Holiday Properties in Bulgaria
Both sides of the contract agree on the date of the accession to the property. In most cases this is the date of the completion of the construction works or respectively the date of signing the notary deed, but not before the acceptance of the building from the respective state bodies.
These actions might be fulfilled personally by the owner or by his/her representative.
Usually the owner is the one exercising control over the property, but a company for management might also assume these functions as well as another specially authorized person (e.g. SIANA Complex is offering property management).
There is a Land register in Bulgaria where all notary deeds for purchasing of property are registered. For this reason the title deed might be hold by the owner or his/her representative.
According to the Bulgarian legislation in force various documents depending on the kind of repair works undertaken are required (building permissions, permission for exploitation are needed only in the case of reconstruction works).
Example for the expenses incurred in the case of purchasing a property in Bulgaria:
• Price of the property - 50,000 Euro
• Taxation according to the local taxes and fees Act 2 % - 1,000 Euro
• Notary fees - 214 Euro
• Registration fees - 200 Euro (+/- 10%)
• Estate agent fee - upon agreement