The Foreign Buyer's Guide: Steps to Purchase Property in Bulgaria and the Role of Excel Property

The Foreign Buyer's Guide: Steps to Purchase Property in Bulgaria and the Role of Excel Property

Bulgaria remains an extremely attractive destination for foreign buyers, especially regarding holiday properties on the Black Sea Coast. However, the purchasing process has its specifics, which depend on the buyer's citizenship and the property type. To avoid legal issues and ensure reliable protection, you must trust an agency with deep legal competencies like Excel Property, established in 2007.

Regime Differences: EU vs. Non-EU Citizens When Acquiring Land

The main difference lies in land acquisition.

• EU Citizens: Can freely acquire apartments, houses, and ownership of land (yards, plots) under the same conditions as Bulgarian citizens.

• Non-EU Citizens: Can freely acquire apartments, but when purchasing a house with a yard or a plot of land, they generally need to register a Bulgarian company through which to acquire the land.

Purchasing an Apartment (with/without proportional land share)

The majority of holiday apartments in Sunny Beach, Nessebar, and Sveti Vlas are sold along with an adjacent proportional share of the land upon which the complex is built. Excel Property provides legal consulting to ensure your chosen property can be acquired seamlessly according to your citizenship.

5 Steps Guaranteed by Excel Property's Legal Services

We provide a full spectrum of services that make the process transparent and secure for every foreign client:

1. Selection and Negotiation: Choosing the best property in Bulgaria and leading negotiations to secure the best price.

2. Legal Due Diligence: The most critical step. Our lawyers check the property for hidden encumbrances, mortgages, and debts to complexes or suppliers, guaranteeing its legal cleanliness.

3. Signing a Preliminary Contract: Drafting a multilingual contract that protects the buyer's interests and fixes all transaction terms.

4. Preparation of the Notary Deed: Gathering all necessary documents (tax valuations, sketches, etc.), often via power of attorney, without the need for the buyer's physical presence.

5. Execution of the Transaction: Finalization before a notary, payment of the sum, and registration of the new owner in the Property Register.

Step 2: Legal Due Diligence – Protection from Encumbrances and Debts

This step is our reliable protection against risks. As professionals with long-standing experience, we have the necessary information and know where to look for potential problems so you can make a timely decision.

Additional Costs and Taxes: What Should a Foreigner Anticipate?

Besides the property price, the buyer must anticipate transfer costs, which usually amount to 3-5% of the price stated in the Notary Deed. These include:

• Local property acquisition tax.

• Notary fees.

• State registration fee.

• Legal service fee (which saves you much larger potential losses).

We provide a precise valuation of these costs from the very beginning to avoid unpleasant surprises.

Your Multilingual Partner: How Excel Property Simplifies the Entire Process

With our offices, including in Sunny Beach, and a team proficient in several languages (including English and Russian), we ensure communication and support at every stage.

Excel Property is the different agency in the real estate market. Our main goal is to provide a full spectrum of services and a personal approach to every client. Through our consultations and legal services, we guarantee that your property acquisition in Bulgaria will be fast, profitable, and most importantly – safe.