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| Payment of Fees when buying property in Bulgaria
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We DO NOT CHARGE OUR CLIENTS ANY COMMISSION from the property sale. Our profit is based exclusively on the premiums paid to us by the developers and owners of the properties on the market. You pay just the actual cost of the property and cover expenses related to property purchase, i.e. notary fees, company registration fees, tax on property etc.
Moreover, we provide free of charge legal consultation and organise viewing trips to the properties of your interest.
Typical costs to consider
As part of your planning you should also consider all the costs that you are likely to incur as a result of buying property in Bulgaria. These include:
Return airfare to Bulgaria
Viewing trip fees (we charge 150 GBP for several day viewing trip that includes meeting you in the airport, transfering to the hotel, delivering to any part of Bulgaria by car with personal English speaking representative of our company, showing a number of properties withind several day inspection trip, etc. This amount will be fully refunded if you buy a property through our company). Viewing properties can involve several trips around the area, but we begin to incur costs as soon as we begin work. We ask our clients to pay a refundable deposit of 150 GBP to cover these initial costs, which is returned when the deal is completed. This allows us to concentrate more of our time and effort on those clients who are seriously looking. Paying transport costs is common practice in Bulgaria. We are of course happy to meet with you, and discuss any aspects of buying without charge, but if you decide to view then we would ask you to pay the refundable deposit.
The cost of setting up a Bulgarian company (if the property has land)
Legal fees (for solicitors and notary public)
Accountancy fees (for any consultations with accountants)
Accommodation costs in Bulgaria
Taxes (government taxes and local court fees for notary deed)
Potential renovation costs (if you are buying an old or unfinished property)
As within the UK there are a number of local transaction costs such as stamp duty that need to be paid by the purchaser. The Local Property Tax (equivalent to the 'stamp duty' in UK) is 2% of the purchase price. The National Registration Tax for registering the title deeds is 0.1%. The Notary (state certified) legalizes the deal and their fees are based on tables (0.1 - 1.5 %) reflecting the purchase price and are typically less than 150 pounds.
Each year local council taxes must be paid that cover public lighting, refuge collection and so forth. These taxes are minimal and are typically less than 100 pounds.
Mortgages are available in Bulgaria but they tend to be very expensive and difficult to obtain. The best option if necessary is to secure funding in the UK.
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