Bulgarian Offplan Properties
The key points about the purchasing off plan properties in Bulgaria.
1. Choosing Bulgaria as a destination for making long or short term investment in the property market will provide you with some good opportunities and we hope you make the right decision for you.
2. Choosing the most appropriate area for your investment goal is critical. Our experience and advice in this area will help you choose the perfect location also our services are concentrated solely in and around the hotspot areas of the Bulgarian property market:
- Bulgarian Black sea coast for new developments situated in famous coastal resorts with high tourist potential and attractive prices for example Sunny Beach, Nessebar, Sozopol and Balchik
- Ski and Mountain resorts with increasing significance as all year round tourist destinations such as Pamporovo, Bansko and Borovets
- Veliko Tarnovo region with the history and culture associated with the Old Bulgarian capital makes this region very attractive for the tourists and investors coming from all around the world as well as people looking for permanent relocation or a beautiful holiday home. The surrounding region is also attractive.
3. Choosing the complex or residential building - Taking into account your purchasing goals and financial resources, our property consultants will give you their best options based on their knowledge and your requirements in the desired location. You will have the opportunity to ask as many questions as you like.
4. Studio, one bedroom or two bedroom apartment - There are different type of apartments that each complex is offering. The choice is quite big, and usually there are floor plans available, so you have the opportunity to follow the distribution of the premises in each complex.
5. Reserve the apartment - After you have made your choice your agent needs to check if the current property is still available. The new development market is very dynamic and availability changes rapidly. The reservation fee varies between 1000 and 2000 Euro.The reservation period lasts between two weeks and one month. In this time your agent is obligated to organize the preparation of your purchasing documents with the vendor. Usually at this stage you need to submit a copy of your passport, to fill the due forms including your present address, telephone, e- mail etc. Once you have applied for reservation, the developer cannot sale the estate to third parties.
6. Preliminary contract - Within the reservation period the vendor must prepare the due preliminary contract with your personal details, payment schedule and all the details concerning the apartment, ie completion date, level of completion and all the rights and obligations that the seller and the buyer have according to the conditions in the contract. The preliminary contract will be sent to you in two copies, after looking over them you sign them both and you need to return one of the copies to the address of which it has been sent. We advice each customer to read carefully the condition in the preliminary contract and if there any questions do not hesitate to contact us for support.
7. Start of the payments - The payment plan specifies the installment you need to transfer with the precise figures and the time range between each installment. The payment plan is in dependence on the construction status of the property and the developers conditions. Please note that is important to keep the deadlines for each payment.
8. The final stage - receiving you document for ownership
