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Real Estates

Real Estates - property acquisitions, lettings, sales, developments, management contracts and financing | LM Legal Services Sofia, Bulgaria

Our experienced real estates team has responded to the flourishing Bulgarian real estate market. By providing innovative, commercial advice, both to individual buyers and investors as well as to the professional estate agencies. We advise our clients, whether they are acting as investors, developers, landowners, occupiers, borrowers, funders or lenders. Our package of services follows each aspect of the process of purchasing. Selling or leasing of a property and maintenance, in order to protect the interests of our clients. You can contact us.

We specialise in the following areas:

• advising on property acquisitions, lettings, sales, developments, management contracts and financing. We can facilitate the financing by direct representation before banks and other lending institutions.

• the creation of the investment vehicle, acquisition and disposal, management and leasing

• planning and environmental. Advising on planning issues in real estate and development transactions. Negotiating with local planning authorities, representing clients at Public authorities, Municipalities etc; environmental advice on property acquisitions

• public invitations for tender and public purchasing

• domestic tax law and tax structures and their implications

• drawing-up or updating of an existing will of a client following purchase of a real estate on request

• property rights and easements

• management and maintenance

Purchasing a real estate in Bulgaria

Foreigners are allowed to buy properties in Bulgaria. EU-nationals allowed to buy buildings and land. While non-EU nationals can buy buildings as well but if they would like to buy land, they have to register Bulgarian companies through which they can acquire plots of land. For example, a buyer who is a British citizen will need to register a company in Bulgaria to be able to buy a house with a garden. Some of the apartments in Bulgaria located in purpose-built houses and buildings do not include land. However, most houses include the plot of land on which they have been built.

When buying a property in Bulgaria your first step will be to choose a property. Which will be suitable for you. Bulgaria can offer you all sorts of different properties. Lovely houses with a large garden in peaceful village away from the hustle and bustle. Modern apartments in Sofia, Plovdiv or Varna, holiday apartments or houses or properties where you will move full time.

You can have a peace of mind and selected a property in any place in Bulgaria because regardless of its location, our lawyers will help you at each stage of the location of the purchase and thus provide your investment with the necessary security.

We shall then perform the due diligence verification of the property and we will confirm to you whether you can go ahead with purchase.

We strongly advise you to:

We advise you to view the property you like before you go ahead with the purchase. We can provide you with administrative assistance, advice and translation even at this early stage. Once you are sure about the property that you would like to buy, we can help you negotiate the purchase price with the seller. And when this price is agreed, we will prepare a Preliminary Contract for the Purchase which you and the seller will sign.

With the signing of the contract the seller will stop advertising and showing the property to other prospective buyers and selling it to them. On your part you will pay a down payment (deposit to reserve the property) to the amount of 10% of the agreed purchase price. Your Preliminary Contract commits the seller to complete the sale with you in case that the property that you are buying is free of lien within a deadline.

We shall also prepare for you all documents in Bulgarian and in English (or another language is it is necessary) that you need for purchase:
  • declaration of your marital status;
  • declaration about the origin of the money with which you purchase the property.
  • you will then notarise and apostille these declarations.

We shall check the documents which the seller has prepared for the notary. And we will coordinate the content of the title deed with the notary who will certify the purchase.

You can choose to arrive to Bulgaria for the purchase of your property. In which case we will accompany you to the notary public and we will provide you will legal assistance. However, you may decide not to travel to Bulgaria. In this case you can authorize us to represent you and sign on your behalf the title deed for the purchase.

Once the title deeds are signed, we will collect your copy from the notary public and we will register you as the rightful owner of the property. That you have selected with the local authorities. Every year you will receive by a letter information about your due property tax which consists of rubbish collection tax and property tax.

In case that you are a non-EU member-state citizen, if the property in Bulgaria that you bought costed at least 600 000 Levs (300 000 Euros) you can apply for a long-term visa to stay in Bulgaria. Please note that this kind of purchase is sufficient for one application. We can help you with the status of your stay in Bulgaria. And acquiring different types of visas.

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