Bulgaria

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Charges to take into account during the property purchase process in Bulgaria 

Normally cost displayed are for the property and do not include additional costs involved when purchasing Bulgarian property.  Below you find a list of costs that you may need to add to the purchase price of a property.  These charges are best discussed with your Estate Agent or Lawyer at the offset.

Somewhat different to buying property in the UK, in Bulgaria it is the purchaser and not the seller who will pay Estate Agency fees (Estate Agency Commission) and this should cover the cost of services your Estate Agent will supply you during your search for property.  Services such as -   solicitors assistance, checks on the property title deeds and the property ownership,   preparation of contracts, paperwork and communication costs

Further costs to take into account and dependent on the property you are purchasing are

                                                Notary Fees

                                                Tax on property purchase

                                                Stamp Duty

                                                Checks on Property Ownership

These charges are usually around 3%-5% of the property price                                                  

When purchasing land or a property with land you may be required to register a Bulgarian Company, the cost of this will be dependent upon the charges made by the agent or lawyer you choose to assist you with the registration, again these costs are best discussed with your agent at the begining.  As you might expect in the UK your  Bulgarian Company would be required to submit annual tax declarations and also to keep accountancy books, which an accountant would take care of for you.

Property and Company Fees

When you have purchased your property and your deeds have been transferred to your Bulgarian Ltd company you will need to organise yearly accountancy of the company, open a bank account, make arrangements for payment of  utility bills such as electricity and water.  Many  Estate Agents will be able to offer you this as an after sales service.

Additional Costs to Take into Account

Not actually a cost of property purchase but costs to take into account should you be visiting Bulgaria to Purchase your property

The cost of visiting (flights, trains etc)

Transport or Taxi Charges

Hotel and Accommodation Costs

Property Management Services if required

Renovation of property  if required