STANDARDIZED PROPERTY
Property value: USD 273,754
City: Sofia
Procedure 1*.
The Estate is drafted by the respective Municipality
Time to complete: 14 days
Cost to complete: BGN 10
Comment:
The estate is drafted by the respective municipality.
The draft of the estate is a graphic sketch of the estate with its borders, square meters, number of the area, where the estate is situated. This draft is issued on the grounds of the Cadastre of the real estates.
Procedure 2*.
Obtain a tax valuation of the property
Time to complete: 14 days
Cost to complete: No cost
Comment:
The tax valuation of the property is issued by the respective tax authorities.
A tax valuation is mandatory for every property transfer
Procedure 3*.
Issuance of certificate of good standing for seller and buyer
Time to complete: 3-4 days
Cost to complete: BGN 5 each
Comment:
A certificate of good standing must be issued for seller and buyer.
Companies in Bulgaria are registered with the respective regional court depending on the address of the company. This certificate is issued by the registration court.
The certificate is needed to show that the company is registered and existing, and that the person who signs on behalf of the company is actually the authorized person to sign.
Procedure 4*.
Obtain a Non-Encumbrance certificate from the Real Estate Register
Time to complete: 5 days
Cost to complete: BGN 5.90
Comment:
Procedure 5*.
Obtain a certificate of paid taxes
Time to complete: 7 days
Cost to complete: No cost
Comment:
The certificate of paid taxes is obtained from the local tax department for both the buyer and the seller, according to art. 36 par.7 of the Tax Procedure Code
Procedure 6*.
Obtain a Social Insurance Certificate
Time to complete: 7 days
Cost to complete: No cost
Comment:
A social insurance certificate is obtained from the local branch of the National social Insurance Institute for both the buyer and the seller
Procedure 7.
The notary executes the transfer deed
Time to complete: 1 day
Cost to complete: 2% of property price (state fee) + 0.1% of property price (Registration fee) + notary's fees according to the following scale and with a maximum of BGN 3,000: Value of Property Fees Up to 100 BGN 15 From BGN 100 to 1,000 BGN 15 + 1.5% of excess over BGN 100 From BGN 1,000 to 10,000 BGN 28.5 + 1% of excess over BGN 1,000 From BGN 10,000 to 50,000 BGN 118.5 + 0.5% of excess over BGN 10,000 From BGN 50,000 to 100,000 BGN 318.5 + 0.2% of excess over BGN 50,000 Above BGN 100,000 BGN 418 + 0.1% of excess over BGN 100,000
Comment:
The notary executes the transfer deed and collects the money for payment of the state fee (transfer tax) and the registration fee.
The State Fee amounts to 2% of the property price.
The registration fee amounts to 0.1% of the property price.
Usually the notary pays the state and registration fees. This is done for the clients' convenience. The parties can pay themselves the fees at the account of the tax authority where the estate is situated and bring the receipts to the notary.
Procedure 8.
Registration of the notarized deed at the Registry
Time to complete: 1-3 days
Cost to complete: Already paid in Procedure 4
Comment:
The notary will register the notarized deed at the registration office with the respective district court.
This can be done by the parties too, but it is most common that the notary will do it (and it is included in the above fees).
The notary will pay registration and state fees collected previously. Registration usually takes 1 day. However, it can take up to 3 days if there are too many deeds to be registered.
Procedure 9.
Parties receive a copy of the registered deed
Time to complete: 1 day
Cost to complete: No cost
Comment:
Parties will receive a copy of the registered deed the same or next day the deed has been registered by the notary
Note: Procedures sometimes take place simultaneously. Instances of this are marked with an asterisk (*).
Two more reasons for Bulgaria's success in attracting property investors and second-home buyers in the recent yeears
Useful advises for real estate property sellers
Monthly updated information on current real estate prices in Bulgaria on the basis of realized deals
Information on taxes levied in Bulgaria in connection with the ownership of property
Conditions of acquiring land in Bulgaria by foreigners and foreign legal entities according to the changes in the legislation made in line with the process of European integration
Learn all formalities and regulations related to a real estate purchase deal.
Steps to finding a rental property. Useful advice for the tenant
Basic information on the social insurance, pension insurance and health insurance systems in Bulgaria
You are looking for property to rent - welcome to the websites of Mirela Real Estate Agency - the leader in the corporate internet offering of real estate in Bulgaria
Services provided by MIRELA to foreign clients
According to the commitments of Bulgaria made in the process of European integration in Art.22 of the Constitution, changes have been made to harmonize Bulgarian legislation with the law of the European Union. According to these changes, foreigners and foreign legal entities can acquire ownership of land in the following cases
Purchase price of the property, intermediation fee, local tax and state levied taxes. The way to save on charges. Our brokers will suggest a solution.
On concluding a real estate management contract, MIRELA Real Estate Agency offers: 1.Effective consulting and mediation services for property rental 2. Juridical provision on the transaction
Letting a property - the peace of mind with secured permanent income or how to find a decent tenant on profitable terms