Once payment is made we will contact
you to confirm that we have recieved it. We will then send out
two copies of the contract to you, both of which need to be signed
and returned to us.
STEP 4. You then have 14 days to pay the initial
deposit, which secures the property. Once your deposit is received,
we will
send you a copy of the signed contract from the developer.
»»» Completing your Purchase
STEP 5. A further interim payment is due when
the roof of the building is in place.
STEP 6. The final payment is
due on completion of the property.
»»» Taxation
»»» Tax Evaluations
The Bulgarian property system uses Notaries and a Notary Act in order to transfer the ownership of buildings and/or land.
Upon completion of the property and prior to signing the Notary Act, the local municipal council conducts a tax evaluation of each property. This valuation represents the minimum value that must be reflected on the Notary Act. It is this value that appears on the Notary Act in property transactions in Bulgaria.
Tax evaluation rates vary by municipality across Bulgaria but in general range from 25-50% of the full market value.
When an individual comes to sell a property in Bulgaria, the same system works with a tax evaluation prior to the Notary Act.
In general, if a purchaser wishes to reflect a value higher than the tax evaluation on the Notary Act, extra costs incurred as a result of this action are paid by the purchaser. These costs can include extra notary fees, municipal taxes and VAT. In particular for new build properties, a higher Notary Act price can increase the purchase price by up to 14% alone.
All property prices on www.premier-estates.co.uk are supplied by the seller of that property and are based on the local valuation system for the Notary Act unless otherwise specified.
IT IS IMPORTANT TO NOTE THAT THE TAX EVALUATION IS NEITHER CONDUCTED BY Premier Estates (GB) Ltd. OR THE DEVELOPMENT COMPANY AND IS SET BY THE LOCAL MUNICIPALITY. Premier Estates (GB) Ltd. ACCEPTS NO LIABILITY FOR THE CONTENT OF THE TAX EVALUATION.
Click on the map to go to our Property Locator Page. |
