Buying property in Bulgaria is slightly different to purchasing a property in the UK but can still be a safe, secure and pain free experience.

Buying an ‘off plan’ apartment in Bulgaria is essentially the same as buying in the UK. There is an initial contract (preliminary) signed by all parties, which is basically an obligation to buy on behalf of the client. This contract will set out timescales, prices and any penalties for the late completion and will be produced by Broad Developments’ solicitor. It will have been checked by the sales agent and you as the client are also advised to obtain your own independent legal advice before signing.

The difference comes when the property is completed. In Bulgaria, there is a third party who basically acts on behalf of the government. This person is called the ‘notary’. It is the notary’s responsibility to ensure that the correct details are entered onto property deeds and to ensure that both parties have fulfilled their obligations. In essence, yourself (passport in hand) and a representative of Broad Developments will sit down with the notary, who will issue the deeds once they are sure everything is correct. The notary is often considered by clients as an official, ensuring that everything has been done as it should be. In the UK some solicitors undertake additional qualifications to become a notary and therefore all of the above can be completed without having to leave the UK if desired.

Step 1 - Reserving an apartment

You may reserve an apartment with a non-refundable deposit of 1000 EUR.
The deposit will later be deducted from the final payment.

Step 2 - Signing of the preliminary contract

The preliminary contract is signed no later than 1 month following the reservation of the apartment. It is at this signing that the first payment of 35% of the total cost of the property is payable.

Step 3 - Second Payment

The second payment of 35% of the total cost of the property is payable March 1st 2008.

Step 4 - Completion

The final payment of 30% (minus the initial deposit) is made and the deeds to the apartment are transferred from Broad Developments Ltd to you the client.